PURCHASE AGREEMENT dated as of May 20, 2008, among SALTON, INC., APPLICA PET PRODUCTS LLC and SPECTRUM BRANDS, INC.Purchase Agreement • May 27th, 2008 • Salton Inc • Electric housewares & fans • New York
PURCHASE AGREEMENT dated as of May 20, 2008 (this “Agreement”), among Salton, Inc., a corporation organized under the laws of the State of Delaware (“Salton”), Applica Pet Products LLC (“Pet LLC” and, together with Salton, the “Purchaser”) and Spectrum Brands, Inc., a corporation organized under the laws of the State of Wisconsin (the “Seller”).
Harbinger Capital Partners Master Fund I, Ltd.Letter Agreement • May 27th, 2008 • Salton Inc • Electric housewares & fans • New York
This letter agreement (this “Letter Agreement”) sets forth the commitment of Harbinger Capital Partners Master Fund I, Ltd. (the “Fund”), subject to the terms and conditions contained herein, to (i) purchase shares of Series E Convertible Participating Preferred Stock (the “Series E Preferred Stock”) of Salton, Inc., a Delaware corporation (the “Purchaser”), having the rights set forth in a Certificate of Designation substantially in the form attached hereto as Exhibit A (the “Series E Certificate of Designation”) or, if a sufficient number of shares of common stock of the Purchaser (the “Common Stock”) have been authorized in compliance with the DGCL and other applicable law as of the Closing Date, purchase shares of Common Stock; (ii) contribute to the Purchaser an amount of outstanding 7 3/8% Senior Subordinated Notes due 2015 of Spectrum Brands, Inc., a Wisconsin corporation (“Spectrum Brands”), taking into account principal and accrued and unpaid interest thereon as of the close o
