Exhibit 10.24
STOCK PURCHASE AGREEMENT
THIS STOCK PURCHASE AGREEMENT (the "Agreement"), made this 19th day of
June, 1998, is entered into by FurnitureSite, Inc., a Delaware corporation with
its principal place of business at 000 Xxxxxx Xxxxxx, Xxxxxxxxx, XX 00000-0000
(the "Purchaser"), and Xxxxxx Xxxxxxxxxx, residing at 0 Xxxxxxx Xxxx, Xxxxxxxxx,
XX 00000 (the "Seller").
1. The Seller hereby sells to the Purchaser and the Purchaser hereby
purchases from the Seller 7,500 shares (the "Shares") of common stock, no par
value, of Empire Furniture Warehouse, Inc., a Massachusetts corporation
("Empire"). The aggregate purchase price for the Shares shall be $250,000.
2. The Seller represents and warrants to the Purchaser that the Shares
represent all the outstanding shares of capital stock of Empire and that they
have been duly authorized, are validly issued and are fully paid and
non-assessable.
3. The Seller hereby acknowledges receipt of the purchase price for the
Shares and the Purchaser hereby acknowledges receipt of a certificate evidencing
the Shares.
4. The Seller agrees to indemnify and hold harmless the Purchaser from
and against all claims, damages, losses, liabilities, costs and expenses
(including reasonable attorneys' fees) incurred by the Purchaser resulting from
any breach of the representation and warranty made by the Seller in Section 2
above; PROVIDED that the aggregate liability for indemnification shall not
exceed $250,000. The indemnity provided in this Agreement shall be the sole and
exclusive legal remedy of the Purchaser for any breach of the representation and
warranty for any claim, liability or obligation arising out of this Agreement
and the acquisition of the Shares, whether in tort, contract or otherwise. The
representation, warranty and indemnity shall expire on the first anniversary of
the date of this Agreement.
IN WITNESS WHEREOF, this Agreement has been duly executed by the
parties hereto as of the date first written above.
SELLER FURNITURESITE, INC.
(PURCHASER)
/s/ Xxxxxx Xxxxxxxxxx By: /s/ Xxxxxx Xxxxxxxxxx
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Xxxxxx Xxxxxxxxxx Xxxxxx Xxxxxxxxxx,
President
