Exhibit
10.8
LEAK-OUT AGREEMENT
-------------------
THIS LEAK-OUT
AGREEMENT BETWEEN CHALLENGER POWERBOATS, INC. (THE "COMPANY")
AND
MARK OVERBYE,
HIS AFFILIATES, RELATED PARTY ENTITIES, SUCCESSORS AND
FAMILY
MEMBERS (HEREIN
REFERRED TO AS "OVERBYE") IS DATED JANUARY 29, 2007 AND
SUPERSEDES ANY
AND ALL OTHER
AGREEMENTS ON THE SUBJECT MATTER OF THIS LEAK-OUT
AGREEMENT WHETHER
IN WRITING OR ORALLY COMMUNICATED BETWEEN BOTH PARTIES.
Challenger Powerboats,
Inc.
300 Westlink
Dr.
Washington, MO
63090
Ladies and
Gentlemen:
In consideration
for Asset and Technology Acquisition
Agreement between IMAR
Group LLC and Mark Overbye and Gekko Sports Corporation and the
Employment
Agreement between
Challenger Powerboats
and Overbye both of which are dated on
or about January 29, 2007 and for other good and valuable
consideration, receipt
of which is hereby acknowledged, the undersigned
hereby agrees, for a period
commencing on the date of this Agreement and until January 29, 2009
("Restricted
Period"), not
to publicly or privately offer to sell, contract to sell or
otherwise sell,
dispose of, loan, gift, donate, pledge or grant any
rights
(collectively, a
"Disposition")
with respect to any shares of the Company's
Preferred Stock, Common Stock, any options or warrants to purchase
any shares of
Common Stock
or any securities convertible into or
exchangeable for sha
