AGREEMENT FOR THE PURCHASE AND SALE OF STOCK
FEBRUARY 26, 1998
Xxxxxx X. Xxxxx of 0000 Xxxxxx Xxxxxx, Xxxxx, Xxxxxxxx 00000
("Xxxxx") hereby agrees to sell 120,000 shares of common stock (the "Shares") of
Quality Products, Inc. ("Quality") to Xxxxxx Xxxxxxxxx, c/o Eastlake Securities,
Inc., 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 ("Xxxxxxxxx") on the
following terms and conditions:
1. Xxxxx represents and warrants that he has conducted his own
investigation and due diligence concerning Quality and the terms of the sale and
is not relying upon any representation or warranty or other information,
disclosed or undisclosed, from Xxxxxxxxx or any other person with respect to
Quality or this transaction, except as specifically set forth herein. Xxxxxxxxx
likewise represents and warrants that he is not relying upon any representation
or warranty or other information, disclosed or undisclosed, from Xxxxx or any
other person with respect to Quality or this transaction, except as specifically
set forth herein.
2. Xxxxx shall send his Quality stock certificates by FedEx
today to Quality's transfer agent, Xxxxx Xxxxxx Shareholder Services, 00
Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxxx, Xxxxxxxxxx Xxxx, Xxx Xxxxxx 00000, (201)
296-4224, Attention: Ms. Xxxxxxx Del Vecchio, together with separate stock
powers with medallion signature guaranteed, instructing that 120,000 shares be
issued to Xxxxxxxxx.
3. Xxxxx represents and warrants that he is the sole and
exclusive owner of the Shares, with the unqualified right to sell and transfer
them to Xxxxxxxxx, and that such Shares are not subject to any lien, claim,
pledge or security interest.
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4. Xxxxxxxxx shall pay $100,000 to Xxxxx for the Shares. On or
before March 2, 1998, Xxxxxxxxx shall deposit $100,000 in escrow with the law
firm of Xxxxxxxx Xxxx Xxxxxxxx Xxxxxx Xxxxxxxx & Xxxxx P.C., which firm shall
disburse the funds to Xxxxx within two (2) business days after receipt of notice
of Xxxxxxxxx'x receipt of new certificates for the Shares.
Dated: February 26, 1998
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Xxxxxx X. Xxxxx, SS ID# ###-##-####
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Xxxxxx Xxxxxxxxx, SS ID# ###-##-####
XXXXXXXX BROG LEINWAND XXXXXX
XXXXXXXX & XXXXX P.C., solely with
respect to its obligations under the
second sentence of paragraph 4
By:_________________________________
Xxxxxxx X. Xxxxx
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