Document:

ex105.htm

Exhibit 10.5

 

Worldwide Energy and Manufacturing (Nantong) Co., Ltd.

 

Supplemental Agreement re Equity Transfer

 

Transferor: Worldwide Energy and Manufacturing USA, Inc. (hereinafter referred to as “Party A”)

 

Address: 408 N Canal Street, Unit A and B, South San Francisco, CA 94080, USA

Legal Representative: Wang Yong

 

Transferee: Rugao Brother Solar Energy and Technology, Ltd. (hereinafter referred to as “Party B”)

 

Address: Qifeng Road, Rucheng Town, Rugao City

Legal Representative: Wang Jianjun

 

Pursuant to the principles of equality and free will, and according to the laws, rules and regulations of the state, Party A and Party B agree to the following terms and conditions regarding the equity transfer between the parties:

 

	
1.  

	
Subject, Price ad Registration of the Transfer

 

	
(1)  

	
Where Party B achieves sales revenue of US$ 50,000,000 before June 30, 2010, Party A shall transfer its 48.9% of the equity interests of Worldwide Energy and Manufacturing (Nantong) Co., Ltd., valued at US$ 4,890,000, to Party B at no cost.

 

	
(2)  

	
Where Party B achieves sales revenue of US$ 50,000,000 and net profit (the gross profit of the Solar Division deducting expense) of US$ 3,500,000, which is the standard of profit as agreed by the Parties, before December 31, 2010, Party A shall transfer 48.9% of the equity interests of Worldwide Energy and Manufacturing (Nantong) Co., Ltd., valued at US$ 4,890,000, to Party B at no cost.

 

	
(3)  

	
After the effectiveness of this agreement, the parties shall jointly complete the registration formalities with the Administration for Industry and Commerce to reflect such change in the equity of the Company.

 

	
2.  

	
Representations and Warranties

 

	
(1)  

	
Party A represents and warrants that it has the complete and valid right to dispose of the above-mentioned equity interests to be transferred to Party B, and that such equity interest are legitimate, complete, and contain no other restrictions.

 

	
(2)  

	
Both parties warrant that this agreement reflects the true intentions of the parties, and that neither party has any unlawful intentions with respect to this agreement.  The execution and performance of this agreement shall comply with the laws and regulations of the People’s Republic of China.

 

  

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3.  

	
Delivery and Acquisition of the Equity Interests

 

	
(1)  

	
The parties agree that the effective date of this agreement is the date of delivery of the abovementioned equity interests.

 

	
(2)  

	
The date of delivery of the equity interests shall be the day that the parties transfer and accept the rights and obligations associated with the equity interests which are valued at US$ 4,890,000.  From the date of the delivery, Party A’s rights and obligations associated with 48.9% of the equity interests of Worldwide Energy and Manufacturing (Nantong) Co., Ltd. shall be acquired and undertaken by Party B.

 

	
4.  

	
Dispute Resolution

 

	
(1)  

	
After the effectiveness of this agreement, the performance and other matters of this agreement shall be governed by the laws, rules, regulations and policies of the People’s Republic of China.

 

	
(2)  

	
Any disputes between the parties arising in connection with the performance of this agreement shall be resolved through consultation.  Where no agreement could be reached upon consultation, the parties could bring such disputes to the court with proper jurisdiction located at the place of execution of this agreement.

 

	
5.  

	
Effectiveness of this Agreement

 

	
(1)  

	
This agreement shall become effective upon execution of the parties with seals affixed.

 

	
(2)  

	
This agreement is executed in six copies.  Each party shall hold one copy and the relevant authority will hold four copies.

 

 

	
Party A: Worldwide Energy and Manufacturing USA, Inc.

 

Wang Yong

 

(signature and seal)

	
Party B: Rugao Brother Solar Energy and Technology, Ltd.

 

Wang Jianjun

 

(signature and seal)

 

 

 

 

 

 

 

 

2Unassociated Document

Exhibit 10.1

 

AMENDMENT AGREEMENT

 

AMENDMENT No. 1 (this “Amendment”), dated as of August 1, 2011, to the STOCK PURCHASE AGREEMENT (the “Stock Purchase Agreement”) dated as of the 15th day of July, 2011 (the “Effective Date”), by and among MIDAS MEDICI GROUP HOLDINGS, INC., a Delaware corporation (the “Buyer”), CAIRENE INVESTMENTS LTD., a company organized under the laws of the British Virgin Islands (the “Seller”) TADEU VANI FUCCI, an individual (“T. Fucci”), ANTONIO FONTE, an individual (“A. Fonte”), and IOCO SAUKAS, an individual (“I. Saukas”), (T. Fucci, A. Fonte, and I. Saukas are sometimes referred to herein singly as a “Shareholder” and together as the “Shareholders”), CIMCORP, INC., a company organized under the laws of the Cayman Islands, CIMCORP COMÉRCIO INTERNACIONAL E INFORMÁTICA S.A., a Brazilian sociedade anônima, CIMCORP COMÉRCIO E SERVIÇOS TECNOLÓGICOS E INFORMÁTICA LTDA., a Brazilian limitada, CIMCORP USA, LLC, a Florida limited liability company (together, the “Companies”), and JURI SAUKAS (“J. Saukas”) for the limited purposes described therein.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Stock Purchase Agreement.

 

WITNESSETH:

 

WHEREAS, the parties have entered into the Stock Purchase Agreement, whereby the Seller has agreed to sell the Subject Shares to the Buyer and the Buyer has agreed to buy the Subject Shares in accordance with the terms therein;

 

WHEREAS, pursuant to and in accordance with Section 12.12 of the Stock Purchase Agreement, the parties wish to amend the Stock Purchase Agreement as set forth in this Amendment;

 

NOW, THEREFORE, in consideration of the rights and obligations contained herein, and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the parties agree as follows:

 

Section 1. Purchase Price.  Section 2.1 of the Stock Purchase Agreement is amended to read as follows:

 

“The total purchase price for the Subject Shares shall be Fifty-Four Million Brazilian Reais (R$54,000,000) subject to payment, and adjustment, in accordance with the terms and provisions of this Article II.”

 

Section 2. The Initial Shares Purchase; Initial Closing.  Section 2.2(b) of the Stock Purchase Agreement is amended to read as follows:

 

“In consideration for the sale of the Initial Shares, the Buyer shall pay to the Seller an aggregate amount equal to Seventeen Million Brazilian Reais (R$17,000,000) (the “Initial Shares Purchase Price”), corresponding to the difference between (i) Thirty-Two Million Brazilian Reais (R$32,000,000) attributed to the Initial Shares and (ii) Fifteen Million Brazilian Reais (R$15,000,000) of the Total Net Debt. The Initial Shares Purchase Price shall be paid as follows: (i) by the payment to Seller or to Affiliates designated in writing by Seller (no less than five (5) business days prior to the Closing) of R$8,000,000 in immediately available funds to one or more accounts designated by the Seller, by means of a telegraphic transfer(s) to be concluded on the Initial Closing Date and (ii) by the delivery to the Shareholders or to Affiliates designated in writing by the Shareholders (no less than five (5) business days prior to the Closing), on a Pro Rata Basis, of stock certificates for R$9,000,000 in shares of the restricted voting common stock of the Buyer, par value $0.001 per share (the “Buyer Common Stock”) namely, One Million Two Hundred Ninety Seven Thousand Twenty Two (1,297,022) shares of Buyer Common Stock (the “Buyer Shares”), which delivery shall be made by Buyer at Initial Closing Date.”

 

 

  

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Section 3. Conduct of Business Pending Closing.  Schedule 5.1(c) to the Stock Purchase Agreement is amended to read as set forth on Schedule 5.1(c) attached hereto.

 

Section 4. Succession and Assignment.  This Amendment shall be binding upon and inure to the benefit of the parties named herein and their respective successors and permitted assigns. No party may assign either this Amendment or any of its rights, interests, or obligations hereunder without the prior written approval of the Buyer and the Seller; provided, however, that the Buyer may (a) assign any or all of its rights and interests hereunder to one (1) or more of its Affiliates; (b) designate one (1) or more of its Affiliates to perform its obligations hereunder (in any or all of which cases the Buyer nonetheless shall remain responsible for the performance of all of its obligations hereunder); or (c) assign its rights under this Agreement for collateral security purposes to any lenders providing financing to the Buyer or any of its Affiliates.

 

Section 5. No Third Party Beneficiary.  This Amendment shall not confer any rights or remedies upon any Person other than the parties hereto and their respective successors and permitted assigns.

 

Section 6. Entire Agreement.  This Amendment constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between the Seller and Buyer with respect to the subject matter hereof.  Except as amended by this Amendment, the Stock Purchase Agreement shall continue in full force and effect.

 

Section 7. Severability.  This Amendment shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Amendment a provision as similar in terms to such invalid or unenforceable provision as may be valid and enforceable, so as to effect the original intent of the parties to the greatest extent possible.

 

Section 8. Counterparts.  This Amendment may be executed and delivered in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

Section 9. Governing Law.  With respect to corporate governance matters and the ownership and the transfer of stock in each of the Companies, this Amendment shall be governed by and construed in accordance with the laws of the jurisdiction of such Companies. With respect to all other matters hereunder, this Amendment shall be governed by and construed in accordance with the laws of Brazil, without regard to the conflicts of law provisions thereof.

 

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the date first above written.

 

 

	BUYER:	 
	 	 
	MIDAS MEDICI GROUP HOLDINGS, INC.,	 
	a Delaware corporation	 
	 	 
	 	 	 
	
By: 

	/s/ Nana Baffour 	 
	 	Name: Nana Baffour   	 
	 	Title: Chief Executive Officer   	 
	 	 	 

 

 

 

  

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	SHAREHOLDERS:	 	 	SELLER:	 
	 	 	 	 	 
	
T. FUCCI:

	 	 	
CAIRENE INVESTMENTS, LTD,

	 
	 	 	 	a British Virgin Islands company	 
	 	 	 	 	 
	
/s/ Tadeu Vani Fucci   

	 	 	
/s/ Antônio José Salles Fonte    

	 
	
 
Tadeu Vani Fucci

	 	 	
Name: Antônio José Salles Fonte    

	 
	
 

	 	 	
Title: Director & Shareholder    

	 
	 	 	 	 	 
	 
A. FONTE:

	 	By:	/s/ Tadeu Vani Fucci  	 
	 	 	 	Name: Tadeu Vani Fucci   	 
	/s/ Antonio Fonte   	 	 	Title: Director & Shareholder    	 
	Antonio Fonte	 	 	 	 
	 	 	 	COMPANIES:	 
	 	 	 	 	 
	 
I. SAUKAS:

	 	 	CIMCORP, INC.,	 
	 	 	 	a Cayman Islands Company	 
	/s/ Ioco Saukas  	 	 	 	 
	Ioco Saukas	 	By:	/s/ Antônio José Salles Fonte     	 
	 	 	 	 Name: Antônio José Salles Fonte   	 
	 	 	 	 Title: Director   	 
	Solely for purposes of Sections 9.2, 9.4 and 9.8:	 	 	 	 
	 	 	By:	/s/ Tadeu Vani Fucci   	 
	J. SAUKAS:	 	 	 Name: Tadeu Vani Fucci  	 
	/s/ Juri Saukas   	 	 	 Title: Director    	 
	Juri Saukas	 	 	 	 
	 	 	 	CIMCORP COMÉRCIO INTERNACIONAL E INFORMÁTICA S.A.,	 
	 	 	 	a Brazil Company	 
	 	 	 	 	 
	 	 	By:	/s/ Antônio José Salles Fonte   	 
	 	 	 	 Name: Antônio José Salles Fonte	 
	 	 	 	 Title: Officer	 
	 	 	 	 	 
	 	 	By:	/s/Tadeu Vani Fucci     	 
	 	 	 	 Name: Tadeu Vani Fucci   	 
	 	 	 	 Title: Chief Executive Officer	 

 

 

  

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	 	 	 	CIMCORP COMÉRCIO E SERVIÇOS TECNOLÓGICOS E INFORMÁTICA LTDA.	 
	 	 	 	a Brazil Company	 
	 	 	 	 	 
	 	 	By: 	/s/ Antônio José Salles Fonte   	 
	 	 	 	 Name: Antônio José Salles Fonte  	 
	 	 	 	 Title: Manager    	 
	 	 	 	 	 
	 	 	By:	/s/Tadeu Vani Fucci     	 
	 	 	 	 Name: Tadeu Vani Fucci      	 
	 	 	 	 Title: Manager	 
	 	 	 	 	 
	 	 	 	CIMCORP USA, LLC	 
	 	 	 	a Florida limited liability company	 
	 	 	 	 	 
	 	 	By:	/s/ Antônio José Salles Fonte  	 
	 	 	 	 Name: Antônio José Salles Fonte   	 
	 	 	 	 Title: Managing Member  	 
	 	 	 	 	 
	 	 	By: 	/s/ Tadeu Vani Fucci   	 
	 	 	 	 Name: Tadeu Vani Fucci       	 
	 	 	 	 Title: Officer of Cimcorp, S.A	 

 

 

 

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