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Title: |
Stock Purchase Agreement |
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Entities: |
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Date: |
2005 |
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Size: |
Preview shows 2KB of 9KB total |
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Price: |
$40 |
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ID: |
#2176655 |
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STOCK PURCHASE AGREEMENT
THIS STOCK PURCHASE AGREEMENT, made and entered into as of October 18, 2005
by and between RICHARD COOMBE (hereinafter together referred to as the "Buyer")
and G. TYLER RUNNELS (the "Seller").
W I T N E S S E T H:
WHEREAS, the Seller is the holder of shares of the outstanding common stock
of General Devices, Inc., a Delaware corporation (the "Company); and
WHEREAS, the Seller desires to sell 100,000 of such shares (referred to
hereinafter as the "Shares") to Buyer and Buyer desires to purchase the Shares
on the terms and subject to the conditions set forth herein;
NOW THEREFORE, in consideration of the premises and the mutual covenants
set forth below and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, and intending to be legally bound,
the parties hereto do hereby agree as follows:
I.
PURCHASE AND SALE OF SHARES
SECTION 1.01 Purchase and Sale of Shares. Subject to the terms and
conditions set forth herein, effective immediately upon the execution hereof,
Seller shall sell to the Buyer, and the Buyer shall purchase from Seller the
Shares. Seller shall transfer all of its right, title, and interest in and to
the Shares being conveyed by it to Buyer free and clear of any lien, security
interest, or other encumbrance of any nature and free of any claim by any person
or entity to or against the Shares.
SECTION 1.02 Purchase Price. The purchase price of the Shares (hereinafter
referred to as the "Purchase Price") shall be the cash sum of $0.217193 per
Share and the agreement and promises set forth herein.
SECTION 1.03 Deliveries. Upon execution of this Agreement, Seller shall
deliver to Buyer certificates representing the Shares, duly endorsed for
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