Share Purchase Agreement between Valence Technology, Inc. and Berg & Berg Enterprises, LLC (February 21, 2008)
Valence Technology, Inc. and Berg & Berg Enterprises, LLC have agreed that Berg & Berg will provide $1,000,000 to Valence in exchange for shares of Valence's common stock. The price per share will be determined by the closing price on the principal market on February 27, 2008. This agreement outlines the purchase terms and confirms both parties' acceptance.
Exhibit 10.2
February 21, 2008
Mr. Carl E. Berg
Berg & Berg Enterprises, LLC.
10050 Bandley Drive
Cupertino, CA 95014
Re: Share Purchase
Dear Mr. Berg:
This letter is entered into in connection with an agreement entered into by Berg & Berg Enterprises, LLC. (Berg & Berg) and Valence Technology, Inc.(Valence).
Pursuant to the agreement Berg & Berg has funded One Million Dollars ($1,000,000.00) to Valence, to purchase shares of common stock of Valence. The per share price of the common stock to be sold to Berg & Berg shall be the closing price of the common stock on the principal market on Wednesday February 27, 2008.
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| Sincerely, |
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| VALENCE TECHNOLOGY, INC. |
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| /s/ Robert L. Kanode |
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| Robert L. Kanode |
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| Chief Executive Officer |
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| ACCEPTED AND AGREED: |
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| Berg & Berg, LLC. |
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| /s/ Carl E. Berg |
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| Carl E. Berg |
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