TERMINATION AGREEMENT
THIS TERMINATION AGREEMENT, effective as of the 30th day of April, 2004, is entered into by and among Next, Inc. (the “Company”), Xxxxxxx X. Xxxxxxxx (“Xxxxxxxx”), The Xxxxxxx X. III and Xxxxx X. Xxxxxxx Family Limited Partnership (the “Partnership”) and Xxx X. Xxxxx (“Xxxxx”).
WHEREAS, the Company and each of Xxxxxxxx, the Partnership and Xxxxx have entered into Lock-Up Agreements with respect to the Company’s common stock.
WHEREAS, the Company, Xxxxxxxx, the Partnership and Xxxxx desire to terminate said Lock-Up Agreements.
NOW THEREFORE, in consideration for the premises herein contained and other good and valuable consideration, the receipt and legal sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1.
The Company and Xxxxxxxx hereby agree that the Lock-Up Agreement dated April 15, 2003, by and between the Company and Xxxxxxxx shall be terminated effective as of the date hereof.
2.
The Company and the Partnership hereby agree that the Amended and Restated Lock-Up Agreement dated October 1, 2003, by and between the Company and the Partnership shall be terminated effective as of the date hereof.
3.
The Company and Xxxxx hereby agree that the Amended and Restated Lock-Up Agreement dated October 1, 2003, by and between the Company and the Xxxxx shall be terminated effective as of the date hereof.
[Signature Page Following]
IN WITNESS WHEREOF, the undersigned have executed this Termination Agreement to be effective as of the date first above written.
NEXT, INC.
By: /s/ Xxxxxxx X. Xxxxxxx III
Xxxxxxx X. Xxxxxxx III,
Chief Executive Officer
THE XXXXXXX X. XXXXXXX III AND XXXXX X. XXXXXXX FAMILY LIMITED PARTNERSHIP
By: /s/ Xxxxxxx X. Xxxxxxx III
Xxxxxxx X. Xxxxxxx III,
General Partner
/s/ Xxxxxxx X. Xxxxxxxx
Xxxxxxx X. Xxxxxxxx
/s/ Xxx X. Xxxxx
Xxx X. Xxxxx
