<The Agreement contemplates that Lone Star, within a reasonable time after execution of the Agreement, will put into place a 10b5-1 plan to acquire in the aggregate three percent or more of the Company’s outstanding common stock. Any failure to so acquire and hold at least three percent of the Company’s outstanding common stock will result in either Mr. Eberwein or Mr. Pearse’s resignation from the Board. Three percent of the Company’s common stock is valued at approximately $686,096 based on the closing price of $0.25 on April 22, 2015 as quoted by Pink OTC Markets’ inter-dealer quotation service. There have been no transactions, and no transactions have been proposed, since the beginning of the Company’s last fiscal year in which the Company was or is a participant and the amount involved exceeds $120,000, and in which Mr. Pearse or Mr. Eberwein (or any immediate family member of Mr. Pearse or Mr. Eberwein) have an interest.>
Full agreement can be read here:
8k
Interesting that they only lose 1 of their 2 seats if they don't buy. Also, I suspect that the long suffering longs want reasonable to be a short period, whereas, these Lone Star is probably thinking reasonable is within a year.