RECITALSInvestment Agreement • May 15th, 1997 • Franklin Ophthalmic Instruments Co Inc • Wholesale-professional & commercial equipment & supplies • Illinois
John Prinz May 8, 1997 Prinz-Franklin L.L.C. One Northfield Plaza Northfield, Illinois 60093 Dear John, As an addendum to the Investment Agreement Dated April 11, 1997 and all exhibits ("Investment Agreement"), between Franklin Ophthalmic Instruments...Franklin Ophthalmic Instruments Co Inc • May 15th, 1997 • Wholesale-professional & commercial equipment & supplies
As an addendum to the Investment Agreement Dated April 11, 1997 and all exhibits ("Investment Agreement"), between Franklin Ophthalmic Instruments Co., Inc ("Franklin") and Prinz-Franklin L.L.C. ("Prinz), Franklin is willing to provide "piggyback" registration rights on all of the common stock sold to Prinz under the aforementioned Investment Agreement provided that: the common stock is placed in escrow to insure the stand-still provisions in the Investment Agreement such that: 1) 25% (750,000 shares) of the stock will not be released and/or sold unless the closing price of Franklin's common stock is equal to or greater than $.75 per share for five consecutive trading days; and 2) the remaining common stock (2,250,000) will not be released and/or sold unless the closing price is equal to or greater than $1.25 for five consecutive trading days. The escrow restrictions shall cease at the earlier of the time the common stock sold to Prinz shall be exempt under the provisions of Rule 144 a
