STOCK PURCHASE
AGREEMENT
THIS STOCK PURCHASE AGREEMENT (“
Agreement ”), dated as of [__________] [___], 2008, is
by and between [_________________] , an adult individual
residing in the State/Province of [_____________] ("
Purchaser "), and ST. JOSEPH INC. , a Colorado
corporation (“ Seller ”) (collectively, the
“ Parties ”).
WITNESSETH
WHEREAS, Seller has offered for sale to
Purchaser shares of common stock of Seller (the " Shares ")
at a purchase price of $0.05 per Share as part of a private
placement of its stock to “accredited investors” only
(as that term is defined in SEC Rule 501) described in the term
sheet for such private placement (the “ Term
Sheet’ ).
WHEREAS, Seller desires to sell to Purchaser and
Purchaser desires to purchase from Seller, [_________] Shares upon
the terms and conditions set forth herein.
NOW THEREFORE, in consideration of the promises
and respective mutual agreements herein contained, it is agreed by
and between the Parties hereto as follows:
ARTICLE 1
SALE AND PURCHASE OF THE
SHARES
1.1
Sale of the Shares. Upon execution of this Agreement (the "
Closing "), subject to the terms and conditions herein set
forth, and on the basis of the representations, warranties and
agreements herein contained, Seller shall sell to Purchaser, and
Purchaser shall purchase from Seller, the Shares.
1.2
Instruments of Conveyance and Transfer . As soon
as practicable after the Closing, Seller shall deliver a
certificate or certificates representing the Shares of Seller to
Purchaser sufficient to transfer all right, title and interest in
the Shares to Purchaser.
1.3
Consideration and Payment for the Shares . In
consideration for the Shares, Purchaser shall pay a purchase price
of a total of [____________________] ($[__________USD]) ($0.05 per
Share) (“ Purchase Price ”).
ARTICLE 2
REPRESENTATIONS AND COVENANTS OF
SELLER AND PURCHASER
2.1 Seller
hereby represents and warrants that:
(a) The
Shares issued hereunder have been duly authorized by the
appropriate corporate action of Seller.
(b) Seller
shall transfer title, in and to the Shares to Purchaser free and
clear of all liens, security interests, pledges, encumbrances,
charges, restrictions, demands and claims, of any kind and nature
whatsoever, whether direct or indirect or contingent.
(c) As
soon as practicable after the Closing Date, Seller shall deliver to
Purchaser a certificate or certificates representing the Shares
subject to no liens, security interests, pledges, encumbrances,
charges, restrictions, demands or claims in any other party
whatsoever, except as set forth in the legend on the certificate,
which legend shall provide substantially as follows:
THE SHARES (OR
OTHER SECURITIES) REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933. THE SHARES
MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION
OR AN OPINION OF COUNSEL THAT AN EXEMPTION FROM REGISTRATION UNDER
SUCH ACT IS AVAILABLE.
(d) Purchaser
acknowledges that the Shares will initially be “restricted
securities” (as such term is defined in Rule 144 promulgated
under the Securities Act of 1933, as amended (“Rule 144"),
that the Shares will include the foregoing restrictive
legend, and, except as otherwise set forth in this Agreement, that
the Shares cannot be sold unless registered with the United States
Securities and Exchange Commission (“ SEC ”) and
qualified by appropriate state securities regulators, or unless
Purchaser obtains written consent from Seller and otherwise
complies with an exemption from such registration and qualification
(including, without limitation, compliance with Rule
144).
(e) Purchaser
acknowledges and agrees that Seller makes no other representations
or warranties with respect to the Shares or the Seller.
2.2 Purchaser
represents and warrants to Seller as follows:
(a) Purchaser
has adequate means of providing for current needs and
contingencies, has no need for liquidity in the investment, and is
able to bear the economic risk of an investment in the Shares
offered by Seller of the size contemplated. Purchaser
represents that Purchaser is able to bear the economic risk of the
investment and at the present time could afford a complete loss of
such investment. Purchaser has had a full opportunity to
inspect the books and records of the Seller and to make any and all
inquiries of Seller officers and directors regarding the Seller and
its business as Purchaser has deemed appropriate.
(b) Purchaser
is an “ Accredited Investor ” as defined in
Regulation D of the Securities Act of 1933 (the “ Act
”) or Purchaser, either alone or with Purchaser’s
professional advisers who are unaffiliated with, have no equity
interest in and are not compensated by Seller or any affiliate or
selling agent of Seller, directly or indirectly, has sufficient
knowledge and experience in financial and business matters that
Purchaser is capable of evaluating the merits and risks of an
investment in the Shares offered by Seller and of making an
informed investment decision with respect thereto and has the
capacity to protect Purchaser’s own interests in connection
with Purchaser’s proposed investment in the
Shares. Purchaser has accurately completed the
Certificate of Accredited Status attached as Exhibit A
.
(c) Purchaser
is acquiring the Shares solely for Purchaser’s own account as
principal, for investment purposes only and not with a view to the
resale or distribution thereof, in whole or in part, and no other
person or entity has a direct or indirect beneficial interest in
such Shares.
(d) Purchaser
will not sell or otherwise transfer the Shares without registration
under the Act or an exemption therefrom and fully understands and
agrees that Purchaser must bear the economic risk of
Purchaser’s purchase for an indefinite period of time
because, among other reasons, the Shares have not been registered
under the Act or under the securities laws of any state and,
therefore, cannot be resold, pledged, assigned or otherwise
disposed of unless they are subsequently registered under the Act
and under the applicable securities laws of such states or unless
an exemption from such registration is available.
(e) Purchaser
had an opportunity (i) to discuss the Seller's business, management
and financial affairs with management of the Seller and (ii) to
review the Seller's operations and facilities.
(f) Purchaser
has received and read the Term Sheet.
ARTICLE 3
GENERAL PROVISIONS
3.1
Entire Agreement. This Agreement sets forth the
entire agreement and understanding of the parties hereto with
respect to the transactions contemplated hereby, and supersedes all
prior agreements, arrangements and understandings related to the
subject matter hereof. No un