STOCK PURCHASE AGREEMENT
Exhibit
10.34
This
Stock Purchase Agreement (the “Agreement”) is made as of this __th day of
January, 2008 by and among ______________,
an individual residing at ____________(the “Buyer”) and Accountabilities, Inc.,
a Delaware corporation (the “Company”) with offices located at 000 Xxxxx 0
Xxxxx, Xxxxx 000, Xxxxxxxxx, Xxx Xxxxxx 00000.
WHEREAS,
the Buyer wish to buy and the Company wishes to sell _____ shares of the
Company’s Common Stock and a warrant to acquire _____ shares of Common Stock at
a exercise price of $0.50 per share in the form of Exhibit A hereto (the
“Warrant”);
NOW,
THEREFORE, in consideration of the mutual promises and covenants contained in
this Agreement, and for other valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties hereto agree as
follows:
1.
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Purchase of
Shares . The Company hereby sells to the Buyer, and
the Buyer hereby purchases from the Company, _______ shares of the
Company’s Common Stock (the “Shares”) and the Warrant for an aggregate
purchase price (the “Purchase Price”) of ___________ DOLLARS
($__________)
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2.
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Representations of the
Company . The Company hereby represents and warrants
to the Buyer as follows:
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(a)
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The
Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of New
Jersey.
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(b)
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The
Shares represent approximately one tenth of one percent (0.1%) of the
Company’s outstanding Common Stock as of the date
hereof.
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(c)
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The
Company has the full corporate power and authority to enter into this
Agreement and to perform its obligations
hereunder.
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(d)
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The
Shares of Common Stock sold and issued to the Buyer pursuant to this
Agreement are duly authorized, validly issued and non-assessable and the
shares of Common Stock issuable upon the exercise of the Warrant ( the
“Warrant Shares”), when issued in accordance with the terms of the
Warrant, will be duly authorized, validly issued and
non-assessable.
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3.
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Representations of the
Buyer. The Buyer hereby represents and warrants to
the Company as follows:
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(a)
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The
Company has made available to the Buyer the opportunity to ask questions
of, and receive answers from, the officers of the Company concerning
the
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Company
and its business. The Buyer acknowledges that he/she has purchased
the Shares and Warrant without being furnished any prospectus.
(b)
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The
Shares and Warrant have been acquired for investment and not with a view
to the resale or distribution of such securities or the Warrant Shares
. Such Shares and Warrant are being acquired, and
any Warrant Shares will be acquired, by the Buyer for his/her own account
and with his/her own funds, and no other person shall have a direct or
indirect beneficial interest in such
securities.
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(c)
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The
Buyer has adequate net worth to bear the risks of this investment and has
adequate means of providing for his/her current needs and foreseeable
personal contingencies, have no need for liquidity in this investment, and
anticipates no need now or in the foreseeable future to sell the Shares,
the Warrant or the Warrant
Shares.
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(d)
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The
Buyer understands that the Company engages in a highly competitive
business and there can be no assurance that it will be able to operate
profitably. This investment is highly speculative investment and involves
a high degree of risk and is not recommended for any investor who cannot
afford the risk of losing his/her entire
investment.
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(e)
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The
Buyer understands that none of the Shares, the Warrant or the Warrant
Shares have been registered under the Securities Act of 1933, as amended
(the “Securities Act”), in reliance on an exemption for private
offerings. Because the Company has no obligation to effect such
registration, the Buyer may have to continue to bear the economic risk of
their ownership of such securities for an indefinite period; and Buyer
will not be permitted to transfer any of such securities in the absence of
an opinion of counsel, if requested, satisfactory to the Company that
registration is not required under the Securities Act and under applicable
state securities laws.
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(f)
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The
Buyer is an “Accredited Investors” as such term is defined in Rule 501
promulgated under the Securities Act, and has such knowledge and
experience in financial and business matters that he/she is capable of
evaluating the merits and risks of the transaction contemplated
hereby.
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(g)
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The
Buyer has been advised by the Company to consult with his/her own personal
tax advisor to determine the effect of an investment in the Company on
his/her Federal and state income tax
status.
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4.
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Governing
Law. This Agreement and its validity, construction
and performance shall be governed in all respects by the laws of the State
of Delaware, without giving effect to principles of conflict of
laws.
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5.
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Severability. If
any provisions of this Agreement or the application of any provision
hereof to any person or circumstance is held invalid, the remainder of
this Agreement and the application of such provision to other persons or
circumstances shall not be
affected
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unless
the provision held invalid shall substantially impair the benefits of the
remaining portions of this Agreement.
6.
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Benefit of Parties,
Assignment. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective personal
representatives, heirs, successors and assigns. This Agreement
may not be assigned by any party hereto except with the prior written
consent of the other party
hereto.
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7.
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Headings. The
headings in the sections of this Agreement are inserted for convenience of
reference only and shall not constitute a part
hereof.
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8.
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Construction. As
used in this Agreement, words in the singular shall be construed as
including the plural and vice versa and words in one gender shall include
all genders unless the context shall clearly require
otherwise.
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9.
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Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall
be an original, but all of which together shall constitute one and the
same instrument.
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IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be executed
as of the day and year first above written.
ACCOUNTABILITIES, INC. | BUYER | |||
/s/
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/s/
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Name:
Xxxxxxx XxxXxxxxxx
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Name:
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Title:
Chief Financial Officer
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Social
Security Number:
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