Document:

exv10w1

 

Exhibit 10.1

STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT (this “Agreement”) is made and entered into by and between White
River Bancshares Company, a corporation organized pursuant to the laws of the State of Arkansas
(“Buyer”); and Home Bancshares, Inc., a corporation organized pursuant to the laws of the State of
Arkansas (“Seller”).

W-I-T-N-E-S-S-E-T-H

     For good and valuable consideration, Seller and Buyer agree as follows:

     1. Definitions. For all purposes of this Agreement, the following terms shall have
the following meanings:

     “Agreement” shall mean this Stock Purchase Agreement.

     “Bank” shall mean Signature Bank of Arkansas, a state bank organized pursuant to the laws of
the State of Arkansas.

     “Business Day” shall mean any day other than Saturday, Sunday or any other day when the Bank
is not open for business.

     “Buyer” shall mean White River Bancshares Company, a corporation organized pursuant to the
laws of the State of Arkansas.

     “Closing” shall mean the closing of the transactions contemplated by this Agreement.

     “Party” shall mean any one or more of Buyer and Seller.

     “Purchase Price” shall mean the amount of Nineteen Million Eight Hundred Sixty-one Thousand
Five Hundred Dollars ($19,861,500.00) which is the product of the number of the Seller Shares
multiplied by One Hundred Fifty Dollars ($150.00) per share.

     “Seller” shall mean Home Bancshares, Inc., a corporation organized pursuant to the laws of the
State of Arkansas.

     “Seller Shares” shall mean all of the issued and outstanding shares of capital stock of Buyer
held by Seller consisting of One Hundred Thirty-two Thousand Four Hundred Ten (132,410) shares of
common stock represented by certificate numbers CS015, CS432, and CS563.

     2. Purchase and Sale of Seller Shares.

     2.1. Basic Transaction. Subject to the provisions of this Agreement, Buyer agrees to
purchase from Seller, and Seller agree to sell to Buyer, all of the Seller Shares in exchange for
the Purchase Price.

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     2.2. Purchase Price. Buyer agrees to pay the Purchase Price to Seller at the Closing
by delivery of cash in the amount of Nineteen Million Eight Hundred Sixty-one Thousand Five Hundred
Dollars ($19,861,500.00) payable by wire transfer or delivery of other immediately available funds
to an account designated by Seller.

     2.3. Closing. The Closing shall take place within five (5) Business Days following
the satisfaction or waiver of all conditions to the obligations of Seller and Buyer to consummate
the transactions contemplated hereby (other than conditions with respect to actions the respective
Parties shall take at the Closing itself) or such other date as Buyer and Seller may mutually
determine but not later than March 1, 2008. At the Closing, (i) Seller shall deliver to Buyer
endorsed certificates, instruments, and other documents necessary to completely and irrevocably
transfer the Seller Shares to Buyer and to irrevocably release and waive any right to acquire
additional shares of stock in Buyer, and (ii) Buyer shall deliver to Seller the Purchase Price.

     3. Regulatory Approvals. Seller and Buyer acknowledge that the transactions
contemplated by this Agreement may require the prior approval of the Arkansas State Bank
Department, the Federal Deposit Insurance Corporation, and the Federal Reserve Board. Seller shall
prepare or cause to be prepared all such applications, notices, and other documents as may be
necessary for Seller to receive approval of such transactions by such regulatory authorities, and
Buyer shall prepare or cause to be prepared all such applications, notices, and other documents as
may be necessary for Buyer and Bank to receive approval of such transactions by such regulatory
authorities. In each case, no application, notice, or other document shall be submitted by Seller
or Buyer to any regulatory authority until approved by the other, such approval not to be
unreasonably withheld, delayed, or conditioned.

     4. Representations and Warranties Concerning Transaction.

     4.1. Seller’s Representations and Warranties. Seller represents and warrants to
Buyer that the statements contained in this Section 4.1 are correct and complete as of the date of
this Agreement and shall be correct and complete as of the Closing Date (as though made then).

     (a) Organization. Seller is duly organized, validly existing, and in good standing
under the laws of the State of Arkansas.

     (b) Authorization of Transaction. Seller has full power and authority to execute and
deliver this Agreement and to perform its obligations under this Agreement. This Agreement
constitutes the valid and legally binding obligation of Seller, enforceable in accordance with its
provisions. Seller need not give any notice to, make any filing with, or obtain any authorization,
consent, or approval of any government or governmental agency in order to consummate the transactions contemplated by this Agreement, except
as set forth in Section 3.

     (c) Non-contravention. Neither the execution and delivery of this Agreement, nor the
consummation of the transactions contemplated hereby, shall (i) violate any constitution, statute,
regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction of any
government, governmental agency, or court to which Seller is subject, (ii) conflict with, result in
a breach of, constitute a default under, result in the acceleration of, create the right to
accelerate, terminate, modify, or cancel, or require any notice under any agreement, contract,
lease, license, instrument, or other arrangement to which Seller is are a party or by which Seller
is bound

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or to which any of its assets are subject, or (iii) result in the imposition or creation
of a mortgage, pledge, encumbrance, charge, security interest, or other lien upon or with respect
to the Seller Shares.

     (d) Seller Shares. Seller holds of record and owns beneficially all of the Seller
Shares free and clear of any restrictions on transfer (other than any restrictions common to all
shareholders of Buyer and securities laws), taxes, mortgage, pledge, encumbrance, charge, security
interest, or other liens, options, warrants, purchase rights, contracts, commitments, equities,
claims, and demands. Seller is not a Party to any option, warrant, purchase right, or other
contract or commitment that could require Seller (or any one or more of them) to sell, transfer, or
otherwise dispose of any of the Seller Shares.

     4.2. Buyer’s Representations and Warranties. Buyer represents and warrants to Seller
that the statements contained in this Section 4.2 are correct and complete as of the date of this
Agreement and shall be correct and complete as of the Closing Date (as though made then).

     (a) Organization. Buyer is duly organized, validly existing, and in good standing
under the laws of the State of Arkansas.

     (b) Authorization of Transaction. Buyer has full power and authority to execute and
deliver this Agreement and to perform its obligations under this Agreement. This Agreement
constitutes the valid and legally binding obligation of Buyer, enforceable in accordance with its
provisions. Buyer need not give any notice to, make any filing with, or obtain any authorization,
consent, or approval of any government or governmental agency in order to consummate the
transactions contemplated by this Agreement except as set forth in Section 3.

     (c) Non-contravention. Neither the execution and delivery of this Agreement, nor the
consummation of the transactions contemplated hereby, shall (i) violate any constitution, statute,
regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction of any
government, governmental agency, or court to which Buyer is subject or any provision of its
charter, bylaws, or other governing documents or (ii) conflict with, result in a breach of,
constitute a default under, result in the acceleration of, create the right to accelerate,
terminate, modify, or cancel, or require any notice under,
any agreement, contract, lease, license, instrument, or other arrangement to which Buyer is a Party
or by which Buyer is bound or to which any of its assets are subject.

     5. Pre-Closing Covenants. Seller and Buyer agree as follows with respect to the
period between the execution of this Agreement and the Closing:

     5.1 General. Each of the Parties shall use its reasonable efforts to take all actions
and to do all things in a timely manner necessary in order to consummate and make effective the
transactions contemplated by this Agreement including satisfaction, but not waiver, of the Closing
conditions set forth in Section 6.

     5.2. Press Releases and Public Announcements. No Party shall issue any press release
or make any public announcement relating to the subject matter of this Agreement without the prior
written approval of Buyer and Seller; provided however, that any Party may make any public
disclosure it believes in good faith is required by applicable law and in such

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event, that Party shall give such advance notice of the public disclosure to the other Party so that it may
coordinate its own or a mutual disclosure.

     5.3 Notice that Condition Not Met. A Party shall notify the other Party within 2
Business Days after it becomes aware that a condition to its obligation to consummate the
transactions contemplated by this Agreement cannot be met.

     6. Conditions to Closing.

     6.1. Conditions to Buyer’s Obligation. The obligation of Buyer to consummate the
transactions contemplated by this Agreement in connection with the Closing is subject to
satisfaction of the following conditions:

     (a) The representations and warranties of Seller set forth in this Agreement shall be true and
correct in all material respects as of the Closing.

     (b) Seller shall have performed and complied with all covenants set forth in this Agreement in
all material respects through the Closing.

     (c) All regulatory authorities shall have approved the transactions contemplated by this
Agreement as set forth in Section 3.

     (d) No action, suit, or proceeding shall be pending before any court or quasi-judicial or
administrative agency of any federal, state, local, or foreign jurisdiction or before any
arbitrator wherein an unfavorable injunction, judgment, order, decree, ruling, or charge would: (i)
prevent consummation of any of the transactions contemplated by this Agreement; (ii) cause any of
the transactions contemplated by this Agreement to be rescinded following consummation; (iii)
adversely affect the right of Buyer to own the Seller Shares; or (iv) materially and adversely
affect the right of Buyer to own its assets and to operate its business (and no such injunction,
judgment, order, decree, ruling, or charge shall be in effect).

     (e) All actions to be taken by Seller in connection with consummation of the transactions
contemplated hereby and all certificates, instruments, and other documents required to effect the
transactions contemplated hereby shall be reasonably satisfactory in form and substance to Buyer.

     (f) Seller shall have delivered all certificates representing the Seller Shares properly
endorsed in blank.

     (g) Seller shall have delivered to Buyer a certificate of the secretary of Seller dated as of
the Closing, in form and substance reasonably satisfactory to Buyer, as to the resolutions of the
board of directors of Seller authorizing the execution, delivery, and performance of this Agreement
and the transactions contemplated hereby.

     (h) Seller shall have delivered to Buyer the resignation of Ron W. Strother as a member of the
board of directors of Buyer effective as of the Closing.

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     (i) Buyer shall have received subscriptions for the purchase of shares of stock in Buyer
pursuant to a confidential private offering memorandum in an aggregate amount not less than equal
to the Purchase Price.

Buyer may waive any condition specified in this Section 6.1 by executing a document expressly
waiving the condition at or prior to the Closing or by proceeding to consummate the transaction
without the condition being satisfied.

     6.2. Conditions to Seller’s Obligation. The obligation of Seller to consummate the
transactions contemplated by this Agreement in connection with the Closing is subject to
satisfaction of the following conditions:

     (a) The representations and warranties of Buyer set forth in this Agreement shall be true and
correct in all material respects at and as of the Closing.

     (b) Buyer shall have performed and complied with all of its covenants hereunder in all
material respects through the Closing.

     (c) All regulatory authorities shall have approved the transactions contemplated by this
Agreement as set forth in Section 3.

     (d) No action, suit, or proceeding shall be pending before any court or quasi-judicial or
administrative agency of any federal, state, local, or foreign jurisdiction or before any
arbitrator wherein an unfavorable injunction, judgment, order, decree, ruling, or charge would: (i)
prevent consummation of any of the transactions contemplated by this Agreement; (ii) cause any of
the transactions contemplated by this Agreement to be rescinded following consummation; (iii)
adversely affect the right of Buyer to own Seller Shares; or (iv) materially and adversely affect
the right of Seller to own its assets and to operate its business (and no such injunction, judgment, order, decree, ruling, or charge shall be
in effect).

     (e) All actions to be taken by Buyer in connection with consummation of the transactions
contemplated hereby and all certificates, instruments, and other documents required to effect the
transactions contemplated hereby shall be reasonably satisfactory in form and substance to Seller.

     (f) Delivery to Seller of the Purchase Price in the manner required by Section 2.2 hereof.

     (g) Buyer shall have delivered to Seller a certificate of the secretary of Buyer dated as of
the Closing, in form and substance reasonably satisfactory to Seller, as to the resolutions of the
board of directors of Buyer authorizing the execution, delivery, and performance of this Agreement
and the transactions contemplated hereby.

Seller may waive any condition specified in this Section 6.2 by executing a document expressly
waiving the condition at or prior to the Closing or by proceeding to consummate the transaction
without the condition being satisfied.

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     7. Termination; Remedies.

     7.1. Termination. This agreement may be terminated:

     (a) On the mutual agreement of Buyer and Seller.

     (b) By either Buyer or Seller if the Closing does not occur by March 1, 2008 (or such later
date as Buyer and Seller may mutually agree in writing).

     (c) By a Party if that Party’s conditions to the Closing in Section 6 have not been met or
waived or if any of the representations, warranties, covenants or other agreements of the other
Party have been breached in any material respect.

     7.2 Remedies on Termination. If this Agreement terminates on account of the breach of
a Party, the non-breaching Party shall have the right to exercise all rights and remedies available
both at law and in equity.

     8. Miscellaneous.

     8.1. Survival. The representations and warranties contained in this Agreement and
all other terms, covenants and conditions hereof shall merge in the closing documents and shall not
survive the Closing nor, after the Closing, be the basis for any action by any party, except as to
any matter which is based upon willful fraud by a Party in which case the representations,
warranties, terms, covenants and conditions set forth in this Agreement shall expire only upon
expiration of the applicable statute of limitations.

     8.2. No Third-Party Beneficiaries. This Agreement shall not confer any rights or
remedies upon any person other than Seller and Buyer and their respective successors and permitted
assigns.

     8.3. Succession and Assignment. This Agreement shall be binding upon and inure to
the benefit of Seller and Buyer and their respective successors and permitted assigns. No Party may
assign either this Agreement or any of its rights, interests, or obligations hereunder without the
prior written approval of Buyer and Seller.

     8.4. Counterparts. This Agreement may be executed in one or more counterparts each
of which shall be deemed an original but all of which together shall constitute one and the same
instrument.

     8.5. Headings. The section headings contained in this Agreement are inserted for
convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

     8.6. Fees of Legal Counsel. If any Party shall employ any attorney to file a lawsuit
to protect its rights hereunder or to enforce any provision hereof, the Party prevailing in any
such lawsuit may recover from the other Party all of its reasonable attorneys’ fees and expenses
incurred in relation thereto.

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     8.7. Expenses and Broker’s Fees. Each Party shall pay its own respective attorneys’
fees incurred during the negotiation and closing of the transactions contemplated by this
Agreement. Seller and Buyer have no liability or obligation to pay any fees or commissions to any
broker, finder, or agent with respect to the transactions contemplated by this Agreement.

     8.8. Modification. No provision of this Agreement may be modified, amended, or waived
except by written agreement signed by the Party to be bound thereby.

     8.9. Notice. All notices, requests, demands, and other communications permitted or
required herein shall be in writing, and either delivered in person; sent by express mail or other
overnight delivery service providing receipt of delivery. All such notices and other
communications, unless otherwise designated in writing, shall be sent to the following persons:

	 	 	 	 	 
	 

	 	If to Seller:
	 	Ron W. Strother

Home Bancshares, Inc.

719 Harkrider, Suite 100

Conway, Arkansas 72032
	 
	 	 	 	 
	 

	 	with a copy to:

	 	Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.

Attn: John S. Selig

425 West Capitol Avenue

Suite 1800

Little Rock, Arkansas 72201-3525
	 
	 	 	 	 
	 

	 	If to Buyer:
	 	White River Bancshares Company

Attn: Gary R. Head

3878 North Crossover Road, Suite 20

Fayetteville, Arkansas 72703
	 
	 	 	 	 
	 

	 	with a copy to:
	 	Kutak Rock LLP

Attn:  Rayburn W. Green

214 West Dickson Street

Fayetteville, Arkansas 72701

     8.10. Severability. Each provision of this Agreement is severable from all other
provisions. If any provision is declared invalid or unenforceable, such provision shall be deemed
modified to the extent necessary to render it valid and enforceable. If any court of competent
jurisdiction determines that any such provision is invalid or unenforceable for any reason, all
remaining provisions shall remain in full force and effect.

     8.11. Time for Performance. Time is of the essence.

     8.12. Waiver. Either Party to this Agreement may, by written notice to the other
Party, extend the time for the performance of any obligation by the other Party; waive any
inaccuracies in this Agreement caused by the other Party; and waive compliance with any of the
covenants of the other Party in this Agreement. No waiver of a breach of any provision of this
Agreement shall operate or be construed as a waiver of any subsequent breach or limit or restrict
any

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right or remedy otherwise available. Any waiver of any provision shall be in writing and
signed by the Party to be bound thereby.

     8.13. Rights and Remedies Cumulative. The rights and remedies expressed in this
Agreement are cumulative and not exclusive of any rights and remedies otherwise available.

     8.14. Governing Law. This Agreement shall be subject to and governed by the laws of
the State of Arkansas.

     8.15. Composition of Agreement. Seller and Buyer represent that they have each read
this Agreement and each has sought and received competent legal counsel prior to its execution.
Seller and Buyer assume joint responsibility for the form and composition of each provision of this
Agreement and each acknowledge that this Agreement shall be interpreted as though they shared
equally in its preparation.

     8.16. Conflict in Instruments. To the extent that there is an irreconcilable conflict
between the provisions of this Agreement and any document delivered in connection herewith, the
provisions of this Agreement shall prevail.

     8.17. Entire Agreement. This Agreement contains the entire agreement of all Parties
on the subject matter hereof, and no other oral or written agreements shall be binding upon Seller
and Buyer. Seller and Buyer acknowledge that they have neither been influenced to enter into this
Agreement by any Party, nor relied on any representation of any Party except for those
representations set forth in this Agreement. This Agreement supersedes all prior agreements,
contracts, and understandings of any kind on the subject matter hereof, either oral or written.

     IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement on November 20, 2007.

	 	 	 	 	 
	 	BUYER

WHITE RIVER BANCSHARES COMPANY

 	 
	 	By:  	/s/ Gary R. Head
 	 
	 	              Gary R. Head, Chairman and CEO 	 
	 	 	 	 
	 
	 	SELLER

HOME BANCSHARES, INC.

 	 
	 	By:  	/s/ Ron W. Strother
 	 
	 	 	    Ron W. Strother, President and 	 
	 	 	    Chief Operating Officer 	 

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Exhibit 10.8

Form of Stock Purchase Agreement

          This Agreement sets forth the terms and conditions on which Axcess International Inc., a
Delaware Corporation, of 3208 Commander Drive, Carrollton, Texas, 75006 (the “Company”) will issue
and sell to                                          (the “Purchaser”) shares of Series 2007 Preferred Stock of
the Company, par value $0.01 per share (the “Preferred”).

          1. Type of Security and Purchase Price. The Purchaser hereby agrees to subscribe for
and purchase from the Company, and the Company hereby agrees to issue and sell to the Purchaser
                     (___) Preferred Shares. The purchase price shall be Ten Thousand US Dollars ($10,000) per
share for a total of                                          US Dollars ($                    ) payable in cash. Preferred shares
shall bear no dividends. The purchase and sale shall be effective as of August 8, 2007 (the
“Effective Date”).

          2. Purchase Dates and Delivery of Shares. The Company closed on the sale during
August of 2007. Upon its receipt of the purchase price, the Company shall issue and sell to the
Purchaser the number of Preferred and Warrants based on paragraph 1 above. On and as of the
Effective Date, the Company shall execute and deliver to the Purchaser stock certificates in proper
form representing the Shares.

          3. Securities Act Legend; Registration Rights.

               3.1 The Shares will not be registered under the Securities Act of 1933, as amended (the
“Securities Act”). Prior to registration, certificates representing the Shares shall bear a
restrictive legend substantially to the effect of the following:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, OR APPLICABLE STATE SECURITIES LAWS, OR THE SECURITIES LAWS OF ANY OTHER
JURISDICTION. THEY MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THOSE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION
THEREFROM. ADDITIONAL RESTRICTIONS REGARDING THE TERMS UNDER WHICH THE SHARES
REPRESENTED BY THIS CERTIFICATE MAY BE CONVERTED INTO NON-VOTING COMMON STOCK OF THE
COMPANY ARE SET FORTH IN THE CERTIFICATE OF DESIGNATIONS, PREFERENCES, POWERS AND
RIGHTS OF THE SERIES 2007 PREFERRED STOCK.

               3.2 The Company has committed to register the Common Stock Underlying the Series 2007
Preferred Stock under Form SB-2 (or comparable form, the “Registration Statement”) within 120 days
of the date the current SB-2 is declared effective and to make its best efforts to have the
Registration Statement declared effective at the earliest possible date.

          4. Representations and Warranties by the Company. The Company hereby represents and
warrants to the Purchaser as follows:

               4.1 The Company is a corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware, and has the corporate power and authority to execute and deliver
this Agreement, to issue the Shares on the basis described herein and otherwise to perform its
obligations under this Agreement.

               4.2 The execution and delivery by the Company of this Agreement, the issuance of the Shares,
and the performance by the Company of its obligations hereunder, have been duly authorized by all
requisite corporate action on the part of the Company and will not (i) violate any provision of
law, statute, rule or regulation or any order of any court or other agency of government, (ii)
conflict with or violate the Certificate of Incorporation (after amendment to authorize the
additional shares of non-voting common stock) or By-Laws of the Company, in each case as amended,
or (iii) violate, conflict with or constitute (with due notice or lapse of time or both) a default
under any indenture, mortgage, lease, license, agreement or other contract or instrument or result
in the creation or imposition of any lien, charge or encumbrance of any nature upon the properties
or assets of the Company or any of its subsidiaries, in each case if such violation, conflict,
default, lien, charge or encumbrance would have a material adverse effect on the Company.

               4.3 This Agreement has been duly executed and delivered by the Company and constitutes the
valid and legally binding obligation of the Company, enforceable in accordance with its terms,
except to the extent the enforceability hereof may be limited by applicable bankruptcy, moratorium
or similar laws affecting the rights of creditors generally.

               4.4 Based in part upon the representations and warranties of the Purchaser contained in this
Agreement, no registration or filing with, or consent or approval of, or other action by, any
federal, state or other governmental department, commission, board, bureau, agency or
instrumentality or any third party is or will be necessary for the execution and delivery of

 

 

this Agreement by the Company and the issuance of the Shares hereunder, other than the filing
of a notice of sale on Form D with the Securities and Exchange Commission and any other required
jurisdictions in accordance with the rules and regulations thereof under the Securities Act and
applicable state law.

               4.5 The Preferred Shares are duly authorized, validly issued, fully paid and non-assessable
shares of Series 2007 Preferred Stock, and are not subject to any preemptive rights.

          5. Representations and Warranties of the Purchaser. The Purchaser hereby represents
and warrants to the Company as follows:

               5.1 The Purchaser is acquiring the Shares for its own account, for investment and not with a
view to the distribution thereof within the meaning of the Securities Act.

               5.2 The Purchaser understands that the Shares have not been registered under the Securities
Act, by reason of their issuance by the Company in transactions exempt from the registration
requirements of the Securities Act, and that the Common shares must be held by the Purchaser until
registered under the Securities Act.

               5.3 The Purchaser further understands that the exemption from registration afforded by Rule
144 (the provisions of which are known to it) promulgated under the Securities Act depends on the
satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for
sales only in limited amounts, after compliance with the holding periods and other provisions
thereof.

               5.4 The Purchaser understands that its investment hereunder involves substantial risks and
represents and warrants that it has made such independent examinations and investigations of the
Company as it has deemed necessary in making its investment decision, and the Purchaser further
represents and warrants that it has had sufficient access to the officers, directors, books and
records of the Company as it has deemed necessary to conduct such examination and investigation and
make such investment decision. Purchaser agrees to keep confidential the confidential information
provided for the purpose of evaluating the purchase herein.

               5.5 The Purchaser is a qualified investor able to bear the economic risk of the investment
contemplated by this Agreement and has such knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of the investment contemplated by
this Agreement.

          6. Reaffirmation of Representations and Warranties. The date Units are purchased
shall constitute a reaffirmation of each and every one of the representations and warranties of the
Company set forth in Section 5 of this Agreement and those of the Purchaser set forth in Section 6
of this Agreement as if made as of each Effective Date, unless otherwise restated or corrected by
either the Purchaser or the Company, as the case may be.

          7. Miscellaneous.

               7.1 This Agreement constitutes our entire agreement with respect to the subject matter hereof.
This Agreement may not be modified or amended or any provision hereof waived except by an
instrument in writing signed by the Company and the Purchaser.

               7.2 This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns. The rights of the Purchaser hereunder shall be
assignable to any holder of the Shares. Except as provided in the immediately preceding sentence,
this Agreement and the rights of the Purchaser hereunder shall not be assignable, and any purported
assignment hereof or thereof shall be void.

               7.3 This Agreement may be executed in any number of counterparts and on separate counterparts,
each of which shall be an original instrument, but all of which together shall constitute a single
agreement. One or more signature pages from any counterpart of this Agreement may be attached to
any other counterpart of this Agreement without in any way changing the effect thereof. This
Agreement shall be effective when executed and delivered by the Company and the Purchaser.

               7.4 All notices, requests, demands, consents, waivers, or other communications made hereunder
to any party or holder of Shares shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by nationally-recognized overnight courier, facsimile or by first
class registered or certified mail, return receipt requested, postage prepaid, addressed to such
party at the address set forth below:

if to the Company, to:

 

 

Axcess International Inc.

3208 Commander Drive

Carrollton, TX 75006

Attention: Chief Financial Officer

with a copy to:

Epstein Becker & Green, P.C.

500 North Akard, Suite 2700

Dallas, TX 75201

214-397-4335

Attention: Craig Ongley

if to the Purchaser:

to the Purchaser at its address first set forth above,

or to such other address as the party to whom such communication is to be given may have furnished
to the other party in writing in accordance herewith. All such notices, requests, demands,
consents, waivers or other communications shall be deemed to have been delivered (i) in the case of
personal delivery, on the date of delivery, (ii) if sent by facsimile, on the date sender receives
a confirmation confirming receipt, (iii) if sent by overnight courier, on the next business day
following the date sent and (iv) in the case of mailing, on the third business day following such
mailing.

               7.5 All representations, warranties and agreements contained herein shall survive the
execution and delivery of this Agreement and the sale of the Shares hereunder.

               7.6 This Agreement, and all rights, obligations and liabilities hereunder, shall be construed
according to the laws of the State of Texas applicable to contracts made and to be performed wholly
therein. Any judicial proceeding brought against the Company to enforce, or otherwise in
connection with, this Agreement may be brought in any court of competent jurisdiction in the City
of New York, and, by execution and delivery of this Agreement, the Company (i) accepts, generally
and unconditionally, the nonexclusive jurisdiction of such courts and any related appellate court
and irrevocably agrees to be bound by any final judgment rendered thereby in connection with this
Agreement and (ii) irrevocably waives any objection it may now or hereafter have as to the venue of
any such proceeding brought in such a court or that such a court is an inconvenient forum.

          If the foregoing correctly sets forth your understanding of our agreement, please so indicate
by signing and returning to the Company the enclosed counterpart of this Agreement.

	 	 	 	 	 
	 	Very truly yours,

AXCESS INTERNATIONAL INC.

 	 
	 	By:  	 	 
	 	 	Allan Griebenow, Chief Executive Officer 	 
	 	 	 	 
	 

The undersigned agrees with and

accepts the foregoing terms and provisions

as of the date first above written.

By:                                         ,

Printed Name:                                         ,

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