STOCKHOLDERS VOTING AGREEMENT Among Joel L. Levin, as Designated Agent and the Participating Stockholders identified on EXHIBIT A hereto Dated: December 9, 2008
Among
Xxxx X. Xxxxx, as Designated Agent
and the Participating Stockholders identified on EXHIBIT A hereto
Dated: December 9, 2008
TABLE OF CONTENTS
Page | ||||
VOTING AGREEMENT |
3 | |||
PROXY |
3 | |||
POWERS AND DUTIES OF DESIGNATED AGENT |
3-4 | |||
PURPOSE |
4 | |||
CHANGES IN COMMON STOCK |
4 | |||
REPRESENTATIONS AND WARRANTIES OF STOCKHOLDERS; INDEMNIFICATION |
4-5 | |||
COVENANTS AND AGREEMENTS OF STOCKHOLDERS |
5 | |||
RESIGNATION OF DESIGNATED AGENT |
5 | |||
SUCCESSOR PROXY |
5 | |||
TERM OF AGREEMENT |
5 | |||
EFFECT OF TERMINATION |
5 | |||
NOTICE |
5 | |||
PAYMENT OF EXPENSES AND TAXES |
5-6 | |||
AMENDMENT OF AGREEMENT |
6 | |||
INJUNCTIVE RELIEF |
6 | |||
CONSTRUCTION OF AGREEMENT |
6 | |||
MISCELLANEOUS |
6-7 | |||
EXHIBIT A |
19 | |||
EXHIBIT B |
20 |
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This STOCKHOLDERS VOTING AGREEMENT made this 9th day of December, 2008 by and among Xxxx X
Xxxxx, an individual (the “DESIGNATED AGENT”) and each of the stockholders identified on EXHIBIT A
hereto (the “PARTICIPATING STOCKHOLDERS”, and together with the Designated Agent,
collectively referred to herein as the “STOCKHOLDERS”).
WHEREAS, the Stockholders are each an owner of issued and outstanding shares of Common Stock,
par value $0.001 per share (the “Stock”) of Spongetech Delivery Systems, Inc., a Delaware
corporation (the “COMPANY”);
WHEREAS, the Stockholders deem it to be in the best interest of the Company and its
stockholders to enter into this Agreement and to grant to the Designated Agent a proxy (the
“PROXY”) in connection herewith; and
WHEREAS, the Stockholders desire to enter into an agreement to be specifically enforceable
against each of them pursuant to which they agree to vote and sell their shares of Owned Stock (as
such term is defined in Section 1 hereof) in accordance with this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Stockholders
hereby agree as follows:
1. Voting Agreement. Each Participating Stockholder hereby agrees to vote all of the
Stock now or hereafter owned of record, beneficially owned, or controlled by such Participating
Stockholder (“Owned Stock”), as directed by the Designated Agent, in the Designated Agent’s sole
and absolute discretion. This will include each and every matter submitted to the Company’s
stockholders for stockholder vote, consent, waiver, release, or other action and the right to take
part in any corporate or stockholders’ action, whether ordinary or extraordinary, and on any other
matter that the Designated Agent may request. The Participating Stockholders will not have any
right under this Agreement or otherwise, with respect to any matter on which they are entitled to
vote as stockholders of the Company, to vote or to take part in any corporate or stockholders’
action or to do or perform any act or thing that stockholders of the Company are now or may
hereafter become entitled to do or to perform, EXCEPT as may be directed by the Designated Agent.
Notwithstanding the foregoing, however, this Agreement will not affect the right of a Participating
Stockholder, in such Participating Stockholder’s capacity as a stockholder of the Company, to sell
or otherwise transfer their Owned Shares or to receive distributions, assets, dividends, evidences
of indebtedness, or otherwise, that may be distributed by the Company to its stockholders from time
to time. In such sale or other transfer of Owned Shares shall release such Shares from this
Agreement.
2. Proxy. In order to insure the obligations of each of the Participating Stockholders
to vote such Participating Stockholder’s Owned Stock in accordance with the provisions of Section 1
hereof, each of the Participating Stockholders will execute and deliver contemporaneously herewith
a Proxy, in the form attached as EXHIBIT B hereto, granting to the Designated Agent the right to
vote, or to execute and deliver stockholder written consents, in respect of all Owned Stock of such
Participating Stockholder; PROVIDED, HOWEVER, that the authority granted to the Designated Agent
hereunder will not apply to any vote on any merger, sale or other transaction with an entity in
which the Designated Agent has or will have an equity ownership interest that is disproportionately
high in relation to the Participating Shareholders.
3. Powers and Duties of Designated Agent.
(a) DISCRETION OF DESIGNATED AGENT. In directing the voting of the Participating Stockholders,
or in exercising the Designated Agent’s rights to vote as such Participating Stockholders’ proxy,
or in doing any act with respect to the furtherance of this Agreement, or otherwise acting
hereunder, the Designated Agent will exercise the Designated Agent’s sole and absolute discretion.
(b) COMPENSATION. The Designated Agent will serve as such without compensation.
(c) IMMUNITIES OF THE DESIGNATED AGENT. The Designated Agent will incur no responsibility or
liability to the Participating Stockholders, as Designated Agent, stockholder, Director,
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trustee, or otherwise, by reason of any error of judgment or mistake of law or other mistake,
or for any misconstruction of this Agreement, or for any action of any sort taken or omitted
hereunder or believed by the Designated Agent to be in accordance with the provisions and intent
hereof or otherwise, except for the Designated Agent’s own individual willful misconduct.
(d) RELIANCE BY THE DESIGNATED AGENT. In the discharge of the Designated Agent’s duties
hereunder, the Designated Agent will be fully protected in acting in reliance upon any instrument,
document, or paper believed by the Designated Agent to be genuine and to have been executed by the
proper parties. The Designated Agent will likewise be fully protected in taking or refraining from
taking any action hereunder in reliance upon any certificate or certificates purporting to be duly
signed, as to the existence or non-existence of any fact or facts, or the performance or
non-performance of any act or acts, and may accept as conclusive any statement made in any such
certificate.
(e) BOND; ADVISORS. The Designated Agent will not be required to give bond or security for the
discharge of the Designated Agent’s duties under this Agreement. The Designated Agent may, in the
Designated Agent’s sole and absolute discretion, consult with counsel to be selected by the
Designated Agent and will incur no liability to the Participating Stockholders in respect of any
action taken on the advice of any such counsel.
4. Purpose. It is the express desire of the Stockholders to maximize stockholders,
value of the Company, which may include, without limitation: (a) the sale or merger of the Company;
(b) electing Directors to the Company’s Board of Directors; (c) amending the Company’s Certificate
of Incorporation or Bylaws; or (d) some combination of any one or more of the forgoing.
Notwithstanding the foregoing, none of the Participating Stockholders has acquired securities of
the Company with the purpose, or with the effect of, changing or influencing the control of the
Company.
5. Changes in Common Stock. In the event that subsequent to the date of this Agreement, any
shares or other securities (other than any shares or securities of another corporation issued to
the Company’s stockholders pursuant to a plan of merger) are issued on, or in exchange for, any of
the shares of the Stock held by the Stockholders by reason of any stock dividend, stock split,
consolidation of shares, reclassification, or consolidation involving the Company, or any shares of
Stock or other Company securities are acquired or obtained by a Participating Stockholder through
an open market transaction, exercise of an option, warrant, lapse of restrictions, or other right
to acquire or obtain Stock or other Company securities, or otherwise, such shares or securities
shall be deemed to be Owned Stock for purposes of this Agreement and the Proxy.
6. Representations and Warranties of Stockholders; Indemnification. Each Participating
Stockholder hereby represents and warrants to each of the other Participating Stockholders and the
Designated Agent that as of the date hereof: (a) such Participating Stockholder is the beneficial
owner of and has the right to vote the number of shares of Owned Stock set forth opposite such
Participating Stockholder’s name on EXHIBIT A attached hereto, such shares of Owned Stock
constitute all of the capital stock of the Company owned or controlled by such Participating
Stockholder, and such shares of Owned Stock are owned or controlled by such Participating
Stockholders free from any liens, encumbrances, or adverse claims, including, without limitation,
margin call rights; (b) such Participating Stockholder has full power to enter into this Agreement
and has not, prior to the date of this Agreement, executed or delivered any proxy or entered into
any other voting agreement or similar arrangement, other than one which has expired or terminated
prior to the date hereof; (c) to such Participating stockholder’s knowledge, there are no pending
or threatened claims, lawsuits, investigations, causes of action, or grievances of the Company,
whether derivative or direct, relating to or arising out of, such Participating Stockholder’s
relationship with the Company, its stockholders, directors, suppliers, customers or otherwise; (d)
such Participating Stockholder has complied in all respects with all applicable Federal, state and
foreign securities laws and regulations with respect to the acquisition of such Participating
stockholder’s Owned Stock; (e) such Participating Stockholder will not take any action inconsistent
with the purposes and provisions of this Agreement; and (f) the Participating Stockholder has
reviewed the proposed Schedule 13G to be filed by the Designated Agent and confirms that the
information therein, as it relates to such Participating Stockholder, is true and correct in all
respects. Each Participating Stockholder hereby agrees to indemnify and hold harmless each other
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Participating Stockholder and the Designated Agent from any and all costs, expenses, losses,
damages, and liabilities incurred or suffered, by any of them (including, without limitation,
legal, accounting, and professional expenses), resulting from, or attributable to, the breach of,
or misstatement in, any one or more of the representations, warranties, agreements, and covenants
of such Participating Stockholder contained in this Agreement.
7. Covenants and Agreements of Stockholders.
(a) TRANSFERS . This Agreement shall NOT preclude a Participating Stockholder from purchasing
additional shares of the Company or from selling or otherwise disposing of any shares of the
Company.
(b) MATERIAL CHANGES. Each Participating stockholder covenants and agrees that such
Participating Stockholder will promptly notify the Designated Agent in writing of any event or
change in circumstance that would render the representations and warranties of such Participating
Stockholder false or inaccurate, or misleading in any material respect or of any purchases,
acquisitions, sale or other disposition of additional shares of the Company.
(c) NO ADDITIONAL PROXIES. Each Participating Stockholder covenants and agrees that during the
term of this Agreement, such Participating Stockholder will not grant any other proxy or voting
rights with respect to any Owned Stock.
8. Resignation of Designated Agent. The Designated Agent may at any time resign by delivering
to the Participating Stockholders the Designated Agent’s written notice of such resignation, to
take effect not sooner than ten (10) days from the date the notice is given.
9. Successor Proxy. Upon the death or the Permanent Disability (as such term is defined below)
of the Designated Agent, Xxxx Xxxx Xxxxx will become the successor Designated Agent hereunder,
unless Participating Stockholders holding at least seventy percent “70%” of the Owned Stock subject
to this Agreement appoint a different successor Designated Agent. Upon such death or Permanent
Disability and appointment of a successor Designated Agent, each Participating Stockholder agrees
to execute and deliver to Xx. Xxxx Xxxx Xxxxx or such other successor appointed by the
Participating Stockholders, as the case may be, an additional Proxy naming Xxxx Xxxx Xxxxx or such
other successor appointed by the Participating stockholders, as the case may be, as proxy therein.
For purposes of this Agreement, the term “Permanent Disability” means permanent disability as
determined by any physician of The Cleveland Clinic of Cleveland, Ohio or its successors and
assigns.
10. Term of Agreement. This Agreement shall remain in effect until December 31, 2009 unless
sooner terminated by: (a) resignation of the Designated Agent in accordance with Section 8 hereof;
(b) the completion of a sale of the Company, whether by merger, tender offer, exchange offer, or a
sale of all or substantially all of the Company’s assets; or (c) upon the affirmative vote or
consent of Participating Stockholders holding at least a majority of the shares of Owned Stock.
11. Effect of Termination. Upon the termination of this Agreement in accordance with Section
10 hereof, this Agreement will be of no further force and effect and the Designated Agent and each
of the Participating Stockholders will timely file an amended Schedule 13G evidencing such
termination.
12. Notice. All notices, requests, demands and other communications to be given to any
Stockholder under this Agreement must be in writing and will be deemed duly given: (a) when
personally delivered; (b) upon receipt of a telephonic facsimile transmission with a confirmed
facsimile transmission answer back; (c) three (3) days after having been deposited in the United
states mail, certified or registered, return receipt requested, postage prepaid; or (d) one (1)
business day after having been dispatched by a nationally recognized overnight courier service,
delivery fees prepaid, addressed to such Stockholder at the address set forth on EXHIBIT A hereto
(Or at such other address or number as is given in writing by such Stockholder to the Designated
Agent).
13. Payment of Expenses and Taxes. All expenses incurred by the Designated Agent, including
the compensation of agents, accountants, professionals, and attorneys employed by the Designated
Agent, incident to the performance of the Designated Agent’s duties hereunder (including the
preparation of this Agreement), will be paid by the Designated Agent, who will be immediately and
fully reimbursed by those Stockholders identified on Exhibit A who have agreed to share expenses on
a
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expenses shared pro rata in proportion to their ownership of Owned Stock subject to this
Agreement:
14. Amendment of Agreement. This Agreement may be amended at anytime and from time to time
with the written consent of both the Designated Agent and the affirmative vote or consent of
Stockholders holding at least seventy percent (70%) of the Owned Stock subject to this Agreement;
PROVIDED, that this Agreement may be amended by the Designated Agent without the consent or
approval of the Stockholders if such amendment is solely for the purpose of conforming with any
rule, regulation, or requirement of the Securities and Exchange Commission or any other Federal,
state, foreign or local authority. Except in cases of conforming amendments, the Designated Agent
will cause to be sent to the Stockholders a copy of the proposed amendment and a form which may be
appropriately marked and returned to the Designated Agent for the purpose of determining whether
the Stockholders holding the requisite amount of the owned Stock approve such amendment.
15. Injunctive Relief. It is acknowledged by each Participating Stockholder that it will be
impossible to measure the damages that would be suffered by the Designated Agent and the other
Participating stockholders if a Participating Stockholder fails to comply with all the provisions
of this Agreement and that in the event of any such failure, the Designated Agent and the other
Participating Stockholders will be irreparably injured and will not have an adequate remedy at law.
Each Participating Stockholder hereby acknowledges and agrees that, in the event any Participating
Stockholder fails to comply with any provision of this Agreement, the Designated Agent will be
entitled, without the posting of bond, to obtain specific performance of the Participating
Stockholders’ obligations hereunder, and to obtain immediate injunctive relief. Each Participating
Stockholder agrees not to assert, and hereby waives, as a defense in any proceeding for such
specific performance or injunctive relief, that the Designated Agent or the other Participating
Stockholders have an adequate remedy at law. The remedies described herein are not be the exclusive
remedies for any breach of this Agreement, but shall be in addition to all other remedies available
at law or equity,
16. Construction of Agreement. The Designated Agent is authorized and empowered to construe
this Agreement. The Designated Agent’s construction of the same made in good faith will be final,
conclusive, and binding upon all parties hereto and upon all other interested parties.
17. Miscellaneous.
(a) ENTIRE AGREEMENT. Once executed by all the Stockholders, this Agreement will contain the
entire understanding among the parties, There are no representations, agreements, arrangements, or
understandings, oral or written, between or among the parties hereto relating to the subject matter
of this Agreement which are not fully expressed herein.
(b) BINDING Agreement will be binding upon and inure to the benefit of the heirs, executors,
administrators, successors, and permitted assigns of the parties hereto.
(c) COUNTERPARTS. This agreement may be executed in one or more counterparts, each of which
will be deemed to be an original, and such counterparts will together constitute one and the same
instrument. The execution by any one party of any counterpart will be sufficient execution by that
party, whether or not the same counterpart has been executed by any other party.
(d) GENDER; NUMBER. Whenever the context of this Agreement requires, the masculine gender
includes the neuter or feminine, and the singular number includes the plural.
(e) EFFECTIVENESS OF AGREEMENT. This Agreement will become effective only at such time as it
is signed by all the Stockholders.
(f) GOVERNING LAW. The validity of this Agreement, or any part hereof, and the interpretation
and enforcement of all provision hereof, will be governed, construed, and enforced in accordance
with the internal, substantive laws of the State of Delaware.
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(g)
INVALIDITY. The invalidity of any term or provisions of this Agreement will not affect the
validity of the remainder of this Agreement and this Agreement will be enforced to the greatest
extent permitted by law.
(h) HEADINGS. The section headings contained in this Agreement are for reference purposes only
and will not affect in any way the meaning or interpretation of this Agreement.
(i) ENFORCEABILITY. If any provision of this Agreement shall be declared void or unenforceable
by any court or administrative board of competent jurisdiction, such provision shall be deemed to
have been severed from the remainder of this Agreement and this Agreement shall continue in all
respects to be valid and enforceable.
(j) NO WAIVER. No waivers of any breach of this Agreement extended by any party hereto to any
other party shall be construed as a waiver of any rights or remedies of any other party hereto or
with respect to any subsequent breach.
(k) SEPARATE LEGAL COUNSEL. Each Participating Stockholder acknowledges and agrees that (1)
Xxxxxx Xxxxxx Xxxxxx & Xxxxxx LLP., has been retained by and solely represents the Designated Agent
in connection herewith; and (2) such Participating Stockholder has been advised by independent
legal counsel in connection with the negotiation, execution, and delivery of this Agreement.
(l) NO THIRD PARTY BENEFICIARIES. This Agreement is being entered into solely for the benefit
of the Stockholders that are parties hereto and except as otherwise provided herein, the parties
hereto do not intend to confer any benefits on any person, firm or corporation other than the
Stockholders. This Agreement and the rights and benefits conferred hereby may only be enforced by
the Stockholders that are parties hereto.
(m) JURISDICTION; JURY TRIAL. Each Stockholder hereby irrevocably submits to the mandatory and
exclusive jurisdiction of the United States District Court for the Northern District of Ohio,
Eastern Division, or in the absence of Federal Court subject-matter jurisdiction, to the mandatory
and exclusive jurisdiction of the Cuyahoga County, Ohio Court of Common Pleas, for adjudication of
any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein, and further stipulates that either such court is the proper venue for such
dispute, and hereby irrevocably waives and agrees not to assert in any suit, action or proceeding,
any claim that such Stockholder is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such
suit, action or proceeding is improper. Each Stockholder hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a
copy thereof by Certified U.S. Mail to such Stockholder at the street address for such notices set
forth on EXHIBIT A hereto, and agrees that such service shall be deemed to irrevocably waive any
right such Stockholder may have, and agrees not to request, a jury trial for the adjudication of
any dispute hereunder.
IN WITNESS WHEREOF, the Designated Agent and the Participating Stockholders have executed this
Agreement as of the date first above written.
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DESIGNATED AGENT
|
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/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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/s/ Xxxx X. Xxxxx |
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/s/ Xxxx Xxxx Xxxxx |
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Xxxx Xxxx Xxxxx |
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COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
XXX XXXXX EDUCATIONAL TRUST |
||||
By: | /s/ Xxxx Xxxx Xxxxx | |||
Name Xxxx Xxxx Xxxxx | ||||
Title: | TRUSTEE |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
9
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxxx X. Xxxxxxx | ||||
Xxxxxx X. Xxxxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
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COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
Xxxxx & Associates, Co., LPA |
||||
By: | /s/ Xxxx X. Xxxxx | |||
Name Xxxx X. Xxxxx | ||||
Title: | Principal |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
11
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxxxx Xxxx | ||||
Xxxxxxx Xxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
12
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxx Xxxx Xxxxx | ||||
Xxxxx Xxxx Xxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
13
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxxxx Xxxxxxxxxx | ||||
Xxxxxxx Xxxxxxxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
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COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxx Xxxxx | ||||
Xxxx Xxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
15
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxxxxx X. Xxxxxxx | ||||
Xxxxxxxx X. Xxxxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
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COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxx Xxxxxxxx | ||||
Xxxx Xxxxxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
17
COUNTERPART SIGNATURE PAGE TO STOCKHOLDER VOTING AGREEMENT
/s/ Xxxxxx X. Xxxxx | ||||
Xxxxxx X. Xxxxx |
THE EXECUTION OF A COUNTERPART SIGNATURE PAGE SHALL BE FOR ALL PURPOSES TREATED
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
AS THE EXECUTION OF THE STOCKHOLDER VOTING AGREEMENT AND THE SIGNATORY SHALL
BE BOUND BY THE TERMS AND CONDITIONS THEREOF
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EXHIBIT A
Number of Shares Owned as of | ||||||
Name of Shareholder | Address of Shareholder | December 9, 2008 | ||||
Xxxxx & Associates Co., LPA |
0000 Xxxx 0xx Xx., Xxxxx 0000 | 425,000 | ||||
Xxxxxxxxx, XX 00000 | ||||||
Xxxx Xxxxx |
0000 Xxxxxxxxx Xxxx | 0,000,000 | ||||
Xxxxxxxxx Xxx., XX 00000 | ||||||
Xxxx Xxxx Xxxxx |
0000 Xxxxxxxxx Xxxx | 0,000,000 | ||||
Xxxxxxxxx Xxx., XX 00000 | ||||||
The
Xxx Xxxxx Educational Trust |
0000 Xxxxxxxxx Xxxx | 0,000,000 | ||||
Xxxxxxxxx Xxx., XX 00000 | ||||||
Xxxxxx X. Xxxxxxx |
0000 Xxxxxxxx Xxxx | 0,000,000 | ||||
Xxxxxx Xxx., XX 00000 | ||||||
Xxxxxxx Xxxx |
0000 Xxxxxxxxx Xxxx. | 000,000 | ||||
Xxxxxxxxx Xxx, Xxxx 00000 | ||||||
Xxxxx Xxxx Xxxxx |
0000 Xxxxxxxxx Xxxx. | 0,000,000 | ||||
Xxxxxxxxx Xxx, Xxxx 00000 | ||||||
Xxxxxxx Xxxxxxxxxx |
00000 Xxxxxx Xxxx.., Xxx. 000 | 0,000,000 | ||||
Xxxxxx Xxx, XX 00000 | ||||||
Xxxx Xxxxx |
00000 Xxxxx Xx., Xxx. 0 | 000,000 | ||||
Xxxxxxxxx Xxx, Xx 00000 | ||||||
Xxxxxxxx X. Xxxxxxx |
0000 Xxxxx Xxxxxxxxx Xxxxx | 000,000 | ||||
Xxxxx, XX 00000 | ||||||
Xxxx Xxxxxxxx |
000 00xx Xx., XX, #0000 | 6,344,700 | ||||
Xxxxxxx, XX 00000 | ||||||
Xxxxxx X. Xxxxx |
000 Xxxxx Xxxx | 10,461,133 | ||||
Xxxxxxxx, XX 00000 |
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EXHIBIT B
PROXY
The undersigned appoints Xxxx X. Xxxxx, as proxy, with the power to appoint his substitute,
and authorizes him to represent the undersigned and to vote the undersigned shares of Common
Stock, par value $0.001 per share (the “Stock”) of Spongetech Delivery Systems, Inc., a Delaware
corporation (the “COMPANY”), on all matters submitted to the stockholders of the Company in such
manner as the proxy agent wishes, at the proxy agent’s sole discretion, that may come before the
stockholders on or prior to December 31, 2009.
This proxy revokes all proxies previously given by the undersigned to vote on behalf of the
undersigned. This proxy may be revoked at any time by delivery of written notice of revocation
signed by the undersigned to the proxy agent appointed in this proxy or to the Corporation.
DATE:
[Signature]
If signing on behalf of an entity, list the name of the entity, the name of the signatory and the
title of the signatory
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