EXHIBIT 2.4
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ASSET PURCHASE AGREEMENT
THIS AGREEMENT made this 12th day of April 2004 by and between Xxxx Xxxxx
located at 0000 Xxxxx Xxxxx Xxxx, Xxxxxxx, XX, and ZAP located at 000 0xx
Xxxxxx, Xxxxx Xxxx, Xxxxxxxxxx.
In consideration of the mutual covenants
contained herein, it is agreed by and between the parties as follows:
1a. ZAP
shall pay Xxxx Xxxxx a sum of 250 Class A II preferred shares (equivalent to
500,000 common shares of ZAPZ stock) and 500,000 B-2 Warrants for the 2003
Mercedes Benz, the 1997 Bentley, and the 2004 Porsche Cayenne S. The total
purchase price for the three automobiles will be $250,000.
1b. It is understood
that the underlying stock is restricted under Rule 144 guidelines.
The actions to be taken by the parties hereto to close the transaction as
provided shall take place on or before April 12, 2004 at the office of ZAP at
000 Xxxxxx Xxxxxx, Xxxxx Xxxx, XX 00000 hereinafter referred to as the ("Closing
Date").
This Agreement shall be governed in all respects by the laws of the
State of California.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals, the date
and place first above written.
Dated: April 12, 2004
/s/ Xxxx Xxxxx /s/ Xxxxx Xxxxxxxxx
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Xxxx Xxxxx Xxxxx Xxxxxxxxx for ZAP
