RSTOCK PURCHASE AGREEMENT
THIS STOCK PURCHASE AGREEMENT
(this "Agreement") is made effective on , 2008 by and between Zhong Sen
International Tea Company, a Florida corporation, (the "Company") and
_____________________________________ (the “Purchaser”).
WHEREAS, the Purchaser desires
to purchase certain shares of the Company's Common Stock on the terms and
conditions set forth herein; and
WHEREAS, the Company desires to issue
and sell shares of the Common Stock to the Purchaser on the terms and conditions
set forth herein.
NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual promises hereinafter set
forth, and, other good and valuable consideration, the parties hereto agree as
follows:
1.1 Authorization On the
Closing (as defined in Section 2.1 below), the Company shall authorize the
issuance and shall issue _____________________________(____________) shares of
Common Stock (the “Shares”) par value $0.001 per share to the Purchaser at a
purchase price of __________________ ($___________) per Share for an aggregate
value of $_______________________ (the "Purchase Price").
2. Closing
3. Representations and Warranties of the
Company The Company hereby represents and warrants to the
Purchaser as of the Closing date as follows:
3.1 Organization and Standing:
Articles and Bylaws The Company is and will be a corporation duly
organized, validly existing, and in good standing under the laws of the State of
Florida and will have all requisite corporate power and authority to carry on
its business as proposed to be conducted.
3.3 Capitalization The
authorized capital stock of the Company is 100,000,000 shares of Common Stock,
par value $0.001 per share, of which, _________________ are issued and
outstanding. All such issued and outstanding shares have been duly authorized
and validly issued, are fully paid and non-assessable.
(a) Corporate
Action All corporate action on the part of the Company necessary for
the authorization, execution and delivery of this Agreement, the sale and
issuance of the Shares and the performance of the Company's obligations
hereunder will be taken prior to the Closing. This Agreement constitutes a valid
and legally binding obligation of the Company, enforceable in accordance with
its terms.
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4. Representations and Warranties
of Purchaser and Restrictions
on Transfer Imposed by the Securities Act.
(a) Investment
Intent This Agreement is made with the Purchaser in reliance
upon the Purchaser's representations to the Company, evidenced by the
Purchaser's execution of this Agreement, that the Purchaser is acquiring the
Shares for investment for the Purchaser's own account, not as nominee or agent,
and not with a view to or for resale in connection with, any distribution or
public offering thereof within the meaning of the Securities Act and applicable
law. The Purchaser has the full right, power, and authority to enter into and
perform this Agreement.
(c) No
Transfer Except as set forth in Section 4.4 hereunder, the
Purchaser covenants that in no event will the Purchaser dispose of any of the
Shares (other than in conjunction with an effective registration statement for
the Shares under the Securities Act in compliance with Rule 144 promulgated
under the Securities Act) unless and until (i) the Purchaser shall have notified
the Company of the proposed disposition and shall have furnished the Company
with a statement of the circumstances surrounding the proposed disposition, and
(ii) if reasonably requested by the Company, the Purchaser shall have furnished
the Company with an opinion of counsel satisfactory in form and substance to the
Company to the effect that (x) such disposition will not require registration
under the Securities Act, and (y) appropriate action necessary for compliance
with the Securities Act and any other applicable state, local, or foreign law
has been taken, and (iii) the Company has consented, which consent shall not be
unreasonably withheld.
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4.3 Rule
144. The Purchaser is aware of the adoption of Rule 144 by the
SEC promulgated under the Securities Act, which permits limited public resale of
securities acquired in a nonpublic offering, subject to the satisfaction of
certain conditions. The Purchaser understands that under Rule 144, the
conditions include, among other things: the availability of certain, current
public information about the issuer and the resale occurring not less than six
months after the party has purchased and paid for the securities to be
sold.
(a) Representations and
Warranties Correct: Performance of Obligations The representations and
warranties made by the Company in Section 3 hereof shall be true and correct
when made and at the Closing. The Company's business and assets shall not have
been adversely affected in any material way prior to the Closing. The
Company shall have
performed in all material respects all obligations and conditions herein
required to be performed or observed by it on or prior to the
Closing.
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6. Affirmative
Covenants of the Company The Company hereby covenants and agrees as
follows:
The
Purchaser is not entitled to any registration rights under this Agreement or
associated with the purchase of the Shares. The purchase shall be subject to
such private restrictions on the transfer of the Shares as are designated from
time to time by the Company or its investment bankers or
underwriters.
8. Risk
Factors
The
securities offered hereby are speculative in nature and involve a high degree of
risk. They should be purchased only by persons who can afford to lose their
entire investment in the company, therefore, each prospective investor should,
prior to purchase, consider very carefully the following risk
factors:
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For all of the reasons stated in the
risk factors and others, including, without limitation, those set forth herein,
these shares involve a high degree of risk. Any person considering an investment
in the securities offered should be aware of these factors. These securities
should only be purchased by persons who can afford a total loss of their
investment in the company and have no immediate need for a return of or on their
investment.
9.1 Governing Law This
Agreement shall be governed in all respects by the laws of the State of Florida
as such laws are applied to agreements between residents entered into and to be
performed entirely within Florida.
9.2 Survival The
representations, warranties, covenants and agreements made herein shall survive
the Closing of the transactions contemplated hereby, notwithstanding any
investigation made by the Purchaser. All statements as to factual matters
contained in any certificate or other instrument delivered by or on behalf of
the Company pursuant hereto or in connection with the transactions contemplated
hereby shall be deemed to be representations and warranties by the Company
hereunder as of the date of such certificate or instrument.
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(a) The
Company (i) represents and warrants that it has retained no finder or broker in
connection with the transactions contemplated by this Agreement, and (ii) hereby
agrees to indemnify and to hold Purchaser harmless from and against any
liability for commission or compensation in the nature of a finder's fee to any
broker or other person or firm (and the costs and expenses of defending against
such liability or asserted liability) for which the Company, or any of its
employees or representatives, is responsible.
(b) The
Purchaser (i) represents and warrants that the Purchaser has retained no finder
or broker in connection with the transactions contemplated by this Agreement,
and (ii) hereby agrees to indemnify and to hold the Company harmless from and
against any liability for any commission or compensation in the nature of a
finder's fee to any broker or other person or firm (and the costs and expenses
of defending against such liability or asserted liability) for which such
Purchaser is responsible.
9.8 Expenses The Company
and the Purchaser shall each bear their own expenses and legal fees in
connection with the consummation of this transaction.
9-10 Counterparts This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall constitute one
instrument.
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IN WITNESS WHEREOF, the
parties hereto have executed this Agreement this _____Day of__________, 2008
..
COMPANY:
PURCHASER:
____________________________
By:
Xxxxx X.
Xxxxxx By:
President/CEO
0000
Xxxxxxx Xxxxxx
Xxxxxxxxx, XX
00000 SSN: