Document:

exv4w6

Exhibit 4.6

CERNER CORPORATION

2001 ASSOCIATE STOCK PURCHASE PLAN

(AMENDED AND RESTATED MARCH 1, 2010 AND MAY 27, 2011)

SECTION 1. PURPOSE OF PLAN

The Cerner Corporation 2001 Associate Stock Purchase Plan (the “Plan”) is designed to encourage and
assist associates of Cerner Corporation (“Cerner” or “Company”), including all associates of Cerner
U.S. based subsidiaries, to acquire an equity interest in Cerner through the purchase of shares of
Cerner common stock, par value $.01 per share (“Common Stock”). This Plan is intended to constitute
an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code
(the “Code”).

SECTION 2. ADMINISTRATION OF THE PLAN

The Plan shall be administered by Cerner’s Board of Directors (the “Board”) or by a committee of
the Board (the “Committee”) appointed by the Board and serving at its pleasure (the Board or any
such Committee being herein referred to as the “Administrator”). Until such time as the Board shall
determine otherwise, the Compensation Committee of the Board shall serve as Administrator. The
Administrator shall have full power and authority, not inconsistent with the express provisions of
the Plan, to administer and interpret the Plan, including the authority to:

	 	(i)	 	grant options and authorize the issuance of shares;
	 
	 	(ii)	 	make and amend all rules, regulations, guidelines, procedures and
policies for administering the Plan;
	 
	 	(iii)	 	decide all questions and settle all disputes that may arise in
connection with the Plan;
	 
	 	(iv)	 	appoint persons and entities to act as designated representatives
on the Administrator’s behalf in administering the Plan pursuant to its
provisions (in which case the term “Administrator” as used herein shall include
such persons or entities to the extent of such appointment);
	 
	 	(v)	 	establish accounts with a person or entity appointed pursuant to
(iv) above (“Custodian”) to hold Common Stock purchased under the Plan (“Stock
Account”);
	 
	 	(vi)	 	cause Cerner to enter into a written agreement with the Custodian
setting forth the terms and conditions upon which Stock Accounts shall be
governed (“Custodial Agreement”); and
	 
	 	(vii)	 	require Participants to hold shares of Common Stock under the Plan
in Stock Accounts (in which case each Participant’s decision to participate in
the Plan shall constitute the appointment of such Custodian as custodial agent
for the purpose of holding such shares) until such time as shall be specified in
the Custodial Agreement.

All interpretations, decisions and determinations made by the Administrator shall be binding on all
persons concerned.

SECTION 3. NATURE AND NUMBER OF SHARES

The Common Stock subject to issuance under the terms of the Plan shall be authorized but unissued
shares or previously issued shares reacquired and held by the Company. The aggregate number of
shares that may be issued under the Plan shall not exceed 4,000,000 shares of Common Stock.

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In the event of any reorganization, recapitalization, stock split, reverse stock split, stock
dividend, combination of shares, exchange of shares, merger, consolidation, offering of rights or
other similar change in the capital structure of the Company, the Board or the Committee may make
such adjustment, if any, as it deems appropriate in the number, kind and purchase price of the
shares available for purchase under the Plan and in the maximum number of shares which may be
issued under the Plan.

SECTION 4. ELIGIBILITY

Each individual employed by Cerner, including associates employed by its U.S. based subsidiaries
(“Associate”), except as provided below, shall be eligible to participate in the Plan. The
following individuals shall be excluded from participation:

     (a) Persons who, as of the date of grant of an Option, have been continuously employed by
Cerner for less than two (2) weeks;

     (b) Persons who, immediately upon the grant of an Option, own directly or indirectly, or hold
options or rights to acquire under any agreement or Company plan, an aggregate of five percent (5%)
or more of the total combined voting power or value of all outstanding shares of all classes of
Cerner Common Stock; and

     (c) Persons who are customarily employed by the Company for less than twenty (20) hours per
week or for not more than five (5) months in any calendar year.

SECTION 5. ENROLLMENT AND WITHDRAWAL

Each eligible Associate may enroll or re-enroll in the Plan as of the first day of any Option
Period (as hereinafter defined) after the Associate first becomes eligible to participate. To
enroll, an Associate must properly complete an enrollment form (including a payroll deduction
authorization) in a form and manner acceptable to the Administrator and submit it to the Company,
or use such other means to enroll as is authorized by the Administrator, within the time period
before the commencement of such Option Period as the Administrator may prescribe. Participation in
the Plan is voluntary. A “Participant” shall be an Associate enrolled in the Plan.

A Participant will automatically be enrolled in all future Option Periods unless the Participant
withdraws from the Plan. If a Participant withdraws from the Plan, he or she will cease to be a
Participant and may only participate in future Option Periods if he or she re-enrolls in the Plan.
Any Participant may withdraw from the Plan by notifying the Company in writing, via electronic
designation on the third party administrator’s website, or any other manner permitted by the
Administrator during the Option Period provided that such notification is at least three (3)
business days prior to the Purchase Date (as defined below). Upon such a withdrawal, the entire
amount contributed to the Plan by the Participant (and not yet used to purchase Common Stock) will
be refunded without interest as soon as administratively practicable. In the event that a
Participant notifies the Company within the three (3) day period prior to the Purchase Date, the
Participant will be withdrawn from participating in the next following Option Period.

SECTION 6. GRANT OF OPTIONS

Unless changed by the Board or the Committee, the Plan will be implemented by four (4) annual
offerings of the Company’s Common Stock each calendar year (the “Option Periods”). In each year
that the Plan is in effect, the first Option Period will begin on January 1 and end on March 31,
the second Option Period will begin on April 1 and end on June 30, the third Option Period will
begin on July 1 and end on September 30, and the fourth Option Period will begin on October 1 and
end on December 31.

Each person who is a Participant on the first day of an Option Period (the “Grant Date”) will as of
such day be granted an option for the Option Period (the “Option”). Such Option will be for the
purchase of a maximum number of shares of

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Common Stock to be determined by dividing (i) the balance credited to the Participant’s Payment
Account (as defined in Section 7(b)) during such Option Period by means of payroll deduction (or
such other means deemed acceptable by the Administrator) as of the Purchase Date (as determined
under Section 8 below), by (ii) the purchase price per share of the Common Stock as determined
under Section 8.

In no event shall a Participant be entitled to purchase, for any Option Period, more than the
lesser of (i) the number of shares obtained by dividing $25,000 by the fair market value of a share
of Common Stock on the Grant Date for such Option Period, or (ii) the maximum number of shares
permitted to be purchased under Section 7(c) below.

The Administrator will reduce, on a substantially proportionate basis, the number of shares of
Common Stock receivable by each Participant upon exercise of his or her Option for an Option Period
in the event that the number of shares then available under the Plan is otherwise insufficient, and
will return to Participant without interest any remaining unused balance in the Participant’s
Payment Account as soon as administratively practicable.

SECTION 7. METHOD OF PAYMENT

     (a) Form of Payment. Payment for shares shall be made in installments through
after-tax payroll deductions during the Option Period, with such deductions taken from pay periods
paid during the Option Period, or in such other form of payment deemed acceptable by the
Administrator.

     Subject to Section 18 and to the limits below and in Section 8, each Participant may elect
through payroll withholding during the Option Period (or such other means deemed acceptable by the
Company) to have credited to his or her Payment Account an amount not less than one percent (1%)
and not greater than twenty percent (20%) of Compensation (as defined below); provided that the
Administrator from time to time before an enrollment date may establish limits other than those
herein described for all purchases to occur during the relevant Option Period.

     For purposes of the Plan, “Compensation” shall mean all compensation paid to the Participant
by the Company and currently includible in his or her income, including variable compensation (such
as commissions, bonuses or other short-term incentive payments), overtime, and other amounts
includible in the general definition of compensation provided in Treasury Regulation
§1.415-2(d)(1), plus any amount that would be so included but for the fact that it was contributed
to (a) a qualified plan pursuant to an elective deferral under Section 401(k) of the Code, (b) a
nonqualified deferred compensation plan, and/or (c) a cafeteria plan on a before-tax basis pursuant
to an election under Section 125 of the Code, but not including (i) payments under stock option
plans (including any amount of income recognized upon the exercise of a stock option) and other
employee benefit plans or other amounts excluded from the definition of compensation provided in
the Treasury Regulations under Section 415 of the Code, and (ii) reimbursements or other expense
allowances, fringe benefits (cash and noncash), moving expenses, payments of benefits under
nonqualified deferred compensation plans, and welfare benefits.

     A Participant may decrease the rate of withholding on a prospective basis effective as to
future pay periods within an Option Period by giving written or electronic notice (in a form
acceptable to the Administrator) to the Company not less than two (2) weeks prior to the desired
effective date of such decrease. During the applicable enrollment period before an upcoming Option
Period, a Participant may increase the rate of withholding by giving written or electronic notice
(in a form acceptable to the Administrator) to the Company during such enrollment period; provided,
however, that such an increase in withholding shall be effective for the upcoming future Option
Period(s) only.

     (b) Accounts. A “Payment Account” means the book entry account maintained by the Company
or Administrator to record the amount of Participant’s payments made pursuant to Section 7(a) and
any cash amount carried forward from an Option Period to the Grant Date for the next Option Period
pursuant to Section 9. All payments by each Participant shall be credited to such Participant’s
Payment Account pending the purchase of Common Stock in accordance with the provisions of the Plan.
All such amounts in the Payment Account shall be assets of the Company and may be

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used by the Company for any corporate purpose. No interest will be paid on amounts credited to a
Participant’s Payment Account.

     (c) Limits on Purchase. In no event shall the rights of any Participant to purchase
shares (under this Plan and under any other stock purchase plans of Cerner which are intended to
qualify under Section 423 of the Code) accrue at a rate that exceeds $25,000 per calendar year as
measured by the fair market value of such shares (determined in the case of each such share as of
the Grant Date of the related Option). For purposes of administering this accrual limitation, the
Administrator shall limit purchases under the Plan as follows:

     (i) The number of shares which may be purchasable by a Participant during his or her
first Option Period during a calendar year may not exceed a number of shares determined by
dividing $25,000 by the Fair Market Value of a Share on the Grant Date for that Option
Period.

     (ii) The number of shares which may be purchasable by a Participant during any
subsequent Option Period during the same calendar year (if any) shall not exceed the
number of Shares determined by performing the calculation below:

     (A) First, for each previous Option Period during the same calendar year,
the number of Shares purchased by the Participant during such previous Option Period
shall be multiplied by the Fair Market Value of a Share on the respective Grant Date
for such same previous Option Period.

     (B) Second, the sum of all amounts calculated under (A) above (for all Option
Periods) shall be calculated.

     (C) Third, the amount determined under (B) above shall be subtracted from
$25,000.

     (D) Fourth, the amount determined under (C) above shall be divided by the Fair
Market Value of a Share on the Grant Date for such subsequent Option Period (for which
the maximum number of Shares purchasable is being determined by this calculation)
occurs. The quotient thus obtained shall be the maximum number of Shares which may be
purchased by any Participant for such subsequent Option Period.

SECTION 8. PURCHASE PRICE

The purchase price of Common Stock issued pursuant to the exercise of an Option shall be
eighty-five (85%) of the fair market value of Common Stock on the last trading day of the Option
Period (the “Purchase Date”).

Fair market value shall mean the closing price of Common Stock as reported on the Nasdaq Stock
Market or other national securities exchange on which the Common Stock is then principally traded
or, if that measure of price is not available, on a composite index of such exchanges or, if that
measure of price is not available, in a national market system for securities. In the event that
there are no sales of Common Stock on any such exchange or market on the Purchase Date, the fair
market value of the Common Stock shall be deemed to be the closing sales price on the next
preceding day on which Common Stock is sold on any such exchange or market. In the event that the
Common Stock is not listed on any such market or exchange on the Purchase Date, a reasonable
valuation of the fair market value of the Common Stock on such dates shall be made by the
Administrator.

SECTION 9. AUTOMATIC EXERCISE OF OPTIONS; STOCK TRANSFER RESTRICTIONS

If an Associate is a Participant in the Plan on a Purchase Date, he or she will be deemed to have
exercised the Option granted to him or her for the period ending on that Purchase Date. Upon such
exercise, the Company will apply the balance of the Participant’s Payment Account to the purchase
of the number of whole shares of Common Stock

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determined under Section 6 and, as soon as practicable thereafter, will issue and deliver said
whole shares to the Participant (unless Stock Accounts are established by the Administrator
pursuant to Section 2 of the Plan). Any cash remaining in the Participant’s Payment Account shall
either be carried forward to the next Grant Date (without interest) and become a part of the
Payment Account for the Option Period to which such next Grant Date applies, or, upon written
request of the Participant to the Administrator, be paid to Participant without interest (unless
Stock Accounts are established by the Administrator pursuant to Section 2 of the Plan).

Notwithstanding anything herein to the contrary, Cerner’s obligation to issue and deliver whole
shares of Common Stock under the Plan will be subject to the approval required by any governmental
authority in connection with the authorization, issuance, sale or transfer of said shares, to any
requirements of any national securities exchange applicable thereto, and to compliance by Cerner
with other applicable legal requirements in effect from time to time.

This Plan is intended to satisfy the requirements of Section 423 of the Code. A Participant will
not obtain the benefits of this provision of the Code if such Participant disposes of shares of
Common Stock acquired pursuant to the Plan within two (2) years from the Grant Date or within one
(1) year from the date such Common Stock is purchased by the Participant, whichever is later.

Additionally, any shares of Common Stock issued under the Plan may not be sold, transferred or
assigned for a period of one (1) year after the date issued. Each certificate representing shares
of Common Stock issued under this Plan during such one (1) year period shall bear the following
legend:

“The Shares represented by this certificate may not be sold, transferred or assigned,
and the issuer shall not be required to give effect to any attempted sale, transfer or
assignment, until a date that is more than one (1) year after the date of issuance of
this certificate.”;

or such other legend as shall be approved by the Administrator.

SECTION 10. TERMINATION OF EMPLOYMENT

Subject to Section 11, upon the termination of a Participant’s employment with the Company for any
reason, the Participant’s Payment Account balance shall be frozen to future accruals and the
Participant shall be withdrawn from Plan participation and cease to be a Participant. Upon the
cessation of participation, any Option held by the Participant under the Plan shall be treated as
follows: (i) the Participant may give written notice to the Administrator within three (3) business
days after the Participant’s termination (so long as there is at least three (3) business days
remaining before the Purchase Date) of his/her desire to cancel his/her Option under the Plan, in
which case the Participant’s Payment Account balance will be returned to Participant; or, (ii) if
no such notice is received by Participant, or if there are less than three (3) business days
remaining before the Purchase Date when the written request is made, then the Option will be
exercised on the next Purchase Date. In the case of death of the Participant, the Participant’s
Payment Account shall be refunded in accordance with Section 11, without interest, as soon as
administratively practicable and the Participant will have no further rights under the Plan.

SECTION 11. DEATH OF A PARTICIPANT

As soon as administratively feasible after the death of a Participant, any Common Stock and/or cash
credited to the Participant under the Plan shall be delivered to the Participant’s executor,
administrator or other legal representative of the Participant’s estate. Such delivery and payment
shall relieve the Company of further liability to the deceased Participant or his/her estate with
respect to the Plan.

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SECTION 12. ASSIGNMENT

Except as provided in Section 11 above, a Participant’s Option, funds, securities, rights or other
property held for the account of a Participant shall not be sold, pledged, assigned, transferred,
or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to
sale under execution, attachment, or similar process. Any attempted sale, pledge, assignment,
transfer, hypothecation or other disposition of an Option, or levy of attachment or similar process
upon the Option not specifically permitted herein shall be null and void and without effect. A
Participant’s right to purchase shares under the Plan shall be exercisable during the Participant’s
lifetime only by the Participant. If this provision is violated, the Participant’s election to
purchase Common Stock shall terminate and the only obligation of the Company remaining under the
Plan will be to refund to the Participant the amount then credited to his or her Payment Account
and deliver to Participant any whole shares of Common Stock credited to him or her under any Stock
Account.

SECTION 13. DISSOLUTION, MERGER AND CONSOLIDATION

Upon the dissolution or liquidation of the Company, or upon a merger or consolidation of the
Company in which the Company is not the surviving corporation, each Option granted hereunder shall
expire as of the effective date of such transaction; provided, however, that the Administrator
shall give at least 30 days’ written notice of such event to each Participant during which time he
or she shall have a right to exercise his or her wholly or partially unexercised Option and,
subject to earlier exercise pursuant to Section 9, each Option shall be exercisable after receipt
of such written notice and prior to the effective date of such transaction.

SECTION 14. EQUAL RIGHTS AND PRIVILEGES

All eligible Associates shall have equal rights and privileges with respect to the Plan so that the
Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 or any
successor provisions of the Code and related regulations. Any provision of the Plan that is
inconsistent with Section 423 or any successor provision of the Code shall without further act of
amendment by the Company be reformed to comply with the requirements of Section 423. This Section
14 shall take precedence over all other provisions of the Plan.

SECTION 15. RIGHTS AS STOCKHOLDER

A Participant shall have no rights as a stockholder under an Option until he or she becomes a
stockholder as herein provided. A Participant will become a stockholder with respect to shares for
which payment has been completed as provided in Section 8 as of the close of business on the
Purchase Date for the Option Period.

SECTION 16. MODIFICATION AND TERMINATION OF THE PLAN

The Board or the Committee may terminate the Plan at any time. The Board, the Committee or one of
its appointed delegates may at any time and from time to time amend the Plan in any manner
permitted by law. No amendment shall be effective unless within one (1) year after it is adopted,
the amendment is approved by Cerner’s shareholders in the manner prescribed under the Treasury
Regulations under Section 423 of the Code, if such amendment would:

	 	(i)	 	increase the number of shares reserved for purchase under the Plan,
unless such increase is by reason of any change in the capital structure of the
Company referred to in Section 3 hereof;
	 
	 	(ii)	 	change the designation of corporations or other entities whose employees
may be offered Options under the Plan, except as permitted under Treasury
Regulations §1.423-2(c)(4);
	 
	 	(iii)	 	materially modify the requirements as to eligibility for participation
in the Plan; or

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	 	(iv)	 	materially increase the benefits accruing to Participants under the Plan.

In the event the Plan is terminated, the Board or Committee may elect to terminate all outstanding
Options either immediately or upon completion of the purchase of shares on the next Purchase Date,
unless the Board has determined that the right to make all such purchases shall expire on some
other designated date occurring prior to the next Purchase Date. If Options are terminated prior to
expiration, all funds contributed to the Plan that have not been used to purchase shares shall be
returned without interest to the Participants.

SECTION 17. BOARD AND SHAREHOLDER APPROVAL; EFFECTIVE DATE

This Plan was adopted by the Board on March 9, 2001. The Effective Date of the Plan is May 25,
2001, which was the date this Plan was approved by the shareholders of Cerner Corporation.

SECTION 18. RETIREMENT PLAN HARDSHIP DISTRIBUTIONS

In the event that a Participant has received a hardship distribution under the Cerner Corporation
Foundations Retirement Plan, such Participant shall be prohibited from making payments under
Section 7 of this Plan for a period of at least six (6) months (or, if the applicable required
suspension period under the applicable 401(k) laws relating to hardship distributions from
qualified 401(k) plans require a longer or shorter suspension period, such shorter or longer
period) after the Participant’s receipt of the hardship distribution,.

SECTION 19. OTHER PROVISIONS

Options and other documentation under the Plan shall contain such other provisions as the
Administrator shall deem advisable, provided that no such provision shall conflict with the express
terms of the Plan.

SECTION 20. USE OF FUNDS

All payroll deductions received or held by the Company under the Plan may be used by the Company
for any corporate purpose. The Company shall not be obligated to segregate such payroll
deductions.

SECTION 21. ERISA

This Plan is not subject to the provisions of the Employee Retirement Income Security Act of 1974.

SECTION 22. EFFECT OF PLAN

The Provisions of the Plan shall, in accordance with its terms, be binding upon, and inure to the
benefit of, all successors of each Associate participating in the Plan, including, without
limitation, such Associate’s estate and the executors, administrators or trustees thereof, heirs
and legatees, and any receiver, trustee in bankruptcy or representative of creditors of such
Associate.

SECTION 23. WITHHOLDING TAXES

Upon the exercise of any Option under the Plan, the Company shall have the right to require the
Associate to remit to the Company an amount sufficient to satisfy all federal, state and local
withholding tax requirements prior to the delivery of any certificate or certificates for shares of
Common Stock.

SECTION 24. EMPLOYMENT RIGHTS

Nothing contained in the provisions of the Plan shall be construed to give to any individual the
right to be retained in the employ of the Company or to interfere with the right of the Company to
discharge any Associate at any time.

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SECTION 25. GOVERNING LAW

The Law of the State of Missouri will govern all matters relating to this Plan except to the extent
superseded by the federal laws of the United States.

31exv10wd

Exhibit 10(d)

STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT (the “Agreement”) is effective as of March 1, 2011 (the
“Effective Date”), between VIDEO DISPLAY CORPORATION, a Georgia corporation (“Seller”), and FI
ACQUISITION LLC, a Georgia limited liability company (“Purchaser”).

     WHEREAS, Seller owns all of the outstanding capital stock (the “Fox Shares”) of Fox
International Ltd., Inc., an Ohio corporation (“Fox”); and

     WHEREAS, Seller wishes to sell to Purchaser, and Purchaser wishes to purchase from Seller, all
of the Fox Shares, on the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the premises and mutual covenants and conditions contained
in this Agreement and other good and valuable consideration, the receipt, adequacy and sufficiency
of which are hereby acknowledged, the parties agree as follows:

     1. Purchase and Sale of Fox Shares. Seller hereby agrees to sell to Purchaser, and
Purchaser hereby agrees to purchase from Seller, the Fox Shares on the terms and conditions
hereinafter set forth.

     2. Purchase Price and Payment. The total purchase price for the Fox Shares (the
“Purchase Price”) shall be equal to Three Million Five Hundred Twenty-Three Thousand Eight Hundred
Seventy-Seven Dollars ($3,523,877). The Purchase Price shall consist of: (a) Eight Hundred
Thousand (800,000) shares of Seller’s common stock, no par value (the “VDC Shares”), with a value
of Three Million Two Hundred Seventy-Two Thousand Dollars ($3,272,000), based on the February 22,
2011 closing price of $4.09 per share, as quoted on NASDAQ; and (b) Two Hundred Fifty-One Thousand
Eight Hundred Seventy-Seven Dollars ($251,877) payable in cash or other immediately available funds
(the “Cash Payment”). The Purchase Price is equal to the net book value shown on the February 28,
2011 audited financial statements of Fox, which indicate total assets of $6,408,589 and liabilities
not exceeding $2,884,712, as set forth more fully on attached Exhibit A.

     3. Closing. The transfer of ownership of the Fox Shares and payment of the Purchase
Price shall be deemed to take place for accounting purposes on March 1, 2011, to coincide with the
start of the fiscal year of Seller. As soon as practicable after the Effective Date, Purchaser
shall promptly deliver to Seller the Cash Payment and all certificates representing the VDC Shares,
and Seller shall promptly deliver to Purchaser all certificates representing the Fox Shares, in
each case duly endorsed in blank or accompanied by a duly executed stock transfer power.

     4. Profit Participation. For a period of sixty (60) days after the Effective Date
(the “Profit Participation Period”), Seller shall be entitled to one-half (1/2) of all net profits
from any sale by Purchaser of all or substantially all of the assets or stock of Fox, provided that
such sale must be consummated within the Profit Participation Period.

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

 

 

          (a) Standing. Seller is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Georgia. Seller is duly authorized to conduct business and
is in good standing under the laws of each jurisdiction where such qualification is required.

          (b) Authorization. Seller has the right, power and authority to execute, deliver and
perform this Agreement and to consummate the transactions contemplated herein. The execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated
herein have been duly and validly authorized by all necessary corporate action on the part of
Seller. This Agreement is, and any other documents and instruments required hereby will be, when
executed and delivered by the parties, the legal, valid and binding obligations of Seller,
enforceable against Seller in accordance with their respective terms.

          (c) Fox Shares Valid. The Fox Shares are and shall be validly issued, fully paid and
non-assessable and constitute all of the issued and outstanding equity interests of Fox. Without
limiting the generality of the foregoing, all of the formerly issued and outstanding shares of Fox
International Limited, Inc., an Ohio corporation, have been duly canceled.

          (d) Ownership of Fox Shares. Seller is the owner of the Fox Shares free and clear of
all liens, charges, claims, encumbrances and restrictions; Seller has full power to transfer the
Fox Shares to Purchaser; and Seller has obtained all necessary approvals and consents to effectuate
the sale of the Fox Shares to Purchaser.

          (e) No Violation. The execution and performance of this Agreement do not violate,
result in the breach of, or constitute a default under any applicable law or regulation, the
Articles of Incorporation or Bylaws of Seller, or any order, judgment or decree of any court or
governmental agency.

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

          (a) Standing. Purchaser is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Georgia. Purchaser is duly authorized
to conduct business and is in good standing under the laws of each jurisdiction where such
qualification is required.

          (b) Authorization. Purchaser has the right, power and authority to execute, deliver
and perform this Agreement and to consummate the transactions contemplated herein. The execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated
herein have been duly and validly authorized by all necessary corporate action on the part of
Purchaser. This Agreement is, and any other documents and instruments required hereby will be,
when executed and delivered by the parties, the legal, valid and binding obligations of Purchaser,
enforceable against Purchaser in accordance with their respective terms.

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          (c) Restrictions on Transferability. Purchaser agrees that any certificate
representing the Fox Shares, and any replacement certificate therefor, will bear a restrictive
legend on the reverse of the certificate in substantially the following form:

The securities represented by this certificate have not been
registered under the Securities Act of 1933, as amended (the “Act”),
or any applicable state securities laws. The securities may not be
sold, transferred or assigned in the absence of an effective
registration statement for the securities under the Act or
applicable state securities laws, or an opinion of counsel,
satisfactory in form, substance and scope to the issuer of the
securities, that registration is not required under the Act or
applicable state securities laws.

          (d) No Violation. The execution and performance of this Agreement do not violate,
result in the breach of, or constitute a default under any applicable law or regulation, the
Articles of Organization or Operating Agreement of Purchaser, or any order, judgment or decree of
any court or governmental agency.

          (e) Due Diligence Inspection. Purchaser has had full and complete access to all
material financial, operating and legal information concerning the business and operations of Fox,
and is purchasing the Fox Shares with knowledge of all such material information. Purchaser agrees
to not assert any claim of any nature whatsoever, including claims of fraud, that Purchaser may
have against Seller if Purchaser suffers any adverse consequence, whether monetary or otherwise, as
a result of the transactions contemplated herein.

     7. Indemnification.

          (a) Survival. All representations, warranties, agreements, covenants and obligations
made or undertaken by each party in this Agreement or in any document or instrument executed and
delivered pursuant hereto are material, have been relied upon by the other party and shall survive
the consummation of the transactions contemplated in this Agreement.

          (b) Agreement to Indemnify. Each party (for purposes of this Section, the
“Indemnitor”) agrees to indemnify and hold the other party, its successors and assigns
(collectively, the “Indemnitee”), harmless from and against all liability, loss, damage, claim or
expense of any kind whatsoever (including reasonable attorneys’ fees and costs) that may be
sustained, suffered, or incurred by the Indemnitee that arises from or is in any way connected
with: (i) any misrepresentation by the Indemnitor contained in this Agreement or in any document or
instrument executed and delivered pursuant hereto, or any misrepresentation in or omission from any
instrument furnished or to be furnished by the Indemnitor hereunder; and (ii) the breach of any
representation, warranty and/or covenant made by the Indemnitor in this Agreement or any other
agreement delivered in connection with this transaction.

     8. General.

          (a) Assignment. This Agreement may not be assigned by either party without the prior
written consent of the other party.

3

 

          (b) Notices. All communications and notices required or permitted under this
Agreement shall be in writing and shall be deemed to have been given when delivered personally or
by messenger or by overnight delivery service, or when mailed by certified United States mail,
postage prepaid, return receipt requested, addressed as follows:

	 	 	 	 	 

	 

	 	If to Seller:
	 	Video Display Corporation
	 

	 	 	 	1868 Tucker Industrial Drive
	 

	 	 	 	Tucker, Georgia 30084
	 

	 	 	 	Attn: Greg Osborne
	 
	 

	 	If to Purchaser:
	 	FI Acquisition LLC
	 

	 	 	 	1868 Tucker Industrial Drive
	 

	 	 	 	Tucker, Georgia 30084
	 

	 	 	 	Attn: Ronald D. Ordway

or to such other address as a party designates by notice in writing to the other party in the
manner provided by this Section.

          (c) Governing Law. This Agreement shall be construed and governed by the substantive
laws of the State of Georgia, without regard to conflicts of law principles.

          (d) Amendments. This Agreement may only be amended or modified by a writing executed
by all of the parties.

          (e) Further Action. The parties shall execute and deliver all documents, provide all
information and take or refrain from taking action as may be necessary or appropriate to achieve
the purposes of this Agreement.

          (f) Severability. The invalidity or unenforceability of any provision of this
Agreement shall not affect the other provisions, and this Agreement is to be construed in all
respects as if it had not contained the invalid or unenforceable provision.

          (g) Binding Agreement. Subject to the restrictions on transferability set forth in
this Agreement, this Agreement shall be binding upon and shall inure to the benefit of the parties
and their respective legal representatives, heirs, successors and assigns.

          (h) Headings; Gender; Number. The headings and captions in this Agreement are for
convenience and identification purposes only, are not an integral part of this Agreement, and are
not to be considered in the interpretation of any part of this Agreement. When the context so
requires, the masculine, feminine and neuter genders may be used interchangeably and the singular
may include the plural and vice versa.

          (i) Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original but all of which taken together shall constitute one and the same
instrument. Facsimile and electronic executions and deliveries shall have the full force and
effect of original signatures.

4

 

     IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the Effective
Date.

	 	 	 	 	 
	 	SELLER:

Video Display Corporation

 	 
	 	By:  	 	 
	 	 	Its: 	 
	 	 	 	 
	 
	 	PURCHASER:

FI Acquisition LLC

 	 
	 	By:  	 	 
	 	 	Ronald D. Ordway, Manager 	 
	 	 	 	 
	 

5

 

Exhibit A

Purchase Price Calculation

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Excl InterComp	 	 	Mgnt Bid	 	 	Mgnt Bid	 	 	 	 	 	 	Mgnt Bid	 
	 	 	10th	 	 	10th	 	 	10th	 	 	11th	 	 	12th	 	 	12th	 
	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 
	 	 	 
	ASSETS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Cash
	 	 	406,122	 	 	 	406,122	 	 	 	406,122	 	 	 	67,766	 	 	 	(5,784	)	 	 	(5,784	)
	Accounts Receivable
	 	 	1,378,394	 	 	 	1,378,394	 	 	 	1,378,394	 	 	 	1,298,068	 	 	 	1,143,405	 	 	 	1,143,405	 
	Intercompany Trade Rec.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Reserve for A/R
	 	 	(26,000	)	 	 	(26,000	)	 	 	(500,000	)	 	 	(500,000	)	 	 	(342,000	)	 	 	(342,000	)
	Inventory
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Raw Materials
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Work in Process
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Finished Goods
	 	 	6,210,673	 	 	 	6,210,673	 	 	 	6,210,673	 	 	 	6,153,422	 	 	 	5,954,471	 	 	 	5,954,471	 
	Reserve for Inventory
	 	 	(1,769,496	)	 	 	(1,769,496	)	 	 	(3,269,496	)	 	 	(2,809,498	)	 	 	(1,674,662	)	 	 	(1,674,662	)
	Cost in Excess of Billings
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Prepaid expenses
	 	 	160,909	 	 	 	160,909	 	 	 	160,909	 	 	 	184,261	 	 	 	125,932	 	 	 	125,932	 
	Income taxes refundable
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 
	Total Current Assets
	 	 	6,360,603	 	 	 	6,360,603	 	 	 	4,386,602	 	 	 	4,394,019	 	 	 	5,201,362	 	 	 	5,201,362	 
	Property, Plant & Equipment
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Land
	 	 	249,814	 	 	 	249,814	 	 	 	150,000	 	 	 	150,000	 	 	 	249,814	 	 	 	150,000	 
	Buildings
	 	 	1,974,831	 	 	 	1,974,831	 	 	 	900,000	 	 	 	900,000	 	 	 	1,977,331	 	 	 	900,000	 
	Machinery & Equipment
	 	 	5,674,665	 	 	 	5,674,665	 	 	 	300,000	 	 	 	800,000	 	 	 	5,705,700	 	 	 	134,397	 
	 	 	 
	 
	 	 	7,899,310	 	 	 	7,899,310	 	 	 	1,350,000	 	 	 	1,850,000	 	 	 	7,932,845	 	 	 	1,184,397	 
	Less Accumulated
Depreciation
	 	 	(6,692,415	)	 	 	(6,692,415	)	 	 	0	 	 	 	0	 	 	 	(6,748,448	)	 	 	0	 
	 	 	 
	 
	 	 	1,206,895	 	 	 	1,206,895	 	 	 	1,350,000	 	 	 	1,850,000	 	 	 	1,184,397	 	 	 	1,184,397	 
	Investments
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	Goodwill
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	Intangibles
	 	 	0	 	 	 	0	 	 	 	1,830,895	 	 	 	832,616	 	 	 	 	 	 	 	 	 
	Other Assets
	 	 	22,830	 	 	 	22,830	 	 	 	22,830	 	 	 	22,830	 	 	 	22,830	 	 	 	22,830	 
	Intercompany inv / adv
	 	 	(4,994,028	)	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	Intercompany rec / pay
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 
	Total Assets
	 	 	2,596,299	 	 	 	7,590,327	 	 	 	7,590,327	 	 	 	7,099,465	 	 	 	6,408,589	 	 	 	6,408,589	 
	 	 	 

A-1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Excl InterComp	 	 	Mgnt Bid	 	 	Mgnt Bid	 	 	 	 	 	 	Mgnt Bid	 
	 	 	10th	 	 	10th	 	 	10th	 	 	11th	 	 	12th	 	 	12th	 
	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 	 	Period	 
	 	 	 
	LIABILITIES
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Accounts payable
	 	 	2,263,851	 	 	 	2,263,851	 	 	 	2,263,851	 	 	 	1,896,021	 	 	 	1,656,509	 	 	 	1,656,509	 
	Intercompany Trade Pay
	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	Accrued liabilities
	 	 	512,962	 	 	 	512,962	 	 	 	512,962	 	 	 	527,392	 	 	 	578,711	 	 	 	578,711	 
	Billings in excess of cost
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0	 
	Current Lines of Credit
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0	 
	Notes payable to officers
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0	 
	Income taxes payable
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0	 
	Current portion of L/T debt
	 	 	202,478	 	 	 	202,478	 	 	 	202,478	 	 	 	215,116	 	 	 	199,118	 	 	 	199,118	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	 	 	 	 	 	 	 	 	 	 
	Total current liabilities
	 	 	2,979,292	 	 	 	2,979,292	 	 	 	2,979,292	 	 	 	2,638,529	 	 	 	 	 	 	 	2,434,338	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	Line of credit — #1
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	0	 
	L/T Debt — #1
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	L/T Debt — #2
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	L/T Debt — #3, etc.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 
	Financing lease obligation
	 	 	217,218	 	 	 	217,218	 	 	 	217,218	 	 	 	213,972	 	 	 	187,479	 	 	 	187,479	 
	Note payable to officer
	 	 	276,966	 	 	 	276,966	 	 	 	276,966	 	 	 	240,437	 	 	 	262,895	 	 	 	262,895	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Liabilities
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	3,092,938	 	 	 	2,884,712	 	 	 	2,884,712       	(a)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Minority interest
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	4,006,527	 	 	 	3,523,877	 	 	 	3,523,877       	(b)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Shareholder’s Equity
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Common stock
	 	 	50,000	 	 	 	50,000	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Additional paid in capital
	 	 	2,066,805	 	 	 	2,066,805	 	 	 	4,116,851	 	 	 	 	 	 	 	3,523,877	 	 	 	 	 
	Retained earnings
	 	 	(1,744,400	)	 	 	3,249,629	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Current P/L
	 	 	(1,249,583	)	 	 	(1,249,583	)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Stockholder’s Equity
	 	 	(877,177	)	 	 	4,116,851	 	 	 	4,116,851	 	 	 	 	 	 	 	3,523,877	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	2,596,299	 	 	 	7,590,327	 	 	 	7,590,327	 	 	 	 	 	 	 	3,974,251	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	(a)	 	Assumption of Liabilities
	 
	(b)	 	Net Balance to VDC from Management

	 	 	 	 	 

	VDC Common Shares: 800,000 shs @ $4.09
	 	$	3,272,000	 
	Cash Payment Reduction in VDC Note to RDO
	 	$	199,351	 
	Cash Payment
	 	$	52,526	 

A-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]