Exhibit 10.1
GP STRATEGIES CORPORATION
SECURITIES PURCHASE AGREEMENT
December 30, 2009
TABLE OF CONTENTS
Page
1.
PURCHASE AND SALE OF COMMON STOCK
1
(A)
COMMON STOCK
1
(B)
CLOSING
1
(C)
PURCHASE PRICE
1
(D)
FORM OF PAYMENT
1
2.
INVESTOR'S REPRESENTATIONS AND WARRANTIES
2
(A)
ORGANIZATION; AUTHORITY
2
(B)
NO PUBLIC SALE OR DISTRIBUTION
2
(C)
ACCREDITED INVESTOR STATUS
2
(D)
RELIANCE ON EXEMPTIONS
2
(E)
INFORMATION
2
(F)
NO GOVERNMENTAL REVIEW
3
(G)
TRANSFER OR RESALE
3
(H)
LEGENDS
4
(I)
VALIDITY; ENFORCEMENT
4
(J)
NO CONFLICTS
4
(K)
RESIDENCY
4
3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
4
(A)
ORGANIZATION AND QUALIFICATION OF THE COMPANY AND ITS SIGNIFICANT SUBSIDIARIES
5
(B)
AUTHORIZATION; ENFORCEMENT; VALIDITY
5
(C)
ISSUANCE OF PURCHASED SHARES; NO RESTRICTIONS ON TRANSFER
5
(D)
NO CONFLICTS
5
(E)
CONSENTS
6
(F)
NO GENERAL SOLICITATION; PLACEMENT AGENT'S FEES
6
(G)
NO INTEGRATED OFFERING
6
(H)
APPLICATION OF TAKEOVER AND OTHER PROTECTIONS; RIGHTS AGREEMENT
7
(I)
SEC DOCUMENTS; FINANCIAL STATEMENTS
7
(J)
ACCURACY OF INFORMATION
8
(K)
ABSENCE OF CERTAIN CHANGES
8
(L)
NO UNDISCLOSED EVENTS, LIABILITIES, DEVELOPMENTS OR CIRCUMSTANCES
9
(M)
CONDUCT OF BUSINESS; REGULATORY PERMITS
9
(N)
FOREIGN CORRUPT PRACTICES AND/OR OTHER PAYMENTS
10
(O)
SARBANES-OXLEY ACT
10
(P)
TRANSACTIONS WITH AFFILIATES
11
(Q)
EQUITY CAPITALIZATION
11
(R)
INDEBTEDNESS AND OTHER CONTRACTS
12
(S)
ABSENCE OF LITIGATION
12
(T)
INSURANCE
12
i
(U)
EMPLOYEE RELATIONS
12
(V)
COMPANY BENEFIT PLANS
13
(W)
TITLE
14
(X)
INTELLECTUAL PROPERTY RIGHTS
14
(Y)
ENVIRONMENTAL LAWS
15
(Z)
SUBSIDIARIES
15
(AA)
TAX STATUS
16
(BB)
INTERNAL ACCOUNTING AND DISCLOSURE CONTROLS
16
(CC)
OFF BALANCE SHEET ARRANGEMENTS
17
(DD)
INVESTMENT COMPANY STATUS
17
(EE)
MANIPULATION OF PRICE
17
(FF)
SHELL COMPANY STATUS
17
4.
COVENANTS
17
(A)
FORM D AND BLUE SKY
17
(B)
REPORTING STATUS
18
(C)
USE OF PROCEEDS
18
(D)
FINANCIAL INFORMATION; ACCESS
18
(E)
LISTING
19
(F)
FEES
19
(G)
PLEDGE OF PURCHASED SHARES
19
(H)
INTEGRATION
20
(I)
DISCLOSURE OF TRANSACTIONS AND OTHER MATERIAL INFORMATION
20
(J)
ADDITIONAL REGISTRATION STATEMENTS
20
(K)
ACTIONS REGARDING ANTI-TAKEOVER AND OTHER PROTECTIONS; RIGHTS AMENDMENT
20
(L)
PREEMPTIVE RIGHTS - ADDITIONAL ISSUANCES OF PURCHASED SHARES
21
(M)
BOARD MATTERS
25
(N)
OBSERVER RIGHTS
27
(O)
STANDSTILL
28
(P)
LEGENDS
30
(Q)
TRANSFER TAXES
31
(R)
FORM W-9
31
(S)
NO SHORT SALES, ETC. IN VIOLATION OF THE 1933 ACT
31
5.
INVESTOR CLOSING DELIVERABLES
31
6.
COMPANY CLOSING DELIVERABLES
32
7.
TERMINATION
34
(A)
TERMINATION
34
(B)
EFFECTS OF TERMINATION
34
8.
MISCELLANEOUS
34
(A)
DEFINITIONS
34
(B)
GOVERNING LAW; JURISDICTION; JURY TRIAL
39
(C)
COUNTERPARTS
40
ii
(D)
HEADINGS
40
(E)
SEVERABILITY
40
(F)
ENTIRE AGREEMENT; AMENDMENTS
40
(G)
NOTICES
40
(H)
SUCCESSORS AND ASSIGNS
42
(I)
NO THIRD PARTY BENEFICIARIES
42
(J)
SURVIVAL
42
(K)
FURTHER ASSURANCES
42
(L)
NO STRICT CONSTRUCTION
42
(M)
REMEDIES
42
(N)
ACKNOWLEDGMENT REGARDING INVESTOR'S PURCHASED SHARES
43
EXHIBITS
Exhibit A
-
Form of Registration Rights Agreement
Exhibit B
-
Form of Investor Officer's Certificate
Exhibit C
-
Form of