ContractStock Purchase Agreement • September 28th, 2010 • Butler National Corp • Aircraft • Kansas
Exhibit 10.1 STOCK PURCHASE AGREEMENT THIS AGREEMENT is dated the 30th day of August, 2010, and entered into by and between Gary Morris of Spring Hill, Kansas, and David B. Hayden of Spring Hill, Kansas, ("Sellers"), and Butler National Corporation, a Kansas corporation, or its assigns ("Buyer"). WHEREAS, Sellers desire to sell all of the issued and outstanding capital stock of Kings Avionics, Inc., a Kansas corporation ("Corporation"), and Buyer is willing to acquire such interest of Sellers, all in accordance with the following agreement; 1. NOW, THEREFORE, in consideration of the mutual promises herein made, Sellers and Buyer represent, warrant and agree as follows: SALE AND PURCHASE OF STOCK. At the closing to be held on the Closing Date (as hereinafter defined): 1.1 Sale of Shares. Sellers shall sell to Buyer and Buyer shall purchase from Sellers all of the outstanding Capital Stock (as hereinafter defined) of the Corporation, said shares of Capital Stock (the "Sha
