OSLH Executive AgreementOslh Executive Agreement • March 10th, 2014 • Osl Holdings Inc. • Services-allied to motion picture production
Eric Kotch, Eli Feder, Bob Rothenberg and Steven Gormley in their capacities as employees, former employees and creditors (collectively referred to as the “Executives”) are each willing to settle amounts claimed and/or owed to them by OSL Holdings, Inc. (the“Company”). Pursuant to their employment contracts they are entitled to convert amounts owed into common stock at a 70% discount to the market price. Such conversion would result in new shares exceeding a multiple of total shares currently outstanding and authorized. The Executives are surrendering these personal rights and other debt, loans, expenses or advances because they believe it is in the best interest of the Company. These right to convert (hereinafter referred to as “Conversion Rights”) and all other debts, loans, expenses or advances will be relinquished as detailed in paragraph 10 below and in exchange for certain warrants and releases as detailed below
