Share Purchase Agreement between CellPoint Inc. and CellFree AB for Startskottet 21986 AB Shares

Summary

CellPoint Inc. (the Seller) agrees to sell all 1,000 shares of Startskottet 21986 AB to CellFree AB (the Buyer) for 1 Swedish Krona. The Buyer will gain ownership of the shares on December 11, 2002. The Buyer is required to negotiate a separate technical assistance agreement with the Seller for any ongoing support. The Seller must ensure the company's bookkeeping is current at the time of transfer. Any disputes will be resolved through arbitration under Swedish law.

EX-10.20 3 ex10-20.txt EXHIBIT 10.20 EXHIBIT 10.20 CellPoint Inc,"the Seller", and CellFree AB,"the Buyer" have on this day entered into the following 1. AGREEMENT Whereas the Seller owns all outstanding shares in Startskottet 21986 AB, 556624-7853, "the Company"; and Whereas the shareholder's equity of the Company amounts to 100 000 Swedish Kronor represented by 1 000 shares at 100 Swedish Kronor each. 1. TRANSFER The Seller hereby transfers 1 000 shares in the Company to the Buyer. 2. CONSIDERATION The consideration for the shares amounts to 1 Swedish Krona. By signing this Agreement, the Seller aknowledges receipt of the consideration for the shares. 3. DATE OF ACCESS The Buyer gains access to the shares on December 11, 2002. 4. TECHNICAL ASSISTANCE The Buyer shall negotiate a technical assistance agreement with Seller for such technical assistance formerly provided by the Company as Buyer shall continue to require. 5. BOOKKEEPING The Seller undertakes to ensure that the bookkeeping of the Company is up to date at the time of the transfer. 6. LITIGATION Litigation arising out of this agreement shall be resolved by Skiljeman in accordance with the law on Skiljeforfarande. ---------- This Agreement has been drawn up in two originals out of which each party has taken one. Stockholm, December 10, 2002 /s/ Carl Johan Tornell - ------------------------- --------------------------- CellPoint Inc. CellFree AB