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RESTRICTED STOCK PURCHASE AGREEMENT

Purchase and Sale Agreement

RESTRICTED STOCK PURCHASE AGREEMENT | Document Parties: PROMODOESWORK.COM, INC. | Allhomely International Limited You are currently viewing:
This Purchase and Sale Agreement involves

PROMODOESWORK.COM, INC. | Allhomely International Limited

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Title: RESTRICTED STOCK PURCHASE AGREEMENT
Governing Law: Nevada     Date: 1/20/2009

RESTRICTED STOCK PURCHASE AGREEMENT, Parties: promodoeswork.com  inc. , allhomely international limited
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EXHIBIT 10.2

 

RESTRICTED STOCK PURCHASE AGREEMENT

 

THIS RESTRICTED STOCK PURCHASE AGREEMENT (“Agreement”) is made as of the 15 day of January, 2009, by and between John Spencer, Derrick Waldman and Louis Waldman   ( collectively the “Sellers”) and Allhomely International Limited (“Purchaser”), as to two million two hundred thousand (2,200,000) restricted shares, of Promodoeswork.com Inc., a Nevada corporation.

 

RECITALS

 

WHEREAS, the Sellers are the owners of two million two hundred thousand (2,200,000)   restricted shares of common stock (the “Shares”) of Promodoeswork.com Inc., a Nevada corporation (the "Company"); and

 

WHEREAS, John Spencer owns one hundred thousand (100,000) of the Shares, Derrick Waldman owns one hundred thousand (100,000) of the Shares, and Louis Waldman owns two million (2,000,000) of the Shares; and

 

WHEREAS, the Sellers propose to sell to the Purchaser all of the Shares currently owned by the Sellers by and according to the terms set forth herein.

 

NOW THEREFORE, In consideration of the premises, representations, warranties and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.

PURCHASE, SALE AND CLOSING

 

1.1                    The Seller hereby agrees to sell, assign, transfer and deliver to the Purchaser, and the Purchaser hereby agrees to purchase from the Seller, the Shares for the purchase price of  Eighty Seven Thousand Five Hundred  U.S. Dollars ( $87,500.00 ) (the "Purchase Price").  The full amount of the Purchase Price shall be delivered U.S. Dollars, by wire transfer to an escrow account established with Andrew J Befumo, PLLC, (“Escrow Agent”).

 

1.2                     Closing .  The closing (“Closing”) of the transactions contemplated hereby will occur on, or, before the15 day of  January, 2009 (the “Closing Date”).

 

2.

REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

2.1                    The Seller warrants, covenants and represents to the Purchaser that:

 

 

(d)

immediately prior to and at the Closing, the Seller shall be the legal and beneficial owner of the Purchased Shares and on the Closing Date, the Seller shall transfer to the Purchaser the Purchased Shares free and clear of all liens, restrictions, covenants or adverse claims of any kind or character;

 

 

 


 

 

 

(e)

the Seller has the legal power and authority to execute and deliver this Agreement and all other documents required to be executed and


 
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