Valence Technology, Inc.12201 Technology Blvd., Suite 150, Austin, Texas 78727 Tel: 512 ###-###-####, Fax ###-###-####
Exhibit 10.2
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| February 8, 2008 |
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| Mr. Carl E. Berg |
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| Berg & Berg Enterprises, LLC. |
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| 10050 Bandley Drive |
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| Cupertino, CA 95014 |
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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.
Pursuant to the agreement reached today, Berg & Berg has funded One Million Dollars ($1,000,000.00) to Valence, to purchase 492,611 shares of common stock. The per share price of the common stock sold to Berg & Berg is $2.03 which represents the closing bid price of the common stock on the principal market on February 7, 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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Valence Technology, Inc. 12201 Technology Blvd., Suite 150, Austin, Texas 78727
Tel: 512 ###-###-####, Fax: 512 ###-###-####
