To: Kanders & Company, Inc.Lock-Up Agreement • October 8th, 2008 • Kanders Warren B • Orthopedic, prosthetic & surgical appliances & supplies • New York
The undersigned, ____________ for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, agrees that, until December 7, 2011 (the “Termination Date”), the undersigned will not offer, sell, contract to sell, hypothecate, pledge, grant any option to purchase, make any short sale or otherwise dispose of or encumber any portion of the $250,000 principal amount of the Company’s 5% Convertible Subordinated Notes due December 7, 2011 (the “Note”) owned by the undersigned. Except with your prior written consent, the undersigned further agrees not to exercise any rights to convert the Note into shares of the Company’s common stock, $0.02 par value (the “Conversion Shares” and with the Note, the “Subject Securities”) prior to the Termination Date.
