1
EXHIBIT 4(c)(7)
STOCK PURCHASE AGREEMENT
Agreement made this 2nd day of October, 1995, between Xx. Xxxx Xxxxxxx,
of London, England ("Seller") and Ameribank Corporation, of Shawnee, Oklahoma
("Purchaser").
In consideration of the mutual covenants herein and other valuable
consideration, the parties agree as follows:
1. Seller agrees to sell to Purchaser who agrees to purchase
66,000 shares of the common capital stock of United Oklahoma Bankshares, Inc.
(the "Company"), fully paid, (the "Shares") for a purchase price equal to the
higher of (i) $.50 per share or (ii) in the event a tender is made for the
common shares held by public shareholders in the next twelve (12) months, the
tender price (the "Purchase Price").
2. This sale is not effective, and the title to the stock shall
not pass from Seller to Purchaser until formal approval for such transfer has
been obtained from the Federal Reserve Board ("FRB").
3. The Purchase Price and the Shares shall be deposited in escrow
with Fox Xxxx, Xxxxxx Limited in account with Correspondent Services Corp.
pursuant to a mutually acceptable Escrow Agreement. The Purchase Price shall
be delivered to Seller and the Shares shall be delivered to Purchaser upon the
Escrow Agent's receipt of FRB approval. In the event such approval is not
obtained on or before December 31, 1995, the Escrow Agent shall redeliver the
Purchase Price to Purchaser and the Shares to Seller.
4. Seller represents and warrants to Purchaser that the stock to
be transferred hereunder will be free and clear of any and all liens or
encumbrances and that Seller has the full power and authority to make such
assignment and sale.
5. Any notice required hereunder shall be given in writing by
registered mail and shall be deemed to have been given on the date such notice
is posted, with postage prepaid, addressed to the last address of the
addressee.
6. This Agreement shall be binding upon the parties hereto, their
successors and assigns.
7. This Agreement shall be governed by the laws of the State of
Oklahoma.
IN WITNESS WHEREOF, the parties have executed this Agreement on the
date first written above.
SELLER PURCHASER
XXXX XXXXXXX AMERIBANK CORPORATION
By: /s/ XXXX XXXXXXX By: /s/ X. XXXXX XXXXXXXX
------------------------- --------------------------
Xxxx Xxxxxxx Its: V.P.
----------------------
