[Exhibit 2.2]
REPURCHASE AGREEMENT
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This Agreement made this 30th day of December, 2003.
BETWEEN:
AMERICAN BUSING CORPORATION,
a body corporate registered in the State of Nevada, USA
(herein "Purchaser")
OF THE FIRST PART
AND
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an individual residing in Scottsdale, Arizona.
(herein "Vendor")
OF THE SECOND PART.
WHEREAS the Purchaser owns 8,500,000 shares of the Purchaser
and does not desire to be director of American Busing Corporation
due to family and other important commitments;
AND WHEREAS the Purchaser acknowledges and agrees to
repurchase the 8,500,000 shares of the Purchasers common stock
owned by the Vendor, and the Vendor agrees to the cancellation of
all outstanding loans made by Vendor to the Purchaser, in
consideration for Purchaser's payment of $21,250 to Vendor;
AND WHEREAS the transaction contemplated by this Agreement,
and the parties hereto, are subject to the provisions of a Stock
Purchase and Reorganization Agreement, dated as of even date
herewith (the "Reorganization Agreement")
THIS AGREEMENT WITNESSETH that in consideration of the
covenants, agreement, warranties and payments herein set forth
and provided for, the parties hereto respectively covenant and
agree as follows:
1.0 Repurchase
1.1 That both parties agree that the Purchaser shall pay to the
Vendor $21,250 for the repurchase of the 8,500,000 shares
held by the Vendor in the Purchaser and the cancellation of
the Vendor's shareholders loans;
1.2 That a condition precedent to the closing of this Agreement
shall be the closing of the Reorganization Agreement and the
transfer of all monies contemplated in the transactions and
agreements referred to in the Reorganization Agreement.
2.0 Representations and Warranties
2.1 That the said shares are free of all liens and encumbrances
and have not been hypothecated in any way.
3.0 Notice
American Busing Corporation
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4.0 Governing Law
4.1 That this Agreement shall be governed in accordance with the
laws of the State of Arizona;
American Busing Corporation
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Authorized Officer
Signed, Sealed and Delivered
in the presence of :
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Witness -----------------------------------
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