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EXHIBIT 10.2
STOCK PURCHASE AGREEMENT
Xxxxxxx X. Crosse, the registered owner of Stock Certificate # 105 for 23,437
shares issued by Let's Play Sports Inc. agrees to sell the stock to Let's Play
Sports Inc. at the issue price of $10.00 a share payable in monthly installments
of $5,000 beginning October, 1999. Monthly installments of $5,000 are payable in
one sum on the 15th of the month or in two installments of $2,500 payable on the
5th and 20th of each month at the option of Let's Play Sports Inc.
Each incremental sale of stock under Certificate #105 will be evidenced by an
executed Stock Assignment.
The terms of this agreement create an obligation to sell and an obligation to
purchase in accordance with the terms of this agreement.
In accordance with the terms of this agreement, each month a sale of 500 shares
takes place, and the seller will execute and deliver to purchaser a Stock
Assignment (Transfer Power). In the event that payment is not made within the
transaction period (Monthly - 30 days) it becomes a late installment payment
subject to interest or penalty.
This agreement provides for successors and assigns for both seller and
purchaser.
This agreement will remain in full force and effect until all of the shares of
Certificate #105 have been purchased and transferred.
Purchaser may at any time, without penalty, accelerate the installment purchase.
Seller Purchaser
/s/ Xxxxxxx X. Crosse /s/ Let's Play Sports, Inc.
Registered Owner X. Xxxxxxxxx, President
Date 10/22, 1999 Date 22 Oct, 1999
