Exhibit 99(g)
XXXXX X. XXXXXXX
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, Xxxxxxx 00000
May 1, 2002
Board of Directors
PRACTICAL PLASTICS, INC.
0000 Xxxx Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx 00000
Re: Lock-Up Agreement
Gentlemen:
In consideration of the transfer of 9,900,000 shares of Common Stock
representing the controlling interest in Practical Plastics, Inc., formerly
known as Magic Stories, Inc. (the "Company") to Xxxxxxxx X. Xxxxxxxxx, and Xx.
Xxxxxxxxx'x assumption of the $9,500 promissory note payable to 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 the date of this Agreement.
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.
THE HOLDER
/s/ Xxxxx X. Xxxxxxx
----------------------- Constituting 100,000 shares
Xxxxx X. Xxxxxxx Certificate #3001
