Document:

ex10.htm

Exhibit 10.1

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

This Assignment and Assumption Agreement (this “Agreement”), is dated as of September 23, 2010 and is entered into among Goldman, Sachs & Co., a New York corporation (“Assignor”), CapGen Capital Group VI LP, a Delaware limited partnership (“CapGen”), and C12 Protium Value Opportunities Ltd., a Cayman exempted company with limited liability (“C12”, and together with CapGen, the “Assignees”).  All capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement (as defined below).

 

WHEREAS, Assignor is a party to that certain Amended and Restated Securities Purchase Agreement, dated as of August 11, 2010 (the “Purchase Agreement”), by and among Hampton Roads Bankshares, Inc., a Virginia corporation (the “Issuer”), and the Purchasers signatory thereto, including their successors and assigns, pursuant to which Assignor, as the sole Purchaser thereto, has agreed to purchase 13,750,000 shares of Common Stock, par value $0.625 per share (the “Stock”), of the Issuer, subject to the terms and conditions set forth therein;

 

WHEREAS, Assignor desires to sell and assign all of its rights, title and interests in, and obligations under, the Purchase Agreement, including any rights, title and interests in, and obligation to purchase, the Stock, to the Assignees, severally and not jointly (each, an “Assignment”);

 

WHEREAS, the Assignees, severally and not jointly, desire to accept an Assignment from the Assignor and each Assignee desires to become a Purchaser under the Purchase Agreement and to assume all of Assignor’s rights, title and interests in, and obligations under, the Purchase Agreement to the extent of its Assignment, subject to the terms hereof;

 

NOW, THEREFORE, in consideration of the foregoing, of the mutual promises set forth herein, and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Assignor and each Assignee, severally and not jointly, intending legally to be bound, hereby agree as follows:

 

1. Assignment.  For value received, Assignor hereby assigns, transfers and conveys to each Assignee, severally and not jointly, all of Assignor’s rights, title and interests in, and obligations under, the Purchase Agreement with respect to the number of shares of Stock set forth next to each Assignee’s name on Schedule A hereto (including the registration rights, as provided in Section 3.6(h) of the Purchase Agreement); provided, that each Assignee’s rights, title and interests in, and obligations under, the Purchase Agreement with respect to the Stock shall be subject to paragraphs 2 and 6 hereof.

 

2. Assumption.  Each Assignee hereby accepts, severally and not jointly, the foregoing Assignment, and assumes and agrees to perform all of the obligations of Assignor in respect of that Assignment, to become a Purchaser under the Purchase Agreement, and to perform all of its obligations thereunder, including the purchase of the number of shares of Stock allocated to such Assignee in Schedule A hereto; provided that from and after the date hereof, C12 shall have the rights, title and interests in, and obligations under, the Purchase Agreement with respect to its respective portion of the Stock as if subject to that certain Second Amended and Restated Securities Purchase Agreement, dated as of August 11, 2010, by and among the

 

  

  

  

Issuer and the purchasers signatory thereto (the “C12 Purchase Agreement”) rather than the Purchase Agreement, and CapGen shall have the rights, title and interests in, and obligations under, the Purchase Agreement with respect to its respective portion of the Stock as if subject to that certain Amended and Restated Investment Agreement, dated as of August 11, 2010, by and among the Issuer and CapGen (together with the C12 Purchase Agreement, the “Assignee Purchase Agreements”) rather than the Purchase Agreement.

 

3. Withdrawal of Assignor.  Effective as of the date of the completion of each of the Assignments, Assignor shall no longer be a Purchaser under, and as defined in, the Purchase Agreement.

 

4. Representations and Warranties of the Parties.  Each party hereto represents and warrants that (i) the execution and delivery of this Agreement by such party and the consummation by such party of the transactions contemplated hereby have been duly authorized, (ii) this Agreement has been duly executed and delivered by such party and (iii) this Agreement is a legal, valid and binding obligation of such party, enforceable against it in accordance with its terms, subject to any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors rights generally and general principles of equity (regardless of whether that enforceability is considered in a proceeding in equity or at law).

 

5. Future Cooperation.  Each of the parties hereto agrees to cooperate at all times from and after the date hereof with respect to all of the matters described herein, and to execute such further assignments, releases, assumptions, amendments, notifications and other documents as may be reasonably requested for the purpose of giving effect to, or evidencing or giving notice of, the transactions contemplated by this Agreement.

 

6. Issuer Acknowledgement and Consent.  Notwithstanding anything to the contrary, the Issuer hereby (i) acknowledges and consents to the Assignments contemplated by this Agreement as permitted assignments under the Purchase Agreement, including Sections 3.6(h)  and 6.13 thereof, (ii) acknowledges and agrees that from and after the date hereof, Assignor shall no longer be a Purchaser under, and as defined in, the Purchase Agreement, shall have no remaining rights, and is discharged of all of its obligations, under the Purchase Agreement and all of the other Transaction Documents, and (iii) acknowledges and agrees that from and after the date hereof, each Assignee shall have the rights, title and interests in, and obligations under, the Purchase Agreement with respect to its respective portion of the Stock as if subject to the terms of the applicable Assignee Purchase Agreement rather than the Purchase Agreement, with the right to purchase a number of shares of Stock equivalent to the numbers set forth opposite each Assignee’s name on Schedule A hereto.

 

7. Amendments. No amendment or waiver of any provision of this Agreement will be effective against any party hereto unless it is in a writing signed by a duly authorized officer or representative of such party that makes express reference to the provision or provisions subject to such amendment or waiver.

 

8. Binding Effect; Execution in Counterparts.  This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective permitted successors and assigns.  This Agreement may be executed in counterparts, each of which shall be

 

  

2  

  

deemed an original, but all of which shall constitute one and the same instrument.  Copies of executed counterparts transmitted by telecopy, telefax or other electronic transmission service shall be considered original executed counterparts.

 

9. Governing Law.  This Agreement shall be governed by and construed in accordance with, the laws of the State of New York.

 

[remainder of page intentionally left blank]

 

  

3  

  

IN WITNESS WHEREOF, the parties have executed this Assignment and Assumption Agreement as of the date first set forth above.

 

	  	
Assignor:

	 	 
	  	
GOLDMAN, SACHS & CO.

	 	 
	  	
By: /s/ Buck Ratchford

	  	
Name:  Buck Ratchford

	  	
Title:  Managing Director

	 	 
	  	
Assignees:

	 	 
	  	
CAPGEN CAPITAL GROUP VI LP

	 	 
	  	
By: /s/ John P. Sullivan

	  	
Name:  John P. Sullivan

	  	
Title:  Managing Director

	 	 
	  	
C12 PROTIUM VALUE OPPORTUNITIES LTD.

	 	 
	  	
By: /s/ Jasen Yang

	  	
Name:  Jasen Yang

	  	
Title:  Director

	 
	
for purposes of Sections 2 and 6 only:

	 	 
	  	
HAMPTON ROADS BANKSHARES, INC.

	 	 
	  	
By: /s/ Douglas J. Glenn

	  	
Name:  Douglas J. Glenn

	  	
Title:  Executive Vice President, General Counsel and Chief Operating Officer

  

  

  

Schedule A

 

	
Assignee:

	  	
Number of shares of Stock assigned:

	
CapGen

	  	
  3,000,000

	
C12

	  	
10,750,000

	
Total

	  	
13,750,000landmark8kex101092310.htm

 

 

Form 8-K, Exhibit 10.1

SHARE / OWNERSHIP TRANSFER AGREEMENT

This Share / Ownership Transfer Agreement (“Agreement”) is entered on this September 15, 2010 among and between 大连朗马克能源科技有限公司Dalian Landmark Energy Technology Co, Ltd (“Dalian Landmark”), a limited liability company formed under the laws of the People’s Republic of China, Te-Hung Chou  (“Owner”), who is a holder of shares or equity ownership of大连美商安科瑞能源科技有限公司Dalian Aquarius Energy Technology U.S.A..Co., Ltd (“Dalian Aquarius”), a limited liability company formed under the laws of the People’s Republic of China, Landmark Energy Enterprise Inc (“LNDG”), a Nevada corporation, and Dalian Aquarius; Dalian Landmark, Dalian Aquarius, LNDG and Owner are hereinafter collectively referred to “Parties”.

WHEREAS, Owner is a holder of the shares or equity ownership of Dalian Aquarius Energy Technology U.S.A..Co., Ltd, and

WHEREAS, Dalian Landmark desires to acquire a portion of the shares or equity ownership of Dalian Aquarius Energy Technology U.S.A..Co., Ltd from Owner for the consideration described herein;

WHEREAS, Dalian Landmark is the wholly owned subsidiary of LNDG and LNDG agrees to issue shares of its common stock to Owner as an alternative form of consideration for the equity ownership of Dalian Aquarius transferred from Owner to Dalian Landmark;

NOW, THEREFORE, in consideration of the premises and the agreements set forth herein, Parties agree as follows:

SECTION 1: SHARE OR OWNERSHIP TRANSFER

Subject to the terms and conditions of this Agreement, Owner agrees to transfer to Dalian Landmark Thirty Percent (30%), non-dilutive, of the total issued and outstanding shares (or the total equity ownership) of Dalian Aquarius (“Dalian Ownership”). Dalian Aquarius shall maintain the said Dalian Ownership non-dilutive.

SECTION 2: CONSIDERATION

In exchange for the Dalian Ownership described in Section 1, Dalian Landmark shall pay US $ 1,390,000.00 or RMB 9,424,200Yuan (“Transfer Price”) to Owner.  LNDG, the parent company of Dalian Landmark, may issue 500,000 shares of its common stock (“LNDG Shares”) to Owner as an alternative consideration for the Dalian Ownership transferred by Owner to Dalian Landmark. Upon Owner’s acceptance of LNDG Shares, Dalian Landmark is immediately relieved of the obligation to pay Transfer Price to Owner.

 

 

  

1

  

SECTION 3: REPRESENTATIONS AND WARRANTIES

(1)           Representations and Warranties of Owner.

Owner represents and warrants to Dalian Landmark as follows:

(a)           Owner has all power and authority to execute, deliver and perform this Agreement.

(b)           Owner is the record and beneficial owner of the Dalian Ownership acquired by Dalian Landmark and the Dalian Ownership exchanged pursuant to this agreement have not been assigned, pledged, sold, transferred or otherwise conveyed.

(c)           This Agreement is the valid and binding obligation of Owner, enforceable against Owner in accordance with its terms.

(d)           Owner represents and warrants that the Owner has complied with all applicable statutes, rules and regulations pertaining to the transfer of the Dalian Ownership and that, to the best of the knowledge and belief of the Owner, such transfer complies with applicable statutes, rules and regulations.

(2)           Representations and Warranties of Dalian Landmark.

Dalian Landmark represents and warrants to Owner as follows:

(a)           Dalian Landmark has all power and authority to execute, deliver and perform this Agreement.

(b)           This Agreement is the valid and binding obligation of Dalian Landmark, enforceable against Dalian Landmark in accordance with its terms.

 

SECTION 4: MISCELLANEOUS

(1) Governing Law; Successors and Assigns.  This Agreement shall be governed and construed in accordance with the law of the People’s Republic of China and shall be binding upon the heirs, personal representatives, executors, administrators, successors and assigns of the parties

(2) Entire Agreement.  This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes and replaces any prior agreement or understanding.

(3) Headings.  The headings of the Sections of this Agreement are for convenience and shall not by themselves determine the interpretation of this Agreement.

(4) Counterparts.  This Agreement may be executed in any number of counterpart copies, all of which copies shall constitute one and the same instrument.

 

 

  

2

  

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement as of the date first above written.

大连朗马克能源科技有限公司

Dalian Landmark Energy Technology Co, Ltd

By: /s/ Yidian Dong

Yidian Dong, Genera Manager

Owner

By:/s/ Te-Hung Chou

Te-Hung Chou

大连美商安科瑞能源科技有限公司

Dalian Aquarius Energy Technology U.S.A..Co., Ltd

By:/s/ Te-Hung Chou

Te-Hung Chou, General Manager

Landmark Energy Enterprise Inc

By:/s/ Yidian Dong

Yidian Dong, Director, Chief Financial Officer

 

 

  

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]