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Document Preview Agreement and Plan of Exchange |
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Title: |
Agreement and Plan of Exchange |
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Entities: |
Bach-Hauser, Inc.; Financial Access Solutions Technology, Inc.; Hauser, Inc. |
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Date: |
2002 |
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Size: |
Preview shows 5KB of 41KB total |
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Price: |
$48 |
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ID: |
#1251718 |
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<SEQUENCE>3
<FILENAME>planbagmt.txt
<DESCRIPTION>AGREEMENT AND PLAN OF EXCHANGE
<TEXT>
AGREEMENT AND PLAN OF EXCHANGE
AGREEMENT AND PLAN OF EXCHANGE ("Agreement"), dated as of
the _____ day of _______, 2002, by and between PLAN B PRODUCTIONS
OF UTAH, INC., hereafter "PLAN B", a Utah corporation, and BACH-
HAUSER, INC., hereafter "BH", a Nevada corporation.
Plan of Exchange
The Plan of Exchange will consist of the acquisition of all
of the issued and outstanding shares of PLAN B by BH and the
issuance by BH to the shareholders of PLAN B a total of
2,400,000 restricted common shares of BH's stock with
registration rights, having a par value of US$.001 each, to be
issued upon and subject to the terms and conditions of the
Agreement hereinafter set forth.
NOW, THEREFORE, in consideration of the promises and the
mutual and dependent promises hereinafter contained, and good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto represent, warrant,
covenant, and agree as follows:
ARTICLE I
1.1 Agreement to Consummate Transactions. Subject to the
terms and conditions of this Agreement, BACH-HAUSER, INC. and
PLAN B PRODUCTIONS OF UTAH, INC. agree to consummate or cause to
be consummated, the transactions contemplated by Sections 1.2
through 8.2 of this Agreement ("Transactions"), and agree that
the consummation of each of the Transactions is conditional upon
the consummation of each of the other Transactions.
1.2 Shareholders Approval. PLAN B PRODUCTIONS OF UTAH,
INC. has submitted to its shareholders, or will submit to its
shareholders for approval, the substance of this Agreement at a
special meeting of its shareholders to be held on or before 90
days hereafter.
1.3 Closing. A meeting of the parties to this Agreement
("Closing") will take place at which time certificates, opinions,
letters and other documents required by this Agreement will be
delivered or exchanged. The Closing will take place at the
Office of BACH-HAUSER, INC. as soon as practicable after the
parties have obtained the required shareholder approval, or at
such other time and place as agreed by the parties, but not later
than 90 days hereafter, and this Agreement shall be declared
effective as of such Closing.
1.4 Consummation of Transactions. If at the Closing no
condition exists which would permit any of the parties to
terminate this Agreement, or a condition then exists and the
party entitled to terminate because of that condition elects not
to do so, then and thereupon BH will file the necessary documents
required by the State of Nevada, and upon such filing with the
State, to reflect the acquisition of PLAN B.
1.5 Acquisition of Shares. Upon, and subject to the terms
and conditions herein stated, BACH-HAUSER, INC. shall acquire
from PLAN B's shareholders and PLAN B's shareholders shall
transfer, assign and convey to BACH-HAUSER, INC. 100% of the
issued and outstanding shares of common stock of PLAN B.
1.6 Consideration, Issuance and Delivery of Stock. In
consideration of, and in exchange for the foregoing transfer,
assignment and conveyance, and subject to compliance by PLAN B
PRODUCTIONS OF UTAH, INC. with its warranties and undertakings
contained herein. BACH-HAUSER, INC. SHALL:
A. At Closing, issue and deliver to the
shareholders of the common stock of PLAN B,
Two Million Four Hundred Thousand
(2,400,000) restricted common shares of BACH-
HAUSER, INC. stock. The stock will be issued
on a restricted and investment basis, which
upon such issuance and delivery, shall be
fully paid and non-assessable: The stock
will also have registration rights attached,
the recipients shall be entitled to include
the shares in a registration of the Company's
common stock under the Act (including, but
not limited to, registration statements
relating to secondary offerings of the
Company's securities, but excluding
registration statements relating to any
employee benefit plan or corporate
reorganization), unless, in the event of an
underwritten offering, the underwriter
advises that the Shares should not be
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