PPT Vision, Inc. Agreement to Issue Common Stock to P.R. Peterson Keogh Plan
PPT Vision, Inc. agrees to issue 2,500,000 shares of common stock to the P.R. Peterson Keogh Plan, as outlined in a Subscription Agreement dated August 30, 2007. The shares will be issued after the company's shareholders approve an increase in authorized common stock at the 2008 Annual Meeting and the necessary amendment is filed with the Minnesota Secretary of State, or earlier if approval is obtained sooner.
Exhibit 10.3
August 30, 2007
P.R. Peterson Keogh Plan
6111 Blue Circle
Minnetonka, MN ###-###-####
PPT Vision, Inc. hereby agrees that the 2,500,000 shares of common stock to be issued to you pursuant to the Subscription Agreement dated as August 30, 2007 will be issued to you as soon as possible after the approval of the increase in the authorized common stock of the Company at the 2008 Annual Meeting of Shareholders and the filing of an amendment to the Articles with the Minnesota Secretary of State or such earlier date as the Company’s shareholders approve an increase in the Company’s common stock.
| PPT VISION, INC. | ||
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| By: | /s/ Joseph C. Christenson |
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| Joseph C. Christenson |
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| Chief Executive Officer |
