|
|
|
|
Document Preview Stock Purchase Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Stock Purchase Agreement |
|||
|
Entities: |
||||
|
Date: |
2005 |
|||
|
Size: |
Preview shows 5KB of 21KB total |
|||
|
Price: |
$40 |
|||
|
ID: |
#1687005 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
<SEQUENCE>3
<FILENAME>maui8kreorgexh10-b.txt
<DESCRIPTION>MAUI 8-K REORGANIZATION EXH 10-B
<TEXT>
Exh. 10-b
STOCK PURCHASE AGREEMENT
dated as of December 9, 2005
by and between
RICHARD H. MILLER
an Individual, as the Seller
and
PALMERA HOLDINGS, INC.
a Florida corporation, as the Purchaser
This STOCK PURCHASE AGREEMENT is made as of the 9th day of December, 2005, by
and between RICHARD H. MILLER, an individual residing in Hawaii ("Seller")
and PALMERA HOLDINGS, INC., a Florida corporation ("Palmera")
WHEREAS the Seller has agreed to sell, and Palmera has agreed to purchase,
certain capital stock of Maui General Store, Inc., a New York corporation
("MGS"); and
WHEREAS, simultaneously with the closing of the sale contemplated hereunder,
Palmera will merge with and into MGS Acquisition Corp. (the "Merger Sub"), a
wholly owned subsidiary of MGS pursuant to the terms of a Merger Agreement to
be dated January 11, 2006 between Palmera and the Merger Sub (the "Merger
Agreement");
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1 DEFINITIONS
In this Agreement, all capitalized terms used and not otherwise defined
herein have the meanings assigned in the Merger Agreement. In addition, the
following terms have the meanings assigned:
1.1 "Agreement" means this Stock Purchase Agreement.;
1.2 "Closing" and "Closing Date" have the meanings ascribed thereto at
Section 2.3 hereof;
1.3 "Companies" means MGS and the Merger Sub;
1.4 "Escrow Agreement" means the Escrow and Interim Operations Agreement
annexed to the Reorganization Agreement as an appendix.
1.5 "Parties" means, collectively, Palmera and the Seller, and "Party" means
either of them;
1.6 "Palmera Merger" means the merger of Palmera into Merger Sub pursuant to
the Merger Agreement;
1.7 "Purchased Securities" means 50,000,000 MGS Shares: and
1.8 "Reorganization Agreement" means the agreement of that name dated of
even date herewith and signed by MGS, Seller, Purchaser and the share-
holders of Purchaser.
1.9 "Trinity Merger" means the merger of Trinity Biogenics, Inc. into MGS
Trinity Acquisition Corp. pursuant to the Agreement and Plan of Merger
to be dated January 11, 2006 among Trinity Biogenics, Inc., MGS and MGS
Trinity Acquisition Corp. (the "Trinity Merger Agreement").
2 PURCHASE AND SALE
2.1 Purchase and Sale. Upon and subject to the terms and conditions of
this Agreement, and in reliance upon the representations, warranties,
covenants and agreements herein contained, on the Closing Date (as
defined below) Palmera shall purchase from the Seller, and the Seller
shall sell, transfer and assign to Palmera, the Purchased Securities.
2.2 Purchase Price. The purchase price for the Purchased Securities shall
be Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00). The
purchase price shall be payable as follows:
a) On the Closing Date Purchaser shall pay the Residual Cash Payment to
the Escrow Agent named in the Escrow Agreement.
b) On the Final Payment Date Purchaser shall pay to Seller the sum of
Seven Hundred Fifty Thousand Dollars ($750,000) less the aggregate
amount paid pursuant to Section 2.2(a). The "Final Payment Date"
shall be the earlier of (i) the Effective Date of the Trinity Merger
or (ii) the date which is fifteen (15) days after the Funding Date,
which is defined in Section 2(b) of the Escrow and Interim Operations
Agreement annexed to the Reorganization Agreement. In the event that
the Trinity Merger Agreement terminates prior to the completion of the
Trinity Merger, this Stock Purchase Agreement shall terminate at the
same time.
2.2.1 The "Residual Cash Payment" shall equal twenty-five percent (25%) of
(i) the gross proceeds of the private offering now being conducted by
Palmera less
|
End of Preview |
Home Intelligence Services Subscriptions News About Us