February 8, 2008
Exhibit 10.2
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February 8, 2008 |
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Xx. Xxxx X. Xxxx |
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Xxxx & Xxxx Enterprises, LLC. |
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00000 Xxxxxxx Xxxxx |
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Cupertino, CA 95014 |
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Re: Share Purchase
Dear Xx. Xxxx:
This letter is entered into in connection with an agreement entered into by Xxxx & Xxxx Enterprises, LLC. (Xxxx & Xxxx) and Valence Technology, Inc.
Pursuant to the agreement reached today, Xxxx & Xxxx 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 Xxxx & Xxxx 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/ Xxxxxx X. Xxxxxx |
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Xxxxxx X. Xxxxxx |
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Chief Executive Officer |
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ACCEPTED AND AGREED: |
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Xxxx & Xxxx, LLC. |
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/s/ Xxxx X. Xxxx |
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Xxxx X. Xxxx |
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Valence Technology, Inc. 00000 Xxxxxxxxxx Xxxx., Xxxxx 000, Xxxxxx, Xxxxx 00000
Tel: 000-000-0000, Fax: 000-000-0000