Share Purchase and Warrant Issuance Agreement between Seller, Interboro Holding, Inc., and Educational Video Conferencing, Inc.

Contract Categories: Business Finance › Purchase Agreements
Summary

This agreement documents the sale of 20,000 shares of ICTS, Inc. by the seller to Interboro Holding, Inc. The seller confirms sole ownership and that the shares are free of any claims. In exchange for transferring the shares, Educational Video Conferencing, Inc. issues the seller a warrant to purchase 5,000 shares of its common stock at $3.00 per share. The agreement is effective as of June 29, 2001, and is signed by representatives of both Interboro and EVCI.

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EX-10.2 4 d26249_ex10-2.txt FORM OF LETTER AGREEMENT EXHIBIT 10.2 805 Coverdale Lane Virginia Beach, Virginia 23452 As of June 29, 2001 Interboro Holding, Inc. Educational Video Conferencing, Inc. 35 E. Grassy Sprain Road Yonkers, New York 10710 Ladies and Gentlemen: This will confirm that today I am selling 20,000 shares (the "Shares") of ICTS, Inc., a Delaware corporation, to Interboro Holding, Inc., a Delaware corporation ("Interboro"). I hereby represent and warrant to you that I am the sole owner of the Shares and that I am selling, transferring and delivering the Shares to Interboro free and clear of any lien, charge, encumbrance or other right or claim of any third party. I further represent and warrant to you that I neither own any other equity of ICTS or any debt of ICTS nor do I have any claim of any kind against ICTS. Against delivery of the certificate for the Shares duly endorsed, or accompanied by a stock power duly endorsed, for transfer to Interboro, as full payment for the Shares, Educational Video Conferencing, Inc., a Delaware corporation ("EVCI"), is issuing and delivering to me today a Warrant to purchase 5,000 shares of the common stock of EVCI, at an initial exercise price of $3.00 per share. Very truly yours, Agreed: INTERBORO HOLDING, INC. By: ------------------------- Dr. Arol I Buntzman Chairman & CEO EDUCATIONAL VIDEO CONFERENCING, INC. By: ------------------------- Dr. Arol I Buntzman Chairman & CEO