Security Agreement For Stock Purchase

which represent all the shares, as well as one or more powers of action(s) for each certificate thus provided in the form annexed to the contract of sale, properly executed (with the date and number of shares left empty) by pledgor and Pledgor`s spouse, if any. For the purposes of this Pledging Agreement, shares, dividends, additional securities and additional collateral are hereinafter referred to as “collateral”. Pledgor agrees that the security rights are deposited with and held by the trust holder (as defined in the contract of sale) and that, notwithstanding any provisions to the contrary in the contract of sale, the trust holder acts exclusively for the business as a representative. 2. insurance, guarantees and insurance relating to guarantees. . . .

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