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Article 1
Purchased Shares and Purchase Price
1. Subject to the terms and conditions hereof, the Vendor agrees to sell to the
Purchaser and the Purchaser agrees to purchase from the Vendor the
_______% Shares.
2. The purchase price payable by the Vendee to the Vendor for the Purchased
Shares shall be __________.
Article 2
Warranties of the vendor
(b) The Vendor is the registered and beneficial owner of the Shares, with good
and marketable title thereto, free and clear of any pledge, lien, charge,
encumbrance or security interest of any kind and the Vendor has the power
and authority and right to sell the Shares in accordance with the terms of
this Agreement.
(c) The Vendor agrees to indemnify the Vendee for any loss whatsoever arising
out of, under or pursuant to any material loss suffered by the Vendee as a
result of any breach or inaccuracy of representation or warranty in this
Agreement.
Article 3
General
1. Three of the nine directors shall be designated by the Vendee and the
remaining six by the other stockholders.
2. One of the three members of the Executive Committee shall come from the
Vendee.
4. 75% super-majority vote is required for the amendment of the articles and
by-laws.
5. The Vendee has the right to designate the president and plant manager.
6. The sales policy of the “Acquiring Group” shall be that which is normally
followed by the Vendee.
7. The Vendee will provide the technology and know-how to the “Acquiring
Group,” and the latter shall pay royalties for the same.
IN WITNESS WHEREOF the parties have executed this Agreement as of the date
above written:
_______________________ _______________________
_______________________ _______________________
_______________________ _______________________