October 3, 1995 Lynch Corporation 8 Sound Shore Drive Suite 290 Greenwich, CT 06830 Reference is made to the proposed agreement dated October 3, 1995, between Spinnaker Industries, Inc. ("Spinnaker") and you. To induce Lynch to enter into that...Gabelli Funds Inc Et Al • October 24th, 1995
Reference is made to the proposed agreement dated October 3, 1995, between Spinnaker Industries, Inc. ("Spinnaker") and you. To induce Lynch to enter into that agreement, the undersigned, Richard J. Boyle, Ned N. Fleming, III and Boyle, Fleming, George & Co., Inc., hereby agrees with Lynch Corporation ("Lynch") that they will not sell any shares (or warrants to purchase any shares) of Spinnaker stock which they own, until Lynch's commitment to loan funds to Spinnaker under the agreement dated October 3, 1995, between Spinnaker and Lynch has terminated, any funds loaned to Spinnaker pursuant thereto have been paid in full, all payments owed to Lynch pursuant to the agreement, including expense reimbursement, have been made, and any Lynch guarantees of loans by other persons to Spinnaker to fund Spinnaker's obligation to honor the Put (as defined in the agreement) have terminated.
