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LOCK- UP AGREEMENT

Lockup Agreement

LOCK- UP AGREEMENT
 | Document Parties: BAM ENTERTAINMENT INC You are currently viewing:
This Lockup Agreement involves

BAM ENTERTAINMENT INC

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Title: LOCK- UP AGREEMENT
Date: 7/6/2004
Industry: Software and Programming    

LOCK- UP AGREEMENT
, Parties: bam entertainment inc
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<PAGE>

                                                                    EXHIBIT 4.11

 

 

 

                                                                          PAGE 1

 

                               LOCK- UP AGREEMENT

 

BAM! Entertainment, Inc.

333 West Santa Clara Street, Suite 716

San Jose, California 95113

 

Ladies & Gentlemen:

 

The Shareholders of VIS entertainment limited ("VIS") have accepted an Offer

made by BAM! Entertainment, Inc., a Delaware Corporation (the "COMPANY") dated

24 March, 2004; pursuant to which the Company has agreed, upon the terms and

subject to the conditions contained therein, to issue to the Shareholders of

VIS, shares of the Company's common stock, US $0.001 par value and the

Shareholders of SOE Development Limited ("SOED") have agreed to sell to the

Company the whole of the share capital of SOED pursuant to a Sale and Purchase

Agreement dated 18 March 2004 ("SPA") under which the Company has agreed upon

the terms and subject to the conditions contained therein to issue to the

Shareholders of SOED (or as they may direct) shares of the Company's common

stock US $0.001 par value (all of such shares of common stock together referred

to in this agreement as "COMMON STOCK"). The undersigned recognizes that the

Offer and/or the SPA will be of benefit to the undersigned. The undersigned

acknowledges that the Company is relying on the representations and agreements

of the undersigned contained in this letter in carrying out the Offer and

closing the SPA. Capitalized terms used herein and not otherwise defined herein

shall have the respective meanings set forth in the Offer.

 

In consideration of the foregoing, the undersigned hereby agrees that the

undersigned will not, without the prior written consent of the Company (which

consent may be withheld in its sole discretion) or except as otherwise set forth

herein, directly or indirectly, sell, offer, contract, or grant any option to

sell (including without limitation any short sale), pledge, transfer, establish

an open "put equivalent position" within the meaning of Rule 16a-1(h) under the

Securities Exchange Act of 1934, as amended, and the rules and regulations

promulgated thereunder (collectively, the "EXCHANGE ACT") or otherwise dispose

of any shares (collectively, a "DISPOSITION") of Common Stock currently or

hereafter owned either of record or beneficially (as defined in Rule l3d-3 under

the Exchange Act) by the undersigned, or publicly announce the undersigned's

intention to do any of the foregoing, during the period commencing on the date

hereof and continuing through the close of trading on the one-year anniversary

of the date on which the Offer was declared unconditional in all respects and

the acquisition of the shares in SOED under the SPA was completed ("CLOSING

DATE"); provided, however, that beginning on and after the thirtieth (30th)

calendar day after the Closing Date, twenty-five percent (25%) of the Common

Stock held, directly or indirectly, by the undersigned as of the date of

execution of this Agreement shall not be subject to the terms set forth in this

Agreement; provided, further, that beginning on and after the one hundred

eightieth (180th) calendar day after the Closing Date, an additional twenty-five

percent (25%) of the Common Stock held, directly or indirectly, by the

undersigned as of the date of execution of this Agreement shall not be subject

to the terms set forth in this Agreement; provided, further, that beginning on

and after the two hundred seventieth (270th) calendar day after the Closing

Date, an additional twenty-five percent (25%) of the Common Stock held, directly

or indirectly, by the undersigned as of the date of execution of this Agreement

shall not be subject to the terms set forth in this Agreement; and provided,

further, that beginning on and after the one-year anniversary of the Closing

Date, the remaining twenty-five percent (25%)


 
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