January __, 2007 Ladies and Gentlemen: The undersigned is a director, executive officer or beneficial owner of shares of capital stock, or securities convertible into or exercisable or exchangeable for the capital stock (each, a "Company Security") of...Unit Offering Lock-Up Agreement • January 19th, 2007 • Towerstream Corp • Miscellaneous publishing
The undersigned is a director, executive officer or beneficial owner of shares of capital stock, or securities convertible into or exercisable or exchangeable for the capital stock (each, a "Company Security") of Towerstream Corporation, a Delaware corporation (the "Company"). The undersigned understands that the Company will merge with a wholly-owned subsidiary of a publicly traded company (the "Parent"), concurrently with a private placement by the Parent of up to 100 units (the "Units") of the Parent, each Unit consisting of 50,000 shares of common stock, par value $0.001 per share, of the Parent and a detachable transferable warrant to purchase 25,000 shares of common stock of the Parent at an exercise price of $4.50 per share (the "Funding Transaction"). The undersigned also understands that WFG Investments, Inc., Granite Financial Group, LLC, Ardent Advisors and Palladium Capital Advisors, LLC have acted as placement agents with respect to the Funding Transaction (the "Placement
