Exhibit 99(g)
XXXXX X. XXXXXXX
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, Xxxxxxx 00000
September 26, 2002
Board of Directors
PRACTICAL PLASTICS, INC.
0000 Xxxx Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx 00000
Re: First Amended Lock-Up Agreement
Gentlemen:
In consideration of Xxxxxxxx X. Xxxxxxxxx'x execution of a $9,500
promissory note payable to Practical Plastics, Inc., formerly known as Magic
Stories, Inc. (the "Company"), the cancellation of my promissory note payable to
the company, and Xx. Xxxxxxxxx'x assumption of the duties as officer and
director of the Company, the undersigned holder warrants, covenants and agrees
for the benefit of the Company not to sell, offer to sell, solicit an offer to
buy, contract to sell, make any short sale, pledge, xxxxx, xxxxx any option to
purchase, or otherwise transfer or dispose of, any shares of Common stock, or
any securities convertible into or exercisable or exchangeable for Common Stock,
owned directly or beneficially by the undersigned or with respect to which the
undersigned has the power of disposition, for a period of two years from May 1,
2002.
An attempt to sell, transfer or any type of disposition of the shares shall be a
violation of this letter agreement and shall be ineffective and null and void.
In furtherance of the foregoing, the holder agrees to; (1) delivery his shares
to the Company for safe keeping; (2) allow the Company to advise its Transfer
Agent not to transfer said securities and (3) authorize the company to deliver a
copy of this Agreement to the transfer agent with instructions to decline to
make any transfer of securities if such transfer would constitute a violation or
breach of this Agreement.
This Agreement shall be binding upon the holder, its agents, heirs, successors,
assignees and beneficiaries.
A waiver or amendment of the terms and conditions of this agreement must be in
writing and executed by the proper officer of the Company and the holder.
If there is a breach or threatened breach of this Agreement, the holder agrees
that there is no adequate remedy at law and said breach will cause irreparable
damage. Accordingly, the holder agrees that the Company is entitled to the
issuance of an immediate injunction without notice to restrain the breach or
threatened breach. This remedy is not exclusive and the holder agrees that the
Company and third party beneficiaries shall be entitled to seek other remedies
including a claim for other remedies, including money damages.
This agreement supersedes my previous agreement dated May 1, 2002.
THE HOLDER
/s/ Xxxxx X. Xxxxxxx
----------------------- Constituting 100,000 shares
Xxxxx X. Xxxxxxx Certificate #3001
