EXHIBIT 10.1

 

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SHARE PURCHASE AGREEMENT

 

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dated September 28, 2012

regarding the
sale and purchase of
all shares held by ZZH Verwaltungsgesellschaft mbH in

ZygoLOT GmbH

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Table of Contents

 

 

 

1.

Certain Defined Terms and Abbreviations

4

2.

Current Status / Shareholders’ Resolution

5

3.

Sale and Purchase of the Sale Share; Effective Date

5

4.

Purchase Price

6

5.

Closing

6

6.

Representations of Seller and Purchaser

6

7.

Remedies

7

8.

Statute of Limitation

7

9.

Taxes

7

10.

Settlement

7

11.

Notices

8

12.

Costs

8

13.

Miscellaneous

9

2

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Certain Defined Terms and Abbreviations

 

 

2012 Profit Claim

6

Affiliates

4

Agreement

4

AktG

4

Breach

7

Closing Date

6

Company

4

Effective Date

6

Equity Interests

5

Legacy Claims

8

Legal Entity

5

Parties

4

Party

4

Purchase Price

6

Purchaser

4

Sale Share

5

Seller

4

Seller Claims

5

Tax Liabilities

5

3

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SHARE PURCHASE AGREEMENT

by and between

 

 

1.

ZZH Verwaltungsgesellschaft mbH, a limited liability company (GmbH) under German
law, having its business address at Im Tiefen See 58, 64293 Darmstadt, and being
registered with the Local Court of Darmstadt under HRB 85872

 

 

 

- “Seller” -

 

 

2.

Zygo Germany GmbH, a limited liability company (GmbH) under German law, having
its business address at Bleichstr. 2, 64283 Darmstadt, and being registered with
the Local Court of Darmstadt under HRB 85555

 

 

 

- “Purchaser” -

 

 

 

- Seller and Purchaser each a “Party” and collectively the “Parties” -

PREAMBLE

 

 

A.

Seller and Purchaser are the sole shareholders of ZygoLOT GmbH (“Company”).

 

 

B.

Seller intends to sell and assign its entire shareholding in the Company to
Purchaser and Purchaser intends to acquire such shareholding. On the date
hereof, the Parties have passed the shareholders’ resolution attached as Exhibit
B for information purposes.

NOW, THEREFORE, the Parties agree as follows:

 

 

1.

Certain Defined Terms and Abbreviations

 

 

 

In this agreement (the “Agreement”), except where set forth otherwise, the
following terms and abbreviations shall have the following meanings:

 

 

 

“Affiliates”: any individual persons or Legal Entities who or which are
affiliated enterprises (verbundene Unternehmen) within the meaning of Section 15
AktG.

 

 

 

“AktG”: the German Stock Corporation Act (Aktiengesetz).

 

 

 

“Equity Interests”: any shares, partnership interests or other equity interests
or voting rights in any Legal Entity.

4

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“Legal Entity”: any corporation, company, partnership, association or other
legal entity whether having separate legal personality or not established
pursuant to the laws of any jurisdiction.

 

 

 

“Tax Liabilities”: any and all liabilities relating to all direct, indirect and
other taxes, duties, withholdings, import duties, levies and social security or
other similar contributions imposed by any regional, national or other authority
or body, and all related charges, interest, penalties, fines and expenses as
well as all social security contributions, without limitation, any taxes, levies
and duties pursuant to Section 3 of the German Tax Code (Abgabenordnung - AO).

 

 

 

“Seller Claims”: any and all claims, known or unknown, which Seller may have
against the Company, except for the 2012 Profit Claim.

 

 

2.

Current Status / Shareholders’ Resolution

 

 

2.1

The Company. The Company is a limited liability company (GmbH) under German law,
having its business address at Im Tiefen See 58, 64293 Darmstadt, and being
registered with the commercial register at the Local Court (Amtsgericht) of
Darmstadt under HRB 7622.

 

 

2.2

Sale Share. Seller holds one share in the nominal amount of EUR 20,000 (in
words: Euro twenty-thousand) in the Company (such shareholding and any
shareholding Seller may hold in the Company the “Sale Share”). Purchaser holds
one share in the nominal amount of EUR 30,000 (in words: Euro thirty-thousand)
in the Company.

 

 

2.3

Subsidiaries. The Company does not hold, directly or indirectly, any Equity
Interests in another Legal Entity.

 

 

2.4

Shareholder Resolution. Seller and Purchaser passed the shareholders’ resolution
attached for information purposes as Exhibit 2.4 (i) hereto approving of the
sale and transfer of the Sale Share by Seller to Purchaser in accordance with
Section 14 of the Articles of Association. The declaration of the Company
consenting to the sale and transfer of the Sale Share in accordance with Section
14 of the Articles of Association is attached as Exhibit 2.4 (ii) hereto for
information purpose.

 

 

3.

Sale and Purchase of the Sale Share; Effective Date

 

 

3.1

Sale and Transfer of the Sale Share. Seller hereby sells (verkauft) and, subject
to the condition precedent (aufschiebende Bedingung) of the payment of the
Purchase Price (as defined in Section 4.1 below), hereby transfers (tritt ab)
the Sale Share and any and all Seller Claims to Purchaser. Purchaser hereby
accepts this sale and transfer.

5

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3.2

Ancillary Rights. Except for the profits of the Company generated during the
fiscal year 2012 (the “2012 Profit Claim”), the sale and transfer of the Sale
Share shall include all ancillary rights appertaining thereto (Nebenrechte).

 

 

3.3

Effective Date. The sale of the Sale Share shall be made with commercial effect
(wirtschaftlicher Wirkung) as of July 1, 2012 0:00 hours (the “Effective Date”).

 

 

4.

Purchase Price

 

 

4.1

Purchase Price. The purchase price for the Sale Share (the “Purchase Price”)
shall be a fixed amount of EUR 2,500,000 (in words: Euro two million five
hundred thousand).

 

 

4.2

Payment of the Purchase Price. On the Closing Date (as defined in Section 5.1),
Purchaser shall pay the amount of the Purchase Price into the following bank
account of Seller:

 

 

 

 

Account holder:

ZZH Verwaltungsgesellschaft mbH

 

 

 

 

Bank:

Commerzbank

 

 

 

 

Bank code:

50880050

 

 

 

 

Account no.:

[…*…]

 

 

4.3

Modes of Payment. Any payments under this Agreement shall be made by wire
transfer in immediately available funds, value as of the relevant due date set
out in this Agreement or as otherwise provided by law, free of bank and other
charges.

 

 

5.

Closing

 

 

5.1

Closing. On September 28, 2012 (the “Closing Date”), Purchaser shall pay to
Seller the Purchase Price in accordance with Section 4 above.

 

 

5.2

Confirmation of Closing. Upon receipt of the Purchase Price by Seller, Seller
and Purchaser shall execute a joint written confirmation that the Closing has
occurred, and such confirmation shall be provided to the acting notary in
writing or by facsimile or PDF copy without undue delay.

 

 

6.

Representations of Seller and Purchaser

 

 

 

Seller represents and warrants in the form of an independent undertaking
(selbständiges Garantieversprechen) within the meaning of Section 311 (1) of the
German Civil Code (Bürgerliches Gesetzbuch - BGB) to Purchaser as of the date
hereof and as of the Closing Date:

* CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS. THE OMITTED INFORMATION HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

6

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-

The Sale Share has been validly issued in compliance with applicable law. Seller
holds full and unrestricted legal and benefical title (uneingeschränkte
rechtliche und wirtschaftliche Inhaberschaft) to the Sale Share.

 

 

 

 

-

The Sale Share has been fully paid up; all contributions with respect to the
Sale Share have been made in compliance with applicable law and no repayments of
the stated capital have been made to Seller.

 

 

 

 

-

The Sale Share is not encumbered by any third party rights.

 

 

 

 

-

There are no silent partnerships or sub-participations with regard to the Sale
Share.

 

 

 

7.

Remedies

 

 

 

 

If, and to the extent that, representations and warranties of the Seller are
untrue (the “Breach”), the Seller shall put the Purchaser in a position as if
such representations and warranties had been correct.

 

 

 

8.

Time Limit for Making a Claim

 

 

 

 

Claims of the Purchaser resulting from a Breach, and/or any tax indemnity claims
under section 9, “Taxes”, below shall be made in writing by the Purchaser to the
Seller before January 1, 2014.

 

 

 

9.

Taxes

 

 

 

9.1

Tax Indemnity. Seller shall indemnify and hold harmless Purchaser, or, at
Purchaser’s election, the Company, from and against 40% of any Tax Liabilities
greater than EUR 10,000, relating to any periods ending on or before the
Effective Date, by paying an amount equal to such Tax Liabilities to Purchaser,
or at Purchaser’s election, to the Company, if and to the extent the relevant
taxes have not been fully paid on or prior to the Effective Date.

 

 

 

9.2

Defense. Purchaser shall inform Seller about all relevant measures of tax
authorities (tax audits, tax assessments and comparable measures) relating to
taxes for which Seller may be liable under Section 9.1, and the Parties shall
discuss the matter with the intent to reach a mutually beneficial resolution of
any issues. Seller shall be entitled to participate at its own expenses in
proceedings relating to such taxes.

 

 

 

9.3

Time Limitation. Any claims of Purchaser pursuant to Section 9.1 shall be made
within 6 (six) months after the final and binding assessment of the relevant
tax.

 

 

 

9.4

Seller Tax Liability. Seller shall be responsible for its own Tax Liability from
any gains it realized from this transaction.

7

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10.

Settlement

 

 

 

10.1

Subject to Section 10.2, the Parties hereby

 

 

 

 

(i)

agree that this Agreement constitutes the conclusive and final settlement of any
and all mutual claims, known and unknown, which may exist on the basis of the
relationship between the Parties as shareholders of the Company (“Legacy
Claims”) and, by way of precaution,

 

 

 

 

(ii)

agree to waive any and all Legacy Claims.

 

 

 

10.2

The settlement and waiver in Section 10.1 above shall not affect any claims
between the Parties under this Share Purchase Agreement.

 

 

 

10.3

Zygo Corporation and L.O.T.-Oriel Holding AG have entered into the settlement
and waiver agreement attached as Exhibit 10.3 hereto for information purpose.

 

 

 

11.

Notices

 

 

 

 

All notices and other communications hereunder shall be made in writing and
shall be sent by registered mail or courier to the following addresses:

 

 

 

 

If to Purchaser, to:

 

 

 

 

 

Zygo Germany GmbH
Attn.: John A. Tomich
c/o Zygo Corporation
Laurel Brook Road
Middlefield, CT 06455
USA
with a copy to:

 

 

 

 

 

Baker & McKenzie
Attn. Dr. Thomas Gilles
Bethmannstrasse 50.54
60311 Frankfurt am Main
Germany
Fax No. +49-69-299 08 108

8

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If to Seller, to:

 

 

 

 

 

ZZH Verwaltungsgesellschaft mbH

 

 

 

 

 

Attn. Klaus Hilger
Im Tiefen See 58
64293 Darmstadt

 

 

 

 

or to such other recipients or addresses which may be specified by any Party to
the other Parties in the future in writing.

 

 

 

12.

Costs

 

 

 

 

All costs, including fees, expenses and charges, incurred in connection with the
preparation, negotiation, execution and consummation of this Agreement or the
transactions contemplated herein, including, without limitation, the fees and
expenses of professional advisers, shall be borne by the Party having
commissioned such costs. The fees for the notarial recording of this Agreement
shall be borne by the Purchaser.

 

 

13.

Miscellaneous

 

 

13.1

Exhibits. All Exhibits to this Agreement are attached for information purposes.

 

 

13.2

Entire Agreement. This Agreement shall comprise the entire agreement between the
Parties concerning the subject matter hereof and shall supersede and replace all
prior oral and written declarations of intention made by the Parties in respect
thereof.

 

 

13.3

Amendments. Any amendments to this Agreement (including amendments to this
Section 13.3) are valid only if made in writing, unless another form is required
by mandatory law.

 

 

13.4

German Terms. Where a German term has been inserted in quotation marks and/or
italics, such term alone (and not the English term to which it relates) shall be
authoritative for the interpretation of the respective provision.

 

 

13.5

Assignment. Without the written consent of the other Parties, no Party shall be
entitled to assign any rights or claims under this Agreement. Seller hereby
consents to the assignment by Purchaser of its rights under this Agreement to
any of Purchaser’s Affiliate.

 

 

13.6

Governing Law. This Agreement shall be governed by, and be construed in
accordance with, the laws of the Federal Republic of Germany, without regard to
principles of conflicts of laws.

9

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13.7

Jurisdiction. To the extent legally permissible, the Regional Court
(Landgericht) Frankfurt am Main shall have exclusive jurisdiction regarding all
disputes arising under or in connection with this Agreement or its validity.

 

 

13.8

Partial Invalidity. In the event that one or more provisions of this Agreement
shall, or shall be deemed to, be invalid or unenforceable, the validity and
enforceability of the other provisions of this Agreement shall not be affected
thereby. In such case, the Parties agree to recognize and give effect to such
valid and enforceable provision or provisions which correspond as closely as
possible with the commercial intent of the Parties. The same shall apply in the
event that this Agreement contains any gaps (Vertragslücken).

10

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Exhibit B

Gesellschafterbeschluss

Shareholder’s Resolution

Die Zygo Germany GmbH, Darmstadt und die ZZH Verwaltungsgesellschaft mbH,
Darmstadt treten in eine Gesellschafterversammlung ein und beschließen:

Zygo Germany GmbH, Darmstadt and ZZH Verwaltungsgesellschaft mbH, Darmstadt come
together in a shareholder’s meeting and resolve:
1.
Der Jahresabschluss zum 30.6.2012 mit einer Bilanzsumme von EUR 5.881.806,60 und
einem Jahresübersschuss von EUR 2.127.047,36 wird festgestellt in der Form des
Prüfungsberichtes des Abschlussprüfers Josef Stimpfle, Gerlingen vom 27.7.2012.

The annual financial statement as of June 30th 2012 with a balance sheet total
of EUR 5.881.806,60 and a net earnings of EUR 2.127.047,36 is approved as
reported by the auditor Josef Stimpfle, Gerlingen as of July 27th 2012.
2.
Der Bilanzgewinn in Höhe von EUR 2.127.174,80 wird am 28.9.2012 ausgezahlt. Die
einzubehaltende Kapitalertragsteuer und Solidaritätszuschlag reduzieren die
Auszahlungsbeträge.

The retained earnings in the amount of EUR 2.127.174,80 will be paid as a
dividend on September 28th 2012. The payments will be reduced by the capital
gain tax and solidarity tax.

3.
Dem Geschäftsführer Arno Köhler wird für das Geschäftsjahr 2011/2012 Entlastung
erteilt.

Geschäftsführer Arno Köhler is released from his duties of the fiscal year
2011/2012.

4.
Zum Abschlussprüfer für das Geschäftsjahr 2012/2013 wird Herr Josef Stimpfle,
Gerlingen gewählt.

It is resolved that the auditor for the fiscal year 2012/2013 will remain Mr.
Josef Stimpfle, Gerlingen.

Darmstadt 28.9.2012

 

 

 

 

/s/ John A. Tomich

 

/s/ Arno Köhler

 

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Zygo Germany GmbH

ZZH Verwaltungsgesellschaft mbH

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Exhibit 2.4 (i)

Written Shareholders Resolution

The undersigned

ZZH Verwaltungsgesellschaft mbH,

registered in the commercial register with the
Local Court Darmstadt under HRB 85872

and

Zygo Germany GmbH,

registered in the commercial register with the
Local Court Darmstadt under HRB 85555

(the “Shareholders”)

in their capacity as sole shareholders of

ZygoLOT GmbH

registered in the commercial register with the
Local Court Darmstadt under HRB

(the “Company”)

waiving the fulfilment of all requirements provided for by law or the articles
of association as to call and notice, hereby pass the following shareholders’
resolution:

 

 

 

The sale and transfer of the share held in the Company by ZZH
Verwaltungsgesellschaft mbH to Zygo Germany GmbH is hereby approved.

 

 

 

The managing director of the Company is hereby instructed to issue a declaration
of consent to such share sale and transfer.

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ZZH Verwaltungsgesellschaft mbH

 

 

 

place, date:

Frankfurt 28,9.12

 

 

signature:

/s/ Klaus Hilger

 

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name:

Klaus Hilger

 

 

in his capacity as

Managing Director

 

 

Zygo Germany GmbH

 

 

 

place, date:

Middlefield Connecticut, USA
September 27, 2012

 

 

signature:

/s/ John A. Tomich

 

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name:

John A. Tomich

 

 

in his capacity as

Geschäftsführer/Managing Director

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Exhibit 2.4 (ii)

Declaration of Consent

 

 

1.

ZZH Verwaltungsgesellschaft mbH, Darmstadt and Zygo Germany GmbH, Darmstadt are
the sole shareholders of ZygoLOT GmbH, Darmstadt (“Company”).

 

 

2.

ZZH Verwaltungsgesellschaft mbH intends to sell and transfer its entire
shareholding in the Company to Zygo Germany GmbH, Darmstadt.

 

 

3.

The Company hereby issues its consent to such contemplated sale and transfer of
shares in the Company in accordance with Section 14 of the Articles of
Association of the Company.

 

Date: 28.9.2012

 

Place: Darmstadt

 

/s/ Arno Köhler

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Arno Köhler

 

Managing Director of ZygoLOT GmbH

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Exhibit 10.3

General Settlement Agreement

by and between

L.O.T.-Oriel Holding AG, Im Tiefen See 58, 64293 Darmstadt, Germany

- “L.O.T. ” -

and

Zygo Corporation, a Delaware corporation, Laurel Brook Road, Middlefield,
Conneticut 06455-0448, USA

- “Zygo” -

(together the “Parties” and individually a “Party”)

WHEREAS, on October 2, 1999, L.O.T. and Zygo entered into a certain Joint
Venture Agreement (“JV Agreement”) relating to ZygoLOT GmbH, Darmstadt (the
“Company”);

WHEREAS, ZZH Verwaltungsgesellschaft mbH (hereafter “ZZH”) is the successor to
L.O.T. in ownership of the Company;

WHEREAS, Zygo Germany GmbH (hereafter “Zygo Germany”) is the successor to Zygo
in ownership of the Company;

WHEREAS, on the date hereof, ZZH and Zygo Germany are the sole shareholders the
Company;

and,

WHEREAS, in connection with the contemplated sale and transfer of the shares
currently held by ZZH in the Company to Zygo Germany under a certain share sale
and transfer agreement (“SPA”), the Parties wish to clarify and agree that they
do not have any claims, known and unknown, relating to the JV Agreement or the
Company, provided that any claims of L.O.T. against the Company and any claims
of the Company against L.O.T. under the Service Agreement shall remain
unaffected.

NOW THEREFORE, the parties hereto agree as follows:

 

 

1.

Termination of JV Agreement / No claims

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The Parties hereby confirm (i) that the JV Agreement is terminated and (ii) that
none of the Parties is entitled to any claims against the respective other Party
or the Company in connection with or relating to the JV Agreement.

 

 

2.

Assignment of claims

 

 

 

Should L.O.T., on behalf of itself or any affiliated company, despite the
confirmation in Section 1 above, be entitled to any claim against the Company,
L.O.T. hereby assigns such claim to Zygo, subject to the condition precedent and
in consideration of the payment of the purchase price by Zygo Germany under the
SPA.

 

 

3.

General settlement

 

 

 

Subject to the condition precedent of the effectiveness of the assignment set
forth in Section 2 above and to the extent that such waiver can be legally
enforced, the Parties, on behalf of themselves and any affiliated companies,
hereby agree to waive all known and unknown claims against each other, which may
exist in connection with the JV Agreement.

 

 

4.

Miscellaneous

 

 

4.1

Entire Agreement. This Agreement shall comprise the entire agreement between the
Parties concerning the subject matter hereof and shall supersede and replace all
prior oral and written declarations of intention made by the Parties in respect
thereof.

 

 

4.2

Amendments. Any amendments to this Agreement (including amendments to this
Section 4.2) are valid only if made in writing, unless another form is required
by law.

 

 

4.3

Governing Law. This Agreement shall be governed by, and be construed in
accordance with, the laws of the Federal Republic of Germany, without regard to
principles of conflicts of laws.

 

 

4.4

Jurisdiction. To the extent legally permissible, the Regional Court
(Landgericht) Frankfurt am Main shall have exclusive jurisdiction regarding all
disputes arising under or in connection with this Agreement or its validity.

 

 

4.5

Partial Invalidity. In the event that one or more provisions of this Agreement
shall, or shall be deemed to, be invalid or unenforceable, the validity and
enforceability of the other provisions of this Agreement shall not be affected
thereby. In such case, the Parties agree to recognize and give effect to such
valid and enforceable provision or provisions which correspond as closely as
possible with the commercial intent of the Parties. The same shall apply in the
event that this Agreement contains any gaps (Vertragslücken).

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Place: Darmstadt

Date: 28. Sept. 2012

Name: Ralph Köhler, CEO

 

 

Signature: 

/s/ Ralph Köhler

 

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L.O.T.-Oriel Holding AG

Place: Middlefield, Connecticut, USA

Date: September 28, 2012

Name: John A. Tomich
           Vice President, General Counsel
           and Secretary

 

 

Signature: 

/s/ John A. Tomich

 

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Zygo Corporation

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