Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 197

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 197
---
 whether any such transaction described above is to be settled by delivery of Atlantic International common stock or such other securities, in cash or otherwise. Lock-Up Agreement with Series H Holders In connection with the conversion of Series H Preferred Shares into shares of Atlantic International common stock; (i) all of the shares are subject to a lock up for the 6months after Closing; (ii) 1,750,000shares of Atlantic Common Stock are subject to a lock -upfor the period starting on 6months after Closing until 9months after Closing; (iii) 875,000shares of Atlantic Common Stock are subject to a lock -upfor the period starting on 9months after Closing until 12months after Closing; and (iv) the lock -upshall terminate 12months after Closing and (B) the lock -upshall not apply to the extent shares of Atlantic Common Stock must be sold to pay any taxes from such applicable holder (the “Series H Lock -upAgreement”), in the form attached hereto as Annex H. Lock-Up Agreement with Series I Holders In connection with the conversion of Series I Preferred Shares into shares of Atlantic International Common Stock to Jackson Investment Group, all such shares are subject to a lock -upfor the twelve (12) months after Closing (the “Series I Lock -upAgreement”), the form of which is attached hereto as Annex E. Conversions and Waivers Conversion, Amendment and Waiver Agreement for Series H Preferred Stock In connection with the Merger, Staffing 360 and Chapel Hill will enter into a Conversion, Amendment and Waiver Agreement, in the form attached hereto as Annex F, effective immediately prior to the closing of the Merger, pursuant to which the parties shall (i) amend the terms of the Series H Preferred Stock to, among other things, increase the number of shares of Staffing 360 preferred stock designated as Series H Preferred Stock to up to 14,000,000shares and (ii) (a) convert any amounts owed in Earned Contingent Cash Payment (as defined in the Merger Agreement) into five million (5,000,000) shares of Series H Preferred Stock and (b) waive any outstanding interest, dividends or other payments related to the Series H Preferred Stock. In addition, Chapel Hill agreed to enter into the Series H Lock -upAgreement, in the form attached hereto as Annex H. 111 Conversion Agreement and Waiver for Series I Preferred Stock In connection with the Mer