STOCK PURCHASE AGREEMENT BY AND BETWEEN AMERICAN FOUNDERS FINANCIAL CORPORATION AND SAGICOR USA, INC. DATED AS OF JUNE 1, 2005Stock Purchase Agreement • June 7th, 2005 • Vesta Insurance Group Inc • Fire, marine & casualty insurance • Delaware
This STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of June 1, 2005, is entered into by and between AMERICAN FOUNDERS FINANCIAL CORPORATION, an Arizona corporation (“Seller”), SAGICOR USA, INC., a Delaware corporation (“Buyer”), and, for the limited purpose of fully guaranteeing the performance, payment and all other obligations of Seller contemplated by this Agreement, VESTA FIRE INSURANCE CORPORATION, an Illinois corporation (“Vesta Fire”), and, for the limited purpose of fully guaranteeing the performance, payment and all other obligations of Buyer contemplated by this Agreement, SAGICOR LIFE INC. (BARBADOS), a Barbados corporation (“SLIB”). Certain initially capitalized terms used herein are defined in Article 12.
