RETENTION AGREEMENT
Exhibit 3 | Retention Agreement |
This Retention Agreement is entered on April 11, 2012 between Marketing Worldwide Corporation, a Delaware corporation, (the “Company”) and Xxxxxxx Xxxxxxxxx, Xxxxxx Xxxxxxxx, Xxxxxxx Winzkowski, and Xxxxxx Xxxxxxx (the “Executives”).
The Company shall issue 16,904 shares of the Company’s Series D Super Voting Preferred Stock to Xxxxxxx Xxxxxxxxx. The Company shall issue 39,062 shares of the Company’s Series D Super Voting Preferred Stock to Xxxxxx Xxxxxxxx. The Company shall issue 31,156 shares of the Company’s Series D Super Voting Preferred Stock to Xxxxxxx Winzkowski. The Company shall issue 2,880 shares of the Company’s Series D Super Voting Preferred Stock to Xxxxxx Xxxxxxx.
The Executives, individually and jointly and severally, agree to sell any shares of Series D Super Voting Preferred Stock to the Company following cessation of their services at a price of Ten Cents ($.10) per share.
This Retention Agreement has been entered into as of the date set forth above.
Marketing Worldwide Corporation
By: /s/ Xxxxxxx Xxxxxxxxx
Name: Xxxxxxx Xxxxxxxxx
Title: Chief Executive Officer
By: /s/ Xxxxxxx Xxxxxxxxx
Name: Xxxxxxx Xxxxxxxxx
By: /s/ Xxxxxx Xxxxxxxx
Name: Xxxxxx Xxxxxxxx
By: /s/ Xxxxxxx Winzkowski
Name: Xxxxxxx Winzkowski
By: /s/ Xxxxxx Xxxxxxx
Name: Xxxxxx Xxxxxxx