Document:

Stock Repurchase Agreement

 

EXHIBIT 10.12

VYNLEADS, Inc.

STOCK REPURCHASE AGREEMENT

THIS STOCK REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of the date set forth on the signature page hereto, by and between Vynleads, Inc., a Delaware corporation (the “Company”) and Christos Livadas (the “Selling Stockholder”). 

WHEREAS, the Selling Stockholder is the holder of record of 2,500,000 shares of Class A Common Stock, par value $0.0001 per share of the Company (“Common Stock”); 

WHEREAS, the Selling Stockholder wishes to sell to the Company, and the Company wishes to repurchase 2,000,000 shares of Common Stock (the “Shares”) subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties, and covenants herein contained, the parties agree as follows: 

Section 1.

Repurchase and Sale of the Shares. 

1.1

Repurchase. The Company hereby agrees to repurchase from the Selling Stockholder, and the Selling Stockholder hereby agrees to sell, assign and transfer to the Company, all of the Selling Stockholder’s right, title and interest in and to the Shares for an aggregate repurchase price (the “Repurchase Price”) and at a price per Share as set forth on the signature page hereto. The Repurchase Price shall be paid by cash, check or wire transfer of immediately available funds to an account or accounts to be designated by the Selling Stockholder.

1.2

Stock Power. Simultaneously with the execution of this Agreement, the Selling Stockholder shall deliver a duly executed stock transfer power transferring the Shares to the Company, in the form attached hereto as Exhibit A (the “Stock Power”).

1.3

Cancellation of Shares. Promptly upon its receipt of the executed Stock Power and payment of the Repurchase Price, the Company shall cancel the Shares on the books and records of the Company and the Shares shall cease to be outstanding for any and all purposes.

Section 2.

Representations of the Selling Stockholder. 

The Selling Stockholder hereby represents and warrants to the Company as follows:

2.1

Authorization; Enforceability.  The Selling Stockholder has all the requisite power and authority to execute and deliver this Agreement, to consummate the transaction contemplated hereby and to perform the Selling Stockholder’s obligations hereunder, and no 

Vynleads, Inc.                                                                                                                  Stock Repurchase Agreement

other proceedings on the part of the Selling Stockholder are necessary to authorize the execution, delivery and performance of this Agreement. Upon its execution and delivery, this Agreement will constitute a valid and binding obligation of the Selling Stockholder, enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights, and (b) as limited by general principles of equity.

2.2

Ownership of Shares. The Selling Stockholder is the sole owner and holder of record of all of the Shares and all right, title and interest therein. The Selling Stockholder has the full and complete right at law and in equity to sell, assign, transfer and convey the Shares to the Company, free and clear of any restrictions.  Upon the sale, assignment, transfer and conveyance of the Shares and payment therefore, the Company will acquire valid marketable title to the Shares and all right, title and interest therein, free and clear of any and all restrictions, except such restrictions imposed under applicable state and federal securities laws.

2.3

Transfer Restrictions and Exceptions.  The Shares are subject to various rights of first refusal and restrictions on transfer pursuant to that certain Stockholders Agreement dated, July 15, 2015 (the “Stockholders Agreement”). The Selling Stockholder has complied with all transfer restrictions under the Stockholders Agreement that may be applicable to the transfer of the Shares contemplated hereby and the Shares are ready to be sold without any further requirements, obligations or adverse claims under such arrangements.

Section 3.

Representations of the Company. 

The Company hereby represents and warrants to the Selling Stockholder as follows:

3.1

Authorization of Transaction.  The execution and delivery of this Agreement, the performance of all obligations of the Company hereunder, and the purchase of the Shares by the Company hereunder, have been duly authorized, executed and delivered by the Company. Upon execution and delivery, this Agreement constitutes a valid and binding obligation of the Company enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights, and (b) as limited by general principles of equity.

3.2

Compliance with Other Instruments. The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby will not result in a material violation of, or default under, the Certificate of Incorporation or Bylaws of the Company (each as amended to date) or any instrument, judgment, order, writ, decree or material contract known to the Company to which the assets of the Company are subject. 

Section 4.

Miscellaneous. 

4.1 

Entire Agreement.  This Agreement, together with the Stock Power, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof, and supersedes any prior understandings, agreements, or representations by or between the parties hereto, written or oral, to the extent they related in any way to the subject matter hereof.

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Vynleads, Inc.                                                                                                                  Stock Repurchase Agreement

4.2

Succession and Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  Neither party may assign their respective rights under this Agreement without the prior written consent of the other party.

4.3

Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the domestic laws of New York, without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than New York.  

4.4

Amendments and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by the parties hereto.  All rights available to either party under this Agreement, or allowed by law or equity, are and shall be cumulative and may be exercised separately or concurrently and from time to time without waiver of any other remedies.  No party hereto shall be deemed to have waived any right, power or privilege under this Agreement, unless such waiver shall have been expressed in a written instrument signed by the waiving party.  

4.5

Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction.

4.6

Expenses. Each party will be responsible for and will pay its own costs and expenses (including all taxes and all legal fees and expenses) incurred in connection with the negotiation, drafting, execution and delivery of this Agreement and the other transaction documents in connection with the consummation of the transaction contemplated hereby. 

4.7

Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that the parties need not sign the same counterpart. This Agreement may be delivered by fax, scan or other electronic means which shall be deemed to be an original and shall have the same full force and effect as the original exemplar thereof. 

[Signatures on Next Page]

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Vynleads, Inc.                                                                                                                  Stock Repurchase Agreement

			
	Number of Shares Sold

	Price per Share

	Aggregate Repurchase Price

	

2,000,000

	

$0.10

	

$200,000.00

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of _____________________ ____, 2017.

COMPANY: VYNLEADS, INC. 

By: 

/s/ Alex Mannine

Name: Alex Mannine

Title:   CEO

SELLING STOCKHOLDER: 

/s/ Christos Livadas

Christos Livadas 

Exhibit A: Stock Power 

4EX-4.1

 Exhibit 4.1 
  

 
 Exhibit 4.1 ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# COMMON STOCK PAR VALUE $0.0001 COMMON STOCK
Certificate Number ZQ00000000 KODIAK SCIENCES INC. INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE Shares * * 000000 ****************** * * * 000000 ***************** **** 000000 **************** ***** 000000 *************** ****** 000000
************** THIS CERTIFIES THAT ** Mr. Alexander David Sample **** SEE REVERSE FOR CERTAIN DEFINITIONS CUSIP 50015M 10 9 is the owner of **000000**Shares**** MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPLE ***ZERO HUNDRED THOUSAND
ZERO HUNDRED AND ZERO*** THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Kodiak Sciences Inc. (hereinafter called the
“Company”), transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject
to all of the provisions of the Certificate of Incorporation, as amended, and the By-Laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof,
assents. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. President Secretary DATED
DD-MMM-YYYY COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, By AUTHORIZED SIGNATURE PO BOX 43004, Providence, RI 02940-3004 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 CUSIP/IDENTIFIER
XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 Certificate Numbers Num/No. Denom. Total 1234567890/1234567890 1 1 1 1234567890/1234567890 2 2 2 1234567890/1234567890 3 3 3
1234567890/1234567890 4 4 4 1234567890/1234567890 5 5 5 1234567890/1234567890 6 6 6 Total Transaction 7 

 

 
 KODIAK SCIENCES INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS,
PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND
LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS
FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE THE
COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. The following abbreviations, when used in the inscription on
the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT Custodian (Cust) (Minor) TEN ENT- as tenants by the entireties
under Uniform Gifts to Minors Act (State) JT TEN- as joint tenants with right of survivorship UNIFTRF MIN ACT - Custodian (until age) and not as tenants in common (Cust) under Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations
may also be used though not in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF
ASSIGNEE) Shares of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said stock on the books of the within-named Company with full power of substitution in the
premises. Dated: 20 Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever.
Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The IRS requires that the named transfer agent (we) report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are covered by the legislation, and you
requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have defaulted to the first in, first out
(FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period specified by state law, your property
may become subject to state unclaimed property laws and transferred to the appropriate state.

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