Exhibit 1
TEAM AGREEMENT
This agreement is between Xxxxxxx Xxxxx, Xxxxx Xxxxx, Xxxxx Xxxxxxx and
Xxxx Xxxxxxx, all members of the Board of Directors of Eagle Pacific Industries,
Inc.
The purpose of this agreement is to recognize that Xxxxxxx Xxxxx, Xxxxx
Xxxxx, Xxxxx Xxxxxxx and Xxxxxxx Xxxxxxx, hereafter referred to as the "team",
have demonstrated that as a team their active involvement in assisting various
corporations has resulted in building shareholder value and earnings. We further
represent that we have dependence on one another's differing abilities, and it
is critical the team continue working together with mutual motivations
(hereafter also referred to as our mutual economic motivation). We further
represent that to preclude any one member from losing mutual motivations through
the sale by any team member of their investment in Eagle, it will require the
majority approval by the group to allow any team member to sell their Eagle
stock.
Said simply, we represent this is intended to cause mutual teaming to be
driven by mutual economic motivation. We further represent that this agreement
is perpetual in nature so long as team members are shareholders.
The team members hereby evidence their mutual concurrence with the terms
and conditions of this Team Agreement, by signing this agreement.
Agree to:
/s/ Xxxxx Xxxxx 2-23-98
Xxxxx Xxxxx Date
/s/ Xxxxxxx Xxxxx 2-23-98
Xxxxxxx Xxxxx Date
/s/ Xxxxx X. Xxxxxxx 2-20-98
Xxxxx Xxxxxxx Date
/s/ Xxxxxxx Xxxxxxx 2-23-98
Xxxxxxx Xxxxxxx Date