Document:

Exhibit 10.4

 

STOCK
PURCHASE AGREEMENT

 

This Stock Purchase
Agreement (the “Agreement”),
dated as of April 1, 2004, is entered into by and between enherent Corp., a
Delaware corporation (“Purchaser”), and Primesoft, LLC, a Delaware corporation
(“Seller”).

 

RECITALS

 

Seller is the owner at
the date hereof of 2,750,000 shares of the issued and outstanding Series A
Preferred Stock, par value $0.001 per share (“Preferred Stock”) of Purchaser, and a Warrant
to obtain 1,875,000 shares of Purchaser’s Common Stock for the price of $1.00
per share.

 

Seller desires to sell
and Purchaser desires to purchase the 2,750,000 shares of the issued and
outstanding shares of Series A Preferred Stock currently owned by Seller (the “Acquired Shares”),
and the Warrant (the “Warrant”), upon the terms set forth in this Agreement.

 

AGREEMENT

 

Based upon the foregoing
and the mutual promises contained herein, the parties agree as follows:

 

1.                                  PURCHASE
AND SALE OF COMMON STOCK

 

1.1                                 Purchase.
Upon the terms and subject to the conditions of this Agreement, on the Closing
Date: (i) Seller shall sell, assign, convey, transfer and deliver to Purchaser
or its designee, free and clear of any pledge, security interest, lien, charge,
option, encumbrance or other restriction of any kind or nature whatsoever (“Lien”) the Acquired
Shares, and (ii) Purchaser shall pay to Seller the aggregate cash consideration
of Two Hundred and Fifty Thousand Dollars ($250,000.00) payable upon execution
of this Agreement, and provide Seller with a Promissory Note for $150,000
payable $50,000 on April 15, 2005, $50,000 on April 15, 2006 and $50,000 on
April 15, 2007, said Promissory Note to bear interest at the rate of 4% per
annum.

 

1.2                                 Closing.
Upon satisfaction or waiver of the conditions precedent set forth in Section 3,
and unless this Agreement shall have been terminated and the transactions
herein contemplated shall have been abandoned pursuant to the provisions of
Section 4, a closing with respect to the transactions provided for in this
Agreement (the “Closing”)
shall take place within three (3) business days of the date that all of the
conditions precedent set forth in Section 3 are satisfied, or such other time
or date as is agreed to in writing by Seller and the Purchaser (the time and
date of such Closing is referred to herein as the “Closing Date”). The parties will use their
best efforts to have the Closing on March 23, 2004. All proceedings to take
place at the Closing shall take place simultaneously, and no delivery shall be
considered to have been made until all such proceedings have been completed.

 

 

2.                                  REPRESENTATIONS
AND WARRANTIES

 

2.1                                 Representations
and Warranties of Seller. Seller hereby represents and warrants to
Purchaser as follows:

 

(a)                                  Organization
and Power. Seller is a corporation duly incorporated, validly existing and
in good standing under the laws of the state of Delaware and has the requisite
corporate power and authority to sell, assign, convey, transfer and deliver the
Acquired Shares and Warrant and to enter into this Agreement and perform its
obligations hereunder.

 

(b)                                 Authorization,
Execution and Delivery, Etc. The execution, delivery and performance by
Seller of this Agreement and all other agreements contemplated hereby or
necessary in connection herewith and the consummation by Seller of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary actions. This Agreement has been duly executed and delivered by
Seller and is a legal, valid and binding obligation of Seller, enforceable
against Seller in accordance with its terms. Seller: (i) has good and valid
title to the Acquired Shares and Warrant, free and clear of all Liens; and (ii)
upon delivery of and payment for the Acquired Shares and Warrant in accordance
with Section 1.1 hereof, good and valid title to the Acquired Shares and
Warrant will pass to the Purchaser free and clear of all Liens.

 

(c)                                  Third
Party Consents. There is no legal impediment to Seller’s consummation of
the transactions contemplated by this Agreement, and no filing or registration
with, or authorization, consent or approval of any domestic or foreign public
body or authority is necessary for the consummation by Seller of the
transactions contemplated by this Agreement.

 

2.2                                 Representations
and Warranties of Purchaser. Purchaser hereby represents and warrants to
Seller as follows:

 

(a)                                  Organization
and Power. Purchaser is a corporation duly formed, validly existing and in
good standing under the laws of the State of Delaware and has the requisite
corporate power and authority to own, hold and purchase the Acquired Shares and
Warrant and to enter into this Agreement and perform its obligations hereunder.

 

(b)                                 Authorization
Execution and Delivery, Etc.. The execution, delivery and performance by
Purchaser of this Agreement and all other agreements contemplated hereby or
necessary in connection herewith and the consummation by Purchaser of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary actions. This Agreement has been duly executed and delivered by
Purchaser and is a legal, valid and binding obligation of Purchaser,
enforceable against Purchaser in accordance with its terms.

 

(c)                                  Third
Party Consents. There is no legal impediment to Purchaser’s consummation of
the transactions contemplated by this Agreement, and no filing or registration
with, or authorization, consent or approval of any domestic or foreign public
body or authority is necessary for the consummation by Seller of the
transactions contemplated by this Agreement.

 

2

 

3.                                      CONDITIONS
PRECEDENT

 

3.1                                 Conditions
to Obligations of Each Party. The obligations of each party hereunder are
subject to the satisfaction on or prior to the Closing Date of the following
conditions, unless waived in writing by Purchaser and Seller:

 

(a)                                  No
Injunction. No court or other governmental body or public authority shall
have issued an order which shall then be in effect restraining, enjoining or
prohibiting the transactions contemplated by this Agreement.

 

4.                                      TERMINATION

 

4.1                                 Termination
by Collective Agreement. This Agreement may be terminated at any time prior
to the Closing by the joint written agreement of Seller and Purchaser.

 

4.2                                 Termination
by Either Party. This Agreement may be terminated by written notice by
either party to the other at any time prior to the Closing:

 

(a)                                  if
a representation or warranty contained in Section 3.1 shall become untrue and
the breaching party shall have been afforded reasonable opportunity to cure
such breach; or

 

(b)                                 if
the transactions contemplated by this Agreement have not been consummated by
April 15, 2004 (unless a later date is established by the mutual written
consent of such parties before such date).

 

4.3                                 Effect
of Failure by a Party to Consummate Transaction Due to Breach. Provided
that Purchaser, in the event Seller is the breaching party, or Seller, in the
event the Purchaser is the breaching party, is not then in breach of any of its
own obligations under this Agreement and the Promissory Note, upon (i)
termination of this Agreement due to a breach as described in Section 4.2 (a)
or (ii) the failure of a party to perform its obligations hereunder after all
of the conditions precedent set forth in Section 3 are satisfied, the
non-breaching party shall be entitled to reimbursement of all fees and expenses
incurred by the non-breaching party and to pursue against the breaching party
any and all rights and/or remedies, at law or in equity, to which such
non-breaching party may be entitled.

 

5.                                      MISCELLANEOUS

 

5.1                                 Further
Assurances. Seller hereby covenants and agrees to and with Purchaser to
execute and deliver such additional instruments of sale, assignment,
conveyance, transfer or delivery and to take such additional reasonable action
as Purchaser may reasonably request to more effectively transfer to and vest in
Purchaser, and to put Purchaser in possession of, or give Purchaser the benefit
or enjoyment of, any and all of the Acquired Shares and Warrant, free and clear
of any and all Liens.

 

3

 

5.2                                 Finder’s
and Broker’s Fees. Seller and Purchaser each represent and warrant to the
other that there are no claims (or any basis therefor) for brokerage
commissions, finder’s fees or like payments in connection with this Agreement
or the transactions contemplated hereby resulting from any action taken by
either of the Purchaser or Seller.

 

IN WITNESS WHEREOF, the parties hereto
hereby execute this Agreement as of the date first written above.

 

Purchaser:

 

	
  /S/

  	
   

  

 

 

Douglas
A. Catalano/Chairman, CEO and President

[Name/Title]

 

Seller:

 

	
  /S/

  	
   

  

 

 

Mahita Caddell/Director

[Name/Title]

 

4Exhibit 10.5

 

PROMISSORY NOTE

 

	
  $150,000.00

  	
   

  	
  Connecticut

  	
   

  	
  April 1, 2004

  

 

1.                                      Promise
to Pay.

 

A.                                   FOR
VALUE RECEIVED, enherent Corp., a Delaware corporation (“enherent”)
unconditionally promises to pay to the order of Primesoft, LLC, place of
business at 8603 Westwood Center Drive, Suite 200, Vienna, VA 22182, (the
“Lender”), its successors or assigns (the Lender shall include the holder of
this Promissory Note (the “Promissory Note”) at any particular time), the
principal sum of One Hundred and Fifty Thousand Dollars ($150,000.00), at 4%
interest on the unpaid principal balance thereof, payable as follows: (i) Fifty
Thousand Dollars ($50,000.00) on or before April 15, 2005; (ii) Fifty Thousand
Dollars ($50,000.00) on or before April 15, 2006; and (iii) Fifty Thousand
Dollars ($50,000.00) on or before April 15, 2007.  The due date of each payment represents the date when the payment
needs to be received by Lender.

 

B.                                     The parties agree
that the monies paid under this Promissory Note represent the balance due for
the purchase by enherent of Series A Preferred Stock of enherent from Lender.

 

C.                                     enherent shall
have the right at any time to repay all or any part of the then remaining
balance of principal and then due interest.

 

D.                                    The principal and
interest represented by this Promissory Note shall be payable in immediately
available funds in lawful money of the United States which shall be legal
tender for public and private debts at the time of payment.

 

1

 

E.                                      All payments
hereunder shall be payable to the order of Lender at it’s principal address in
the United States or to such person as shall be designated in writing from time
to time by Lender.

 

2.                                      Default.     This Promissory Note shall be
in default (the “Default”) and the Lender shall have the right, in its sole
option, to accelerate the due date and declare the unpaid balance of this
Promissory Note to be immediately due and payable without presentment, notice
of dishonor, demand for payment, or protest, each of which is expressly waived
by enherent, in the event that any installment of principal of this Promissory
Note shall not have been made within 14 days of its due date.

 

3.                                      Remedies.

 

A.                                   The delay or failure
of Lender to exercise its option to accelerate this Promissory Note as provided
above, or to exercise any other option or remedy granted to Lender hereunder,
in any one or more instances, or the acceptance by Lender of partial payments
or partial performance shall not constitute a waiver of any default by enherent,
and all such options and remedies shall remain continuously in force.

 

B.                                     Acceleration of
maturity, once claimed hereunder by Lender, may at Lender’s option be rescinded
by written acknowledgment to that effect, but the tender and acceptance of partial
payment or partial performance alone shall not in any way affect or rescind
such acceleration of maturity.

 

C.                                     All remedies
granted to Lender hereunder or by law shall be deemed cumulative, including but
not limited to Lender’s sole option to obtain or place a lien on

 

2

 

enherent’s assets.  The lien
amount shall consist of the outstanding loan amount, all interest due plus any
and all fees and expenses incurred by Lender.

 

4.                                      Notice.

 

A.                                   Any notice or legal
process or summons to enherent, where provided for in this Promissory Note
shall be given by mailing such notice by certified mail, return receipt
requested, to enherent as its last known address, or at such other address
enherent may designate by written notice to Lender hereof.

 

B.                                     Any notice to the
Lender hereof shall be given by mailing such notice by certified mail, return
receipt requested, to the Lender at its last known address, or at such other
address as may have been designated by written notice to enherent.

 

5.                                      Miscellaneous.

 

A.                                   enherent hereby
represents and warrants that the indebtedness evidenced by this Promissory Note
is being obtained for business purposes.

 

B.                                     This Promissory
Note shall be binding upon enherent, and its successors and assigns and shall
inure to the benefit of Lender and its successors and assigns.

 

C.                                     Any modifications
to this Promissory Note shall be in writing and signed by Lender and enherent.

 

D.                                    This Promissory
Note is executed and delivered in and shall be governed by and construed in
accordance with the laws of Connecticut.

 

E.                                      In the event that
any particular provision contained herein is determined to be invalid, whether
in whole or in part, the remaining provisions hereof otherwise not invalid and
any partially valid provisions to the extent valid or enforceable shall
continue in full force and effect.

 

3

 

IN TESTIMONY WHEREOF,
the undersigned, with full power and authority to do so, have caused this
Promissory Note to be executed and delivered on the day and year first above
written.

 

Attested:

 

 

	
  /S/

  	
   

  	
  /S/

  	
   

  
	
  Name:

  	
  Douglas A.
  Catalano

  	
  Name:

  	
  Mahita
  Caddell

  
	
  Title:

  	
  Chairman,
  CEO and President

  	
  Title:

  	
  Director

  
						

 

 

SUBSCRIBED and sworn to before
me this 1st day of April 2004, by Douglas A. Catalano of enherent Corp.

 

 

	
   

  	
  /S/

  	
   

  
	
   

  	
  Notary
  Public in and for the State of

  
	
   

  	
  County of

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Printed
  Notary Name

  
	
  My
  commission expires:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
				

 

 

SUBSCRIBED and sworn to before
me this 1st day of April 2004, by Mahita Caddell of Primesoft, LLC.

 

	
   

  	
  /S/

  	
   

  
	
   

  	
  Notary
  Public in and for the State of

  
	
   

  	
  County of

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Printed
  Notary Name

  
	
  My
  commission expires:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
				

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]