Exhibit 10.2
GENERAL RELEASE
This GENERAL RELEASE (this “Release”) is made on this [●] day of [●] 2023 by each of Regional Holdings Corporation, a Mississippi corporation (“Regional”), Regional Underwriters, Inc., a Saint Kitts and Nevis corporation (“Regional Underwriters”), Heath Jenkins, a resident of Mississippi (“Heath Jenkins” and together with Regional and Regional Underwriters, “Sellers”, and each individually, “Seller”), and Dana Jenkins, a resident of Mississippi (“Dana Jenkins”), and is being delivered in connection with the closing of the transactions contemplated by that certain Securities Purchase Agreement, dated as of August 25, 2023 (the “Agreement”), by and among Skyline Champion Corporation, an Indiana corporation (“Parent”), Champion Home Builders, Inc., a Delaware corporation and subsidiary of Parent (“CHB”), Champion Retail Housing, Inc., a Delaware corporation and subsidiary of Parent (“CRH” and together with CHB, “Buyers”, and each individually, a “Buyer”), Sellers, Dana Jenkins and Heath Jenkins, as the Sellers’ Representative (the “Sellers’ Representative”). All capitalized terms not otherwise defined in this Release shall have the meanings ascribed to them in the Agreement.
WHEREAS, Sellers and Dana Jenkins own all of the issued and outstanding Equity Interests of the Company Group (collectively, the “Securities”);
WHEREAS, Sellers and Dana Jenkins desire to sell to Buyers, and Buyers desire to purchase from Sellers and Dana Jenkins, all of the Securities held by Sellers and Dana Jenkins upon the terms and conditions set forth in the Agreement, such that upon the Closing, Buyers shall own all of the Securities of the Company Group; and
WHEREAS, the execution and delivery of this Release is a condition to the Closing contemplated by Section 2.11(i) of the Agreement.
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IN WITNESS WHEREOF, the undersigned have duly executed this Release as of the date first written above.
SELLERS:
REGIONAL HOLDINGS CORPORATION
By: __________________________________
Name:
Title:
REGIONAL UNDERWRITERS, INC.
By: __________________________________
Name:
Title:
______________________________________
Heath Jenkins
______________________________________
Dana Jenkins
[Signature Page to General Release]