STOCK PURCHASE AGREEMENT by and among DEEP DOWN, INC., CUMING CORPORATION And THE SELLING STOCKHOLDERS Dated as of May 3, 2010Stock Purchase Agreement • May 6th, 2010 • Deep Down, Inc. • Oil & gas field machinery & equipment • Texas
This STOCK PURCHASE AGREEMENT, dated May 3, 2010 (the “Agreement”), by and among Deep Down, Inc., a corporation existing under the laws of Nevada (“Purchaser”), Cuming Corporation, a corporation existing under the laws of Massachusetts (the “Company”), and the stockholders of the Company listed on the signature pages hereof under the heading “Selling Stockholders” (collectively, the “Selling Stockholders”).
WAIVER AGREEMENTWaiver Agreement • May 6th, 2010 • Deep Down, Inc. • Oil & gas field machinery & equipment
THIS WAIVER AGREEMENT (this “Agreement”) is entered into as of April 28, 2010, between DEEP DOWN, INC., a Nevada corporation (“Borrower”), and WHITNEY NATIONAL BANK, a national banking association (the “Lender”). Capitalized terms used but not defined in this Waiver have the meanings given them in the Credit Agreement (defined below).
ESCROW AGREEMENTEscrow Agreement • May 6th, 2010 • Deep Down, Inc. • Oil & gas field machinery & equipment • Massachusetts
THIS ESCROW AGREEMENT (the “Escrow Agreement”) is entered into as of May 3, 2010 by and among the stockholders of Cuming Corporation, a Massachusetts corporation (the “Company”) listed on the signature pages hereof (collectively the “Seller”), Deep Down, Inc., a Nevada corporation (the “Buyer”), and Casner & Edwards, LLP, a Massachusetts limited liability partnership (the “Escrow Agent”).
