Document:

AFFILIATE STOCK PURCHASE AGREEMENT

 

THIS AFFILIATE STOCK PURCHASE AGREEMENT (“Agreement”) is made as of the 9th day of September, 2011, by and between NATALYA LASTOVKA  (“Seller”) and GEORGE DORY (“Purchaser”) as to 3,000,000 shares, of GREENHOUSE SOLUTIONS INC.

 

RECITALS

 

WHEREAS, the Seller is the owner of 3,000,000 restricted shares of common stock of GREENHOUSE SOLUTIONS INC., a NEVADA corporation (the "Company"); and

 

WHEREAS, the Seller proposes to sell to the Purchaser the 3,000,000 restricted shares of common stock of the Company currently owned by the Seller (the “Purchased Shares”), on the terms set forth herein.

 

In consideration of the premises, representations, warranties and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.                          PURCHASE AND SALE AND CLOSING

 

1.1                        The Seller hereby agrees to sell, assign, transfer and deliver to the Purchaser, and the Purchaser hereby agrees to purchase from the Seller, the Purchased Shares for an aggregate purchase price of THIRTY THOUSAND and no/100 U.S. Dollars ($30,000) (the "Purchase Price") payable on the Closing Date (as defined below).  Payment shall be in U.S. Dollars, in the form of bank wire.  An amount of $30,000 in good funds delivered and cleared to Seller’s account (account information as provided by separate communiqué’).

 

1.2                        Closing.  The closing (“Closing”) of the transactions contemplated hereby will occur on, or, before the 9th day of September, 2011 (the “Closing Date”).

 

2.                          REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

2.1                        The Seller warrants, covenants and represents to the Purchaser with the intention of inducing the Purchaser to enter into this Agreement that:

 

	
  

	
(a)

	
immediately prior to and at the Closing, the Seller shall be the legal and beneficial owner of the Purchased Shares and on the Closing Date, the Seller shall transfer to the Purchaser the Purchased Shares free and clear of all liens, restrictions, covenants or adverse claims of any kind or character;

 

	
  

	
(b)

	
the Seller has the legal power and authority to execute and deliver this Agreement and all other documents required to be executed and delivered by the Seller hereunder and to consummate the transactions contemplated hereby; and

 

	
  

	
(c)

	
the Seller is, or has been during the past ninety (90) days, an officer, director, 10% or greater shareholder or "affiliate" of the Company, as that term is defined in Rule 144 promulgated under the United States Securities Act of 1933, as amended (the "Securities Act");

 

  

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(d)

	
to the best of the knowledge, information and belief of the Seller there are no circumstances that may result in any material adverse effect to the Company or the value of the Purchased Shares that are now in existence or may hereafter arise;

 

	
  

	
(e)

	
as of the Closing Date the Seller shall not be indebted to the Company and the Company shall  not be indebted to the Seller;

 

	
  

	
(f)

	
the Seller does not now, nor will it prior to or on the Closing Date, own, either directly or indirectly, or exercise direction or control over any common shares of the Company other than the Purchased Shares;

 

	
  

	
(g)

	
the authorized capital of the Company consists of 75,000,000 common shares, par value $0.001, of which a total of 9,730,000 common shares have been validly issued, are outstanding and are fully paid and non-assessable;

 

	
  

	
(h)

	
no person, firm or corporation has any right, agreement, warrant or option, present or future, contingent or absolute, or any right capable of becoming a right, agreement or option to require the Company to issue any shares in its capital or to convert any securities of the Company or of any other company into shares in the capital of the Company;

 

	
  

	
(i)

	
as of the closing, the liabilities of the Company whether accrued, contingent or otherwise, shall be less than $3,000.00; and the Seller will pay any outstanding liability of the Company with the Purchase Price

 

	
  

	
(j)

	
the Company has good and marketable title to all of its assets, and such assets are free and clear of any financial encumbrances not disclosed in the Financial Statements;

 

	
  

	
(k)

	
the Company has filed all reports required to be filed by it under the Securities Act and the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), including pursuant to Section 13(a) or 15(d) of the Exchange Act, (the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension.  As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the United States Securities and Exchange Commission (the “Commission”) promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.  The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing;

 

  

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(l)

	
the Company is not a party to or bound by any agreement or understanding granting registration or anti-dilution rights to any person with respect to any of its equity or debt securities; no person has a right to purchase or acquire or receive any equity or debt security of the Company;

 

	
  

	
(m)

	
the Company is in compliance with the applicable provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder;

 

	
  

	
(n)

	
contemporaneously herewith, the Seller as a director shall appoint a representative of the Buyer to the Board of Directors of the Company;

 

	
  

	
(o)

	
the Seller and all other officers and directors of the Company shall tendered their resignations as officers and directors of the Company, to be effective on the Closing Date;

 

	
  

	
(p)

	
the Seller agrees to execute and deliver such other documents and to perform such other acts as shall be necessary to effectuate the purposes of this Agreement

 

	
  

	
(q)

	
there are no claims threatened or against or affecting the Company nor are there any actions, suits, judgments, proceedings or investigations pending or, threatened against or affecting the Company, at law or in equity, before or by any Court, administrative agency or other tribunal or any governmental authority or any legal basis for same; and,

 

3.                          REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

 

3.1                        The Purchaser represents and warrants to the Seller that the Purchaser:

 

	
  

	
(a)

	
has the legal power and authority to execute and deliver this Agreement and to consummate the transactions hereby contemplated;

 

	
  

	
(b)

	
understands and agrees that offers and sales of any of the Purchased Shares prior to the expiration of a period of one year after the date of completion of the transfer of the Purchased Shares (the "Restricted Period") as contemplated in this Agreement shall only be made in compliance with the safe harbor provisions set forth in Rule 144, or pursuant to the registration provisions of the Securities Act or pursuant to an exemption therefrom, and that all offers and sales after the Restricted Period shall be made only in compliance with the registration provisions of the Securities Act or an exemption therefrom; and

 

	
  

	
(c)

	
is acquiring the Purchased Shares as principal for the Purchaser's own account, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalisation thereof, in whole or in part, and no other person has a direct or indirect beneficial interest in the Purchased Shares

 

	
3.2

	
The Purchaser agrees not to engage in hedging transactions with regard to the Purchased Shares accept in compliance with the Securities Act.

 

  

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4.                          INDEMNIFICATION

 

4.1                        The Seller hereby agrees to indemnify and hold harmless the Purchaser and the Company against any losses, claims, damages or liabilities to which the Purchaser or the Company may become subject insofar as such losses, claims, damages or liabilities arise out of or are based upon taxes, real property leases or equipment leases payable by or for which the Company has the primary liability; and in particular, any misrepresentation of the Seller as contained herein.  Damages of the Purchaser are not limited to the amount of the Seller received hereunder but will include the Purchaser’s or Company’s actual cost of any claim and full costs of negotiations and for defence.

   

5.                          POST-CLOSING SEC REPORTS

 

5.1           Except for any Form 3, 4 or 5 to be filed on behalf of the Seller, the Purchaser hereby agrees that it shall file any and all necessary SEC Reports, including but not limited to any Schedule 13D, 8-K or any other SEC Report.

 

6.                          MISCELLANEOUS

 

6.1                        The parties hereto acknowledge that they have obtained independent legal advice with respect to this Agreement and acknowledge that they fully understand the provisions of this Agreement.

 

6.2                        Unless otherwise provided, all dollar amounts referred to in this Agreement are in United States dollars.

 

6.3                        There are no representations, warranties, collateral agreements, or conditions concerning the subject matter of this Agreement except as herein specified.

 

6.4                        This Agreement will be governed by and construed in accordance with the laws of the State of NEVADA. The parties hereby attorn to the jurisdiction of the courts CLARK County, NEVADA with respect to any legal proceedings arising from this Agreement.

 

6.5                        The representations and warranties of the parties contained in this Agreement shall survive the closing of the purchase and sale of the Purchased Shares and shall continue in full force and effect for a period of one year.

 

6.7                        This Agreement may be executed in several counterparts, each of which will be deemed to be an original and all of which will together constitute one and the same instrument.

 

6.8                        Delivery of an executed copy of this Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the date set forth on page one of this Agreement.

 

  

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Each of the parties hereto has executed this Agreement to be effective as of the day and year first above written.

 

SELLER:

	  	  
	  	
/s/ Natalya Lastovka

	  	
NATALYA LASTOVKA

 

PURCHASER:

 

	  	
/s/ George Dory

	  	
George Dory

  

Page 5 of 5exhibit_10-2.htm

Exhibit 10.2

 

	
I. 

	
Summary of Lease Agreement Dated January 22, 2003

	
1.

	
Parties: Pluristem Ltd. (“Pluristem”) and MTM – Scientific Industries Center Haifa Ltd. (“MTM”).

 

	
2.

	
Signing Date: January 22, 2003.

 

	
3.

	
Lease Period: January 1, 2003 until December 31, 2003 (the “Lease Period”). In addition, Pluristem has an option to extend the lease by two periods of 12 months each, subject to providing MTM with 5 months prior written notice (the “First Option Period” and the “Second Option Period”, respectively).

 

	
4.

	
The Premises: A certain area in Building 20 (approximately 640 square meters), MATAM Advanced Technology Park, Haifa, Israel.

 

	
5.

	
Lease Fees: Lease fees are monthly, payable in the following amounts (linked to the Israeli Consumer Price Index as of November 2002):

 

	
  

	
5.1.

	
During the Lease Period, NIS43 per one square meter (plus applicable taxes).

 

	
  

	
5.2.

	
During the First Option Period, NIS47.25 per one square meter (plus applicable taxes).

 

	
  

	
5.3.

	
During the Second Option Period, NIS49.60 per one square meter (plus applicable taxes).

 

	
6.

	
Guarantees: In order to secure its undertakings under this agreement, Pluristem shall provide MTM with a deposit in an amount equal to 3 month lease payments on account of the last 3 months of the Lease Period.

 

	
II. 

	
Summary of First Supplement to Lease Agreement Dated December 11, 2005

 

A first supplement dated December 11, 2005 (the “First Supplement”) made to the existing lease agreement dated January 22, 2003 (the “Lease Agreement”).

 

	
1.

	
Parties: Pluristem Ltd. (“Pluristem”) and MTM – Scientific Industries Center Haifa Ltd. (“MTM”).

 

	
2.

	
Signing Date: December 11, 2005.

 

	
3.

	
Lease Period: January 1, 2006 until December 31, 2007 (the “Lease Period”).

 

	
4.

	
Sprinklers Installation: Pluristem shall pay the cost of sprinklers installation of up to NIS25,000.

 

Subject to the arrangements under the First Supplement, all the provisions, including lease payments, of the Lease Agreement shall apply to the First Supplement.

 

  

  

  

 

	
III. 

	
Summary of Second Supplement to Lease Agreement Dated June 12, 2007

A second supplement dated June 12, 2007 (the “Second Supplement”) made to the existing lease agreement dated January 22, 2003, as supplemented on December 11, 2005 (the “Lease Agreement”).

	
5.

	
Parties: Pluristem Ltd. (“Pluristem”) and MTM – Scientific Industries Center Haifa Ltd. (“MTM”).

 

	
6.

	
Signing Date: June 12, 2007.

 

	
7.

	
Lease Period: July 1, 2007 until August 31, 2012 (the “Lease Period”). In addition, subject to providing MTM with 9 months prior written notice, Pluristem has the option to (i) shorten the lease period to a total of 36 months period, provided, that Pluristem shall pay MTM a termination fee in the amount of NIS 325,000; or (ii) extend the lease period by an additional 60 months period (the “Option Period”).

 

	
8.

	
The Premises: A certain area in Building 20, (approximately 1,280 square meters), MATAM Advanced Technology Park, Haifa, Israel.

 

The premises will be transferred “as is”, and Pluristem undertakes to alter and/or construct the internal area of the premises at its expense, provided, however, that MTM shall participate in such cost by up to NIS650,000.

 

	
9.

	
Lease Fees: Lease fees are monthly, payable in the following amounts (linked to the November 2002 Israeli CPI):

 

	
  

	
9.1.

	
During the Lease Period, NIS49.60 per one square meter (plus applicable taxes) (the “Lease Fee”).

 

	
  

	
9.2.

	
During the Option Period, the monthly lease fee shall be equal to the Lease Fee plus 5% (plus applicable taxes).

 

	
10.

	
Guarantees: In order to secure its undertakings under the Second Supplement, Pluristem shall provide MTM with a bank guarantee in the amount of NIS250,000 (linked to the Israeli Consumer Price Index as of the execution date of the Second Supplement).

 

Subject to the arrangements under the Second Supplement, all the provisions of the Lease Agreement shall apply to the Second Supplement.

 

  

  

  

 

	
IV. 

	
Summary of Supplement to Lease Agreement Dated July 19, 2011

A supplement dated July 19, 2011 (the “Supplement”) made to the existing lease agreement dated January 22, 2003, as supplemented on December 11, 2005 and June 12, 2007 (the “Lease Agreement”).

	
1.

	
Parties: Pluristem Ltd. (“Pluristem”) and MTM – Scientific Industries Center Haifa Ltd. (“MTM”).

 

	
2.

	
Signing Date: July 19, 2011.

 

	
3.

	
Lease Period: January 15, 2012 until March 31, 2017 (the “Lease Period”). In addition, Pluristem has an option to extend the lease by two periods of 30 months each, subject to providing MTM with 6 months prior written notice (the “First Option Period” and the “Second Option Period”, respectively). The premises to be leased during the Lease Period shall be as follows: (i) approximately 1,400 square meters as of January 15, 2012; (ii) approximately 600 square meters as of June 1,
2012; and (iii) approximately 600 square meters as of June 15, 2012.

 

	
4.

	
The Premises: A certain area in Building 5, (approximately 2,600 square meters), MATAM Advanced Technology Park, Haifa, Israel.

 

The premises will be transferred “as is”, and Pluristem undertakes to alter and/or construct the internal area of the premises at its expense, provided, however, that MTM shall participate in such cost by up to NIS1,150 per one square meter, or a total of NIS2,990,000 per the 2,600 square meters of the premises.

 

	
5.

	
Lease Fees: Lease fees are monthly, payable in the following amounts (linked to the linked to the June 2011 Israeli Consumer Price Index):

 

	
  

	
5.1.

	
During the Lease Period, NIS54 per one square meter (plus applicable taxes) (the “Lease Fee”).

 

	
  

	
5.2.

	
During the First Option Period, the monthly lease fee shall be equal to the Lease Fee plus 3% (plus applicable taxes) (the “First Option Fee”).

 

	
  

	
5.3.

	
During the Second Option Period, the monthly lease fee shall be equal to the First Option Fee plus 3% (plus applicable taxes).

 

	
6.

	
Guarantees: In order to secure its undertakings under the Second Supplement, Pluristem shall provide MTM with a bank guarantee in an amount equal to 6 month lease payments (linked to the June 2011 Israeli Consumer Price Index).

 

Subject to the arrangements under this supplement, all the provisions of the Lease Agreement shall apply to this supplement.

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