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LOCK-UP AGREEMENT

May 31, 2001

 

National Vision, Inc.

296 Grayson Highway

Lawrenceville, Georgia 30045

Ladies and Gentlemen:

As
a five percent (5%), or greater, holder (a “5% Holder”) of common
stock (the “Common Stock”) of National Vision, Inc., a Georgia
corporation (the “Company”), issued under the terms of the First
Amended Joint Plan of Reorganization Under Chapter 11, Title 11, United States
Code, Filed By Vista Eyecare, Inc. and Certain of Its Debtor Subsidiaries (the
“Reorganization Plan”), for good and valuable consideration, the
receipt and sufficiency of which are acknowledged, the undersigned agrees (i)
that for the period commencing on the Effective Date (as defined in the
Reorganization Plan) and ending on the six month anniversary of the Effective
Date the undersigned will not offer, sell, contract to sell, grant an option to
purchase, or otherwise dispose of any shares of Common Stock and (ii) that for
the period commencing on the date immediately succeeding the six month
anniversary of the Effective Date and ending on the 36 month anniversary of the
Effective Date the undersigned will not, without the prior written consent of
the Company’s Board of Directors, offer, sell, contract to sell, grant an
option to purchase, or otherwise dispose of any shares of Common Stock (it being
understood and agreed that such consent shall be withheld only if (in the prompt
determination of the Company’s Board of Directors) any such sale, contract to
sell, grant of option, or other disposition of Common Stock, after giving effect
thereto, (i) would result in a material adverse tax consequence to the Company
or (ii) would materially increase the likelihood of the occurrence of a material
adverse tax consequence to the Company (as determined after giving effect to
other sales of Common Stock occurring on or after the Effective Date and prior
to the date that such determination is made, if any)). Subject to the terms and
conditions hereof, the undersigned authorizes the Company to cause the transfer
agent to decline to transfer and/or to note stop transfer restrictions on the
transfer books and records of the Company with respect to any shares of Common
Stock and any securities convertible into, exercisable, or exchangeable for
Common Stock for which the undersigned is the record holder and, in the case of
any such share or securities for which the undersigned is the beneficial but not
the record holder, agrees to cause the record holder to cause the transfer agent
to decline to transfer and/or to note stop transfer restrictions on such books
and records with respect to such shares or securities.

 

 

 

This
Lock-Up Agreement shall terminate upon the earlier to occur of (i) the sale (in
accordance herewith) of all of the 5% Holder’s Common Stock and (ii) the 36
month anniversary of the Effective Date.

The
undersigned hereby represents and warrants that the undersigned has full power
and authority to enter into the agreements set forth herein, and that, upon
request, the undersigned will execute any additional documents necessary in
connection with enforcement hereof.

This
Lock-Up Agreement shall be governed by and construed in accordance with the laws
of the State of New York but without giving effect to the conflicts of laws
principles thereof.

 

 

 

-2-

 

This
Lock-Up Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which counterparts taken
together shall constitute but one and the same instrument. This Lock-Up
Agreement may be executed by facsimile signatures.

 

 

		Very
      truly yours,
       

		
      SCUDDER HIGH YIELD
      SERIES -

      SCUDDER HIGH YIELD FUND*

      

      

      By:         /s/ Harry E.
      Resis,
      Jr.                                   

      Name:  Harry E. Resis, Jr.

      Title:     Vice President

 

Accepted, Acknowledged

and Agreed:

 

National Vision, Inc.

By:       /s/
Mitchell
Goodman                 

Name:  Mitchell Goodman

Title:    Sr. Vice President and General Counsel

 

 

 

*              
A copy of the Agreement and/or Declaration of Trust of the referenced
trust or fund (the “Fund”) is on file with the Secretary of State of The
Commonwealth of Massachusetts, and notice is hereby given, and by your
acceptance hereof you acknowledge, that this instrument is executed on behalf of
the Fund and that the obligations of or arising out of this instrument are not
binding upon any of the trustees, officers or shareholders individually but are
binding only upon the assets and property of the Fund. 
If this instrument is executed by a Series of the Fund, you also
acknowledge that the obligations of or arising out of this instrument are not
binding upon the assets and property of any Series of a fund other than the
Series executing this instrument.

 

-3-Lock-Up Agreement

LOCK-UP AGREEMENT

 

May 31, 2001

 

National Vision, Inc.

296 Grayson Highway

Lawrenceville, Georgia 30045

Ladies and Gentlemen:

As
a five percent (5%), or greater, holder (a “5% Holder”) of common
stock (the “Common Stock”) of National Vision, Inc., a Georgia
corporation (the “Company”), issued under the terms of the First
Amended Joint Plan of Reorganization Under Chapter 11, Title 11, United States
Code, Filed By Vista Eyecare, Inc. and Certain of Its Debtor Subsidiaries (the
“Reorganization Plan”), for good and valuable consideration, the
receipt and sufficiency of which are acknowledged, the undersigned agrees (i)
that for the period commencing on the Effective Date (as defined in the
Reorganization Plan) and ending on the six month anniversary of the Effective
Date the undersigned will not offer, sell, contract to sell, grant an option to
purchase, or otherwise dispose of any shares of Common Stock and (ii) that for
the period commencing on the date immediately succeeding the six month
anniversary of the Effective Date and ending on the 36 month anniversary of the
Effective Date the undersigned will not, without the prior written consent of
the Company’s Board of Directors, offer, sell, contract to sell, grant an
option to purchase, or otherwise dispose of any shares of Common Stock (it being
understood and agreed that such consent shall be withheld only if (in the prompt
determination of the Company’s Board of Directors) any such sale, contract to
sell, grant of option, or other disposition of Common Stock, after giving effect
thereto, (i) would result in a material adverse tax consequence to the Company
or (ii) would materially increase the likelihood of the occurrence of a material
adverse tax consequence to the Company (as determined after giving effect to
other sales of Common Stock occurring on or after the Effective Date and prior
to the date that such determination is made, if any)). Subject to the terms and
conditions hereof, the undersigned authorizes the Company to cause the transfer
agent to decline to transfer and/or to note stop transfer restrictions on the
transfer books and records of the Company with respect to any shares of Common
Stock and any securities convertible into, exercisable, or exchangeable for
Common Stock for which the undersigned is the record holder and, in the case of
any such share or securities for which the undersigned is the beneficial but not
the record holder, agrees to cause the record holder to cause the transfer agent
to decline to transfer and/or to note stop transfer restrictions on such books
and records with respect to such shares or securities.

 

 

This
Lock-Up Agreement shall terminate upon the earlier to occur of (i) the sale (in
accordance herewith) of all of the 5% Holder’s Common Stock and (ii) the 36
month anniversary of the Effective Date.

 

The
undersigned hereby represents and warrants that the undersigned has full power
and authority to enter into the agreements set forth herein, and that, upon
request, the undersigned will execute any additional documents necessary in
connection with enforcement hereof.

This
Lock-Up Agreement shall be governed by and construed in accordance with the laws
of the State of New York but without giving effect to the conflicts of laws
principles thereof.

 

 

-2-

 

This
Lock-Up Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which counterparts taken
together shall constitute but one and the same instrument. This Lock-Up
Agreement may be executed by facsimile signatures.

 

 

		
      Very truly yours,
       

       

		
      U.S. BANCORP
      INVESTMENTS, INC.

      

      By:        /s/ Robert G.
      Morrish                           

      Name:   Robert G. Morrish

      Title:      Executive Vice President

 

 

Accepted, Acknowledged

and Agreed:

National Vision, Inc.

By:  /s/
Mitchell
Goodman                

Name:  Mitchell Goodman

Title:  Sr. Vice President and General Counsel

 

 

 

 

 

-3-Ex 10.1 National Beauty Corp

                                  EXHIBIT 10.1
               National Beauty Corp Non-qualified 2001 Stock Plan

THIS CONSULTING SERVICES PLAN (the "Plan") is made as of the 4th day of
September, 2001 between National Beauty Corp. a Nevada Corporation (the
"Company"), for the Officers, Directors and Consultants below (the
"Consultants").

R E C I T A L S:

The Company is under agreement to grant ("Consulting Agreements"), and the
Consultants, Officers and Directors are to receive, as compensation for services
provided to the Company, shares of the common stock of the Company (the "Common
Stock"), pursuant to the provisions set forth herein;

NOW, THEREFORE, in consideration of the mutual promises, covenants, terms and
conditions herein, and other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged by the parties, the parties agree
as follows:

1.   Grant of Shares. The Company hereby grants to the Consultants the following
     shares of Common Stock (the "Shares") in the Company.

         Name                  # of Shares           Service Type
         ----                  -----------           ------------
         Tony Sklar               100,000             Consulting
         Alisha Roth              100,000             Service as Director
         Brenda Hamilton            5,000             Legal Services

2.   Services. Consultants, Officers and Directors have been engaged by the
     Company as in their respective Agreements.

3.   Compensation. Consultants, Officers and Directors compensation is the
     Shares identified herein. The parties agree the Shares are valued at par
     value. Consultants, Officers and Directors are responsible for all income
     taxes.

4.   Registration or Exemption. Notwithstanding anything to the contrary
     contained  herein, the Shares will be registered on Form S-8 Registration
     Statement dated September 4, 2001.

5.   Delivery of Shares. The Company shall deliver to the Consultant
     respectively, certificate representing 100,000 shares to Tony Sklar. The
     Company shall deliver a certificate  representing 100,000 shares to Alisha
     Roth. The Company shall deliver a certificate representing 5,000 shares to
     Brenda Hamilton.

6.   Waiver. No waiver is enforceable unless in writing and signed by such
     waiving party, and any waiver shall not be construed as a waiver by any
     other party or of any other or subsequent breach.

7.   Amendments.This Plan may not be amended unless by the mutual consent of
     all of the parties hereto in writing.

8.   Governing Law. This Plan shall be governed by the laws of the State of
     Florida, and the sole venue for any action arising hereunder shall be Palm
     Beach County, Florida.

9.   Assignment and Binding Effect. Neither this Plan nor any of the rights,
     interests or obligations hereunder shall be assigned by any party hereto
     without the prior written consent of the other parties hereto, except as
     otherwise provided herein. This Plan shall be binding upon and for the
     benefit of the parties hereto and their respective heirs, permitted
     successors, assigns and/or delegates.

10.  Integration and Captions. This Plan includes the entire understanding of
     the parties hereto with respect to the subject matter hereof. The captions
     herein are for convenience and shall not control the interpretation of this
     Plan.

11.  Legal Representation. Each party has been represented by independent legal
     counsel in connection with this Plan, or each has had the opportunity to
     obtain independent legal counsel and has waived  such right, and no tax
     advice has been provided to any party.

12.  Construction. Each party acknowledges and agrees having had the opportunity
     to review, negotiate and approve all of the provisions of this Plan.

13.  Cooperation. The parties agree to execute such reasonable necessary
     documents upon advice of legal counsel in order to carry out the intent and
     purpose of this Plan as set forth herein above.

14.  Hand-Written Provisions. Any hand-written provisions hereon, if any, or
     attached hereto, which have been initialed by all of the parties hereto,
     shall control all typewritten provisions in conflict therewith.

15.  Fees, Costs and Expenses. Each of the parties hereto acknowledges and
     agrees to pay, without reimbursement from the other party(ies), the fees,
     costs, and expenses incurred by each such party incident to this Plan.

16.  Consents and Authorizations. By the execution herein below, each party
     acknowledges and agrees that each such party has the full right, power,
     legal capacity and authority to enter into this Plan, and the same
     constitutes a valid and legally binding Plan of each such party in
     accordance with the terms, conditions and other provisions contained
     herein.

17.  Gender and Number. Unless the context otherwise requires, references in
     this Plan in any gender shall be construed to include all other genders,
     references in the singular shall be construed to include the plural, and
     references in the plural shall be construed to include the singular.

18.  Severability. In the event anyone or more of the provisions of this Plan
     shall be deemed unenforceable by any court of competent jurisdiction for
     any reason whatsoever, this Plan shall be construed as if such
     unenforceable provision had never been contained herein.

19.  Counterparts. This Plan may be executed in counterparts.

20.  Facsimile. This Plan may be executed by facsimile.

NATIONAL BEAUTY CORP.

/s/ Ed Roth
By: Ed Roth President

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