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EXHIBIT 10.19
Thermwood Option To Purchase Xxxxx Xxxxxx'x Shares
OPTION AGREEMENT
This agreement, entered into this 4th day of February, 1999, by and
between the Thermwood Corporation, an Indiana corporation having its principal
place of business at 000 Xxx Xxxxxxxxxxxx Xxxx, Xxxx, Xxxxxxx, hereinafter
referred to as Thermwood; and Xxxxx Xxxxxx, an individual residing at 000 Xxxxx
Xxxxxx, Xxxx Xxxx, Xxxxxxx, hereinafter referred to as Xxxxxx,
WITNESSETH THAT:
WHEREAS, Xxxxxx is the owner of 209,000 shares of the presently
outstanding shares of the common stock of Thermwood, hereinafter referred to as
Common Stock; and
WHEREAS, Thermwood is desirous of obtaining from Xxxxxx the right,
privilege and option to purchase said 209,000 shares of Common Stock owned by
Xxxxxx, which Xxxxxx is willing to grant, under the following terms and
conditions.
NOW, THEREFORE, for and in consideration of the premise and mutual
covenants hereinafter set forth, the parties hereto agree as follows:
1. Xxxxxx hereby grants unto Thermwood, the right, privilege and option
to purchase from Xxxxxx said 209,000 shares of Common Stock of Thermwood owned
by Xxxxxx at a purchase price of Fifteen Dollars ($15.00) per share of said
common stock, exercisable at any time after January 1, 2002 and before January
1, 2004, as to any number of or all such shares.
2. In consideration of the right, privilege and option set forth in
Paragraph 1 hereof, Thermwood shall pay Xxxxxx the amount of Five Thousand
Dollars ($5,000.00) upon execution of this agreement.
