SHARE TRANSFER AGREEMENT
This Agreement dated effective the 23rd day of
November, 2007
BETWEEN:
JONATHAN MOORE
of
13747 57A Avenue, Surrey, BC, Canada, V3X 2V6
(“Mr.
Moore”)
OF THE FIRST PART
AND:
NAOMI MOORE
of
13747 57A Avenue, Surrey, BC, Canada, V3X 2V6
(“Mrs.
Moore”)
OF THE SECOND
PART
AND:
PAUL C.
KIRKITELOS of
111 N. Sepulveda Blvd., Suite 250, Manhattan Beach, CA 90266
(the
“Purchaser”)
OF THE THIRD PART
WHEREAS:
A. The
Purchaser is the President, Secretary and Treasurer of the Company,
as defined below, and Mr. Moore and Mrs. Moore are the sole
directors of the Company;
B. The
Purchaser has agreed to purchase, and Mr. Moore and Mrs. Moore have
agreed to sell, all of the shares of the Company owned by Mr. Moore
and Mrs. Moore on the terms, and subject to the conditions, as set
out in this Agreement,
THIS AGREEMENT WITNESSES THAT in
consideration of the premises, and the covenants, agreements,
representations, warranties and payments set out and provided for
herein, the parties hereto covenant and agree with each other as
follows:
1.
INTERPRETATION
1.1
Where used herein or in any amendments or schedules hereto, the
following terms shall have the following meanings:
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(a) |
“Company” means Language Enterprises
Corp.
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(b) |
"Company Shares" means the shares of the Company
legally and beneficially owned by the Transferors.
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(c) |
“Purchase Price” means the purchase
price set out in Section 2.2 hereto.
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(d) |
“SEC” means the United States
Securities and Exchange Commission.
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(e) |
“Securities Act” means the United
States Securities Act of 1933, as amended.
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(f) |
“Securities Exchange Act” means the
United States Securities Exchange Act of 1934, as amended.
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(g) |
“Vendors” means, collectively, Mr.
Moore and Mrs. Moore, and “Vendor” means any one of the
Vendors.
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1.2
All dollar amounts referred to in this Agreement are in United
States funds, unless expressly stated otherwise.
2.
PURCHASE AND SALE OF SHARES
2.1
Upon the terms and subject to the conditions of this Agreement, the
Vendors hereby agree to sell to the Purchaser, and the Purchaser
hereby agrees to purchase from the Vendors, the following shares of
the Company (collectively, the “Company Shares”), free
and clear of all liens, charges and encumbrances whatsoever:
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Jonathan Moore
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1,170,000 shares in the common stock of the
Company
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Naomi Moore
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1,170,000 shares in the common stock of the
Company
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2.2
In consideration for the sale of the Company Shares by the Vendors
to the Purchaser, the Purchaser agrees to pay the purchase price of
$124,990 to each of the Vendors, being $249,980 in the aggregate
(the “Purchase Price”), upon closing as set out in
Sections 5.1 and 5.2 hereto.
3.
COVENANTS, REPRESENTATIONS AND WARRANTIES OF THE
PURCHASER
The Purchaser hereby covenants with and acknowledges, represents
and warrants to the Vendors as follows, and acknowledge that the
Vendors are relying upon such covenants, acknowledgements,
representations and warranties in connection with the sale of the
Company Shares to the Purchaser:
3.1
The Purchaser is an executive officer of the Company, is familiar
with the business, assets, prospects and financial condition of the
Company, has had full opportunity to discuss this information with
the Purchaser’s legal, business and financial advisors, and
believes that he has received all of the information he considers
necessary or appropriate for deciding whether to purchase the
Company Shares from the Vendors.
3.1
The Purchaser acknowledges that the purchase of the Company Shares
involves a high degree of risk, and that he can bear the economic
risk of an investment in the Company Shares, and has the knowledge
and experience necessary to evaluate for himself or with the advise
of his legal, business and financial advisors, the merits and risks
associated with purchasing the Company Shares from the Vendors.
3.2
The Purchaser is acquiring the Company Shares for the
Purchaser’s own account for investment purposes, with no
present intention of dividing his interest with others or reselling
or otherwise disposing of any or all of the Company Shares, does
not intend any sale of the Company Shares after the passage of a
fixed or determinable period of time or upon the occurrence or
non-occurrence of any predetermined event or circumstance.
3.3
The Purchaser acknowledges and agrees that the Company Shares are
“restricted securities” as contemplated under the
Securities Act, which were issued pursuant to an exemption from the
registration requirements of the Securities Act. The Purchaser
further acknowledges and agrees that the sale of the Company Shares
by the Vendors has not been registered under the Securities Act,
and that all certificates representing the Company Shares will be
endorsed with a legend substantially similar to the following:
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“ THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 (THE "ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON EXEMPTIONS
FROM THE REGISTRATION REQUIREMENTS OF THE ACT. SUCH SECURITIES MAY
NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED UNLESS
THEY ARE REGISTERED UNDER THE APPLICABLE PROVISIONS OF THE ACT OR
ARE EXEMPT FROM SUCH REGISTRATION. ”
3.4
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