Document:

exv10w10

Exhibit 10.10

LOCK-UP AGREEMENT

May 5, 2011

57th Street General Acquisition Corp.

590 Madison Avenue, 35th Floor

New York, New York 10022

Crumbs Holdings LLC

110 West 40th Street, Suite 2100

New York, New York 10018

Ladies and Gentlemen:

     This letter agreement (this “Agreement”) relates to a Business Combination Agreement entered
into as of January 9, 2011, as amended by that certain Amendment to Business Combination Agreement,
dated as of February 18, 2011, Amendment No. 2 to Business Combination Agreement, dated as of March
17, 2011, and Amendment No. 3 to Business Combination Agreement, dated as of April 7, 2011
(collectively, and as amended, the “Business Combination Agreement”), by and among 57th
Street General Acquisition Corp., a Delaware corporation (“Parent”), 57th Street Merger
Sub LLC, a Delaware limited liability company and wholly-owned subsidiary of Parent, Crumbs
Holdings LLC, a Delaware limited liability company (the “Company”), the members of the Company as
set forth on the signature page thereof, and the representatives of the Company and the Members.
Capitalized terms used and not otherwise defined herein are defined in the Business Combination
Agreement and shall have the meanings given to such terms in the Business Combination Agreement.

     1. In order to induce all Parties to enter into the Business Combination Agreement, the
undersigned hereby agrees that, without the prior written consent of Parent and the Company, the
undersigned: (i) will not, directly or indirectly, offer, sell, agree to offer or sell, solicit
offers to purchase, grant any call option or purchase any put option with respect to, assign,
transfer, pledge, borrow or otherwise dispose of, any Common Stock received in exchange for Sponsor
Warrants as contemplated by the Business Combination Agreement (the “Insider Warrant Exchange
Shares”) or securities convertible into or exercisable or exchangeable for such Insider Warrant
Exchange Shares which may be deemed to be beneficially owned by the undersigned in accordance with
the rules and regulations promulgated under the Securities Exchange Act of 1934, as the same may be
amended or supplemented from time to time (such shares or securities, collectively, the “Lock-up
Shares”); (ii) will not establish or increase any “put equivalent position” or liquidate or
decrease any “call equivalent position” (in each case within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder)
with respect to any Lock-up Shares, or otherwise enter into any swap, derivative or other
transaction or arrangement that transfers to another, in whole or in part, any economic consequence
of ownership of any Lock-up Shares, whether or not such transaction is to be settled by delivery of
Lock-up Shares, other securities, cash or other consideration; or (iii) will not engage in any
short selling of any Lock-up Shares for a period commencing on the

 

 

Closing Date and ending on the earlier of [A] nine (9) months after the date of effectiveness
of a registration statement that is filed in connection with the Common Stock associated with the
Excluded Shares, or [B] the sale of all the Common Stock associated with the Excluded Shares
pursuant to an effective registration statement (such period, the “Lock-up Period”).
Notwithstanding anything in this paragraph 1 to the contrary, the undersigned may exercise any
rights under the Registration Rights Agreement provided, however, that no sale of Lock-up Shares by
the undersigned shall be permitted during the Lock-up Period.

     2. The undersigned hereby authorizes Parent and/or the Company during the Lock-up Period to
cause any transfer agent for the Lock-up Shares to decline to transfer, and to note stop transfer
restrictions on the stock register and other records relating to, Lock-up Shares for which the
undersigned is the record holder and, in the case of Lock-up Shares for which the undersigned is
the beneficial but not the record holder, agrees during the Lock-Up Periods to cause the record
holder to cause the relevant transfer agent to decline to transfer, and to note stop transfer
restrictions on the stock register and other records relating to, such Lock-up Shares, if such
transfer would constitute a violation or breach of this Agreement.

     3. Notwithstanding the foregoing, the undersigned may sell or otherwise transfer Lock-up
Shares during the undersigned’s lifetime or on death (i) if the undersigned is not a natural
person, to its equity holders, (ii) to the immediate family members (including spouses, significant
others, lineal descendants, brothers and sisters) of the undersigned or its equity holders, (iii) a
family trust, foundation or partnership established for the exclusive benefit of the undersigned,
its equity holders or any of their respective immediate family members, (iv) a charitable
foundation controlled by the undersigned, its equityholders or any of their respective immediate
family members, or (v) by will or intestacy to the undersigned’s immediate family or to a trust,
the beneficiaries of which are exclusively the undersigned and a member or members of the
undersigned’s immediate family or a charitable foundation controlled by any such persons, provided
in each such case that the transferee thereof agrees to be bound by the restrictions set forth
herein.

     4. The undersigned hereby represents and warrants that the undersigned has full power and
authority to enter into this Agreement and that this Agreement constitutes the legal, valid and
binding obligation of the undersigned, enforceable in accordance with its terms. Upon request, the
undersigned will execute any additional documents necessary in connection with enforcement hereof.
Any obligations of the undersigned shall be binding upon the successors and assigns of the
undersigned from the date first above written.

     5. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without regard to the conflicts of laws principles thereof. Delivery of a signed copy
of this letter by facsimile or other electronic transmission shall be effective as delivery of the
original hereof.

[Signatures on the following page]

 

 

	 	 	 	 	 
	 	Very truly yours,

57th Street GAC Holdings LLC

 	 
	 	By:  	/s/ Paul D. Lapping
 	 
	 	 	Name:  	Paul D. Lapping 	 
	 	 	Title:  	Managing Memberexv10w11

Exhibit 10.11

LOCK-UP AGREEMENT

May 5, 2011

57th Street General Acquisition Corp.

590 Madison Avenue, 35th Floor

New York, New York 10022

Crumbs Holdings LLC

110 West 40th Street, Suite 2100

New York, New York 10018

Ladies and Gentlemen:

     This letter agreement (this “Agreement”) relates to a Business Combination Agreement entered
into as of January 9, 2011, as amended by that certain Amendment to Business Combination Agreement,
dated as of February 18, 2011, Amendment No. 2 to Business Combination Agreement, dated as of March
17, 2011, and Amendment No. 3 to Business Combination Agreement, dated as of April 7, 2011
(collectively, and as amended, the “Business Combination Agreement”), by and among 57th
Street General Acquisition Corp., a Delaware corporation (“Parent”), 57th Street Merger
Sub LLC, a Delaware limited liability company and wholly-owned subsidiary of Parent, Crumbs
Holdings LLC, a Delaware limited liability company (the “Company”), the members of the Company as
set forth on the signature page thereof, and the representatives of the Company and the Members.
Capitalized terms used and not otherwise defined herein are defined in the Business Combination
Agreement and shall have the meanings given to such terms in the Business Combination Agreement.

     1. In order to induce all Parties to enter into the Business Combination Agreement, the
undersigned hereby agrees that, without the prior written consent of Parent and the Company, the
undersigned: (i) will not, directly or indirectly, offer, sell, agree to offer or sell, solicit
offers to purchase, grant any call option or purchase any put option with respect to, assign,
transfer, pledge, borrow or otherwise dispose of, any Expense Stock received pursuant to the
Business Combination Agreement or securities convertible into or exercisable or exchangeable for
such Expense Stock which may be deemed to be beneficially owned by the undersigned in accordance
with the rules and regulations promulgated under the Securities Exchange Act of 1934, as the same
may be amended or supplemented from time to time (such shares or securities, collectively, the
“Lock-up Shares”); (ii) will not establish or increase any “put equivalent position” or liquidate
or decrease any “call equivalent position” (in each case within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder)
with respect to any Lock-up Shares, or otherwise enter into any swap, derivative or other
transaction or arrangement that transfers to another, in whole or in part, any economic consequence
of ownership of any Lock-up Shares, whether or not such transaction is to be settled by delivery of
Lock-up Shares, other securities, cash or other consideration; or (iii) will not engage in any
short selling of any Lock-up Shares for a period commencing on the

 

 

Closing Date and ending on the earlier of [A] nine (9) months after the date of effectiveness
of a registration statement that is filed in connection with the Common Stock associated with the
Excluded Shares, or [B] the sale of all the Common Stock associated with the Excluded Shares
pursuant to an effective registration statement (such period, the “Lock-up Period”).
Notwithstanding anything in this paragraph 1 to the contrary, the undersigned may exercise any
rights under the Registration Rights Agreement provided, however, that no sale of Lock-up Shares by
the undersigned shall be permitted during the Lock-up Period.

     2. The undersigned hereby authorizes Parent and/or the Company during the Lock-up Period to
cause any transfer agent for the Lock-up Shares to decline to transfer, and to note stop transfer
restrictions on the stock register and other records relating to, Lock-up Shares for which the
undersigned is the record holder and, in the case of Lock-up Shares for which the undersigned is
the beneficial but not the record holder, agrees during the Lock-Up Periods to cause the record
holder to cause the relevant transfer agent to decline to transfer, and to note stop transfer
restrictions on the stock register and other records relating to, such Lock-up Shares, if such
transfer would constitute a violation or breach of this Agreement.

     3. Notwithstanding the foregoing, the undersigned may sell or otherwise transfer Lock-up
Shares during the undersigned’s lifetime or on death (i) if the undersigned is not a natural
person, to its equity holders, (ii) to the immediate family members (including spouses, significant
others, lineal descendants, brothers and sisters) of the undersigned or its equity holders, (iii) a
family trust, foundation or partnership established for the exclusive benefit of the undersigned,
its equity holders or any of their respective immediate family members, (iv) a charitable
foundation controlled by the undersigned, its equityholders or any of their respective immediate
family members, or (v) by will or intestacy to the undersigned’s immediate family or to a trust,
the beneficiaries of which are exclusively the undersigned and a member or members of the
undersigned’s immediate family or a charitable foundation controlled by any such persons, provided
in each such case that the transferee thereof agrees to be bound by the restrictions set forth
herein.

     4. The undersigned hereby represents and warrants that the undersigned has full power
and authority to enter into this Agreement and that this Agreement constitutes the legal, valid and
binding obligation of the undersigned, enforceable in accordance with its terms. Upon request, the
undersigned will execute any additional documents necessary in connection with enforcement hereof.
Any obligations of the undersigned shall be binding upon the successors and assigns of the
undersigned from the date first above written.

     5. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without regard to the conflicts of laws principles thereof. Delivery of a signed copy
of this letter by facsimile or other electronic transmission shall be effective as delivery of the
original hereof.

[Signatures on the following page]

2

 

Very truly yours,

	 	 	 	 	 
	 	AKIN GUMP STRAUSS HAUER & FELD LLP

 	 
	 	By:  	/s/ Bruce Mendelsohn
 	 
	 	 	Name:  	Bruce Mendelsohn 	 
	 	 	Title:  	Partner

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