11/04/2019 BOARD OF SELECTMEN Agenda Packet

Home Browse Search

STOCK PURCHASE AGREEMENT AGREEMENT made this atf day of 5e-f �6e-r ,2019, between Jenny Shum, an individual residing at -,ong Island City,NY 11101 (hereinafter referred to as the"Seller"), and Fan Yan Ren, an individual residing at ;. Falmouth MA 02536(hereinafter referred to as the "Buyer"), and Mashpee Oriental,Inc., a Massachusetts business corporation having its principal place of business at 3 Greene Street,Mashpee MA 02649 (hereinafter referred to as the"Corporation"). WITNESSETH WHEREAS Corporation is authorized to issue 120 shares of common stock(with no par share) (hereinafter referred to as the "Common Stock"). WHEREAS Corporation's total number of issued and outstanding shares of Common Stock is one.hundred twenty(120) shares. The Seller is the owner of record of twenty-five(25) shares of the Common Stock. WHEREAS, the Seller wishes to sell and the Buyer wishes to purchase from the Seller ten (10) shares of Common Stock on the terms and conditions specified herein. NOW, THEREFORE,the parties agree as follows: I. PURCHASE AND SALE OF STOCK 1.1 Purchased Stock. Upon the terms and conditions set forth herein,the Seller agrees to sell, assign,transfer and deliver to the Buyer, and the Buyer agrees to purchase from the Seller, all of Seller's right, title and interest in and to the Ten(10) shares of Common Stock(hereinafter referred to as the "Purchased Stock"). i 1.2. Purchase Price. The purchase price for the Purchased Assets (the "Purchase Price") is Thirty Thousand U.S.Dollars ($30,000.00)the entirety of which is to be paid in cash by the Buyer simultaneously with execution of this Agreement. 1.3 Instruments of Transfer. The Seller agrees that the sale, assignment, transfer and delivery of the Purchased Stock shall be effected by such instruments of transfer as shall be appropriate to carry out the intent of this Agreement and as shall be reasonably satisfactory to the Buyer and its counsel to vest in the Buyer the right,title and interest of the Seller in and to the Purchased Stock. Such transfer of instruments shall take place at the Closing which shall occur simultaneously with the execution of this Agreement. II. REPRESENTATIONS AND WARRANTIES OF THE SELLER The Seller represents and warrants to the Buyer as follows: 2.1 Title to Purchased Stock. The Seller is, and at closing shall be,the sole owner of the Purchased Stock and now has, and will have at closing,good and marketable title to the Purchased Stock, free and clear of any and all mortgages,pledges, liens, encumbrances or other restrictions.