Zustimmung zum Abschluss und die Ermächtigung des Vorstands der Tuff Group AG zur Umsetzung eines Kaufvertrages ( Share Purchase Agreement ) über die Geschäftsanteile der Tochtergesellschaft der Tuff Group AG, der Tuff Offshore Engineering Services Pte. Ltd., Singapur

Der zur Beschlussfassung der Hauptversammlung anstehende Kaufvertrag hat den folgenden Inhalt:

FINAL DRAFT
1 December 2021

THIS SHARE PURCHASE AGREEMENT (the “Agreement”) made and entered into this _​_​_​_​_​_​_​(the “Execution Date”),

BETWEEN:

TUFF Group AG of Marienplatz 2 80331 Munich, Germany (the “Seller”)

AND

Ganesh Paulraj of 186 Depot Road #16-12 Singapore 109687
(the “Purchaser”)

BACKGROUND

A. The Seller is the owner of record of 100% shares (the “Shares”) of Tuff Offshore Engineering Services Pte Ltd (the “Corporation”).

B. The Seller desires to sell the Shares to the Purchaser and the Purchaser desires to purchase the Shares from the Seller.

IN CONSIDERATION OF and as a condition of the parties entering into this Agreement and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the parties to this Agreement agree as follows:

Purchase and Sale

1. Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in EUR

2. The Seller agrees to sell and the Purchaser agrees to purchase all the rights, title, interest, and property of the Seller in the Shares for an aggregate purchase price of EUR 250,000 (the “Purchase Price”).

3. A fixed sum of EUR 250,000 will be payable within 10 days after the Closing Date (_​_​_​_​_​_​_​).

4. All payments will be in the form of a SWIFT wire transfer, or bank draft of immediately available funds. In the case of a direct wire transfer the Seller will give notice to the Purchaser of the bank account particulars at least 5 business days prior to the Closing Date.

Representations and Warranties of the Seller

5. The Seller warrants and represents to the Purchaser as follows:

a. Except as provided in the incorporating documents of the Corporation or as indicated on the face of the certificates for the Shares, the Purchaser would not be prevented or restricted in any way from re-selling the Shares in the future.
b. The Seller is the owner in clear title of the Shares and the Shares are free of any lien, encumbrance, security interests, charges, mortgages, pledges, or adverse claim or other restriction that would prevent the transfer of clear title to the Purchaser.
c. The Seller is not bound by any agreement that would prevent any transactions connected with this Agreement.
d. There is no legal action or suit pending against any party, to the knowledge of the Seller, that would materially affect this Agreement.
e. No further guarantees are given by the Seller, in particular with regard to the economic performance of the Corporation. The Purchaser is expressly aware that the Corporation makes losses.

Representations and Warranties of the Purchaser

6. The Purchaser warrants and represents to the Seller as follows:
a. The Purchaser is not bound by any agreement that would prevent any transactions connected with this Agreement.
b. There is no legal action or suit pending against any party, to the knowledge of the Purchaser, that would materially affect this Agreement.

Closing

7. The closing of the purchase and sale of the Shares (the “Closing”) will take place on _​_​_​_​_​_​_​ (the “Closing Date”) at the offices of the Seller or at such other time and place as the Seller and the Purchaser mutually agree. At Closing and upon the Purchaser paying the Purchase Price in full to the Seller, the Seller will deliver to the Purchaser duly executed transfers of the Shares.

Expenses

8. All parties agree to pay all their own costs and expenses in connection with this Agreement.

Finder’s Fees

9. No party to this Agreement will pay any type of finder’s fee to any other party to this Agreement or to any other individual in connection to this

Agreement.

10. All parties to this Agreement warrant and represent that no investment banker or broker or other intermediary has facilitated the transaction contemplated by this Agreement and is entitled to a fee or commission in connection with said transaction. All parties to this Agreement indemnify and hold harmless all other parties to this Agreement in connection with any claims for brokerage fees or other commissions that may be made by any party pertaining to this Agreement.

Dividends

11. Any dividends earned by the Shares and payable before the Closing of this Agreement will belong to the Seller, and any dividends earned by the Shares and payable after the Closing of this Agreement will belong to the Purchaser.

12. Any rights to vote attached to the Shares will belong to the Seller before the Closing and will belong to the Purchaser after the Closing.

Governing Law

13. The Purchaser and the Seller submit to the jurisdiction of the courts of Singapore for the enforcement of this Agreement or any arbitration award or decision arising from this Agreement. This Agreement will be enforced or construed according to the laws of Singapore

Miscellaneous

14. Time is of the essence in this Agreement.

15. This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.

16. All warranties and representations of the Seller and the Purchaser connected with this Agreement will survive the Closing.

17. This Agreement will not be assigned either in whole or in part by any party to this Agreement without the written consent of the other party.

18. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine gender include the feminine gender and vice versa. Words in the neuter gender include the masculine gender and the feminine gender and vice versa.

19. If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

20. This Agreement contains the entire agreement between the parties. All negotiations and understandings have been included in this Agreement. Statements or representations which may have been made by any party to this Agreement in the negotiation stages of this Agreement may in some way be inconsistent with this final written Agreement. All such statements are declared to be of no value in this Agreement. Only the written terms of this Agreement will bind the parties.

21. This Agreement and the terms and conditions contained in this Agreement apply to and are binding upon the Seller and the Purchaser and their respective successors, assigns, executors, administrators, beneficiaries, and representatives.

22. Any notices or delivery required here will be deemed completed when hand-delivered, delivered by agent, or seven (7) days after being placed in the post, postage prepaid, to the parties at the addresses contained in this Agreement or as the parties may later designate in writing.

23. All of the rights, remedies and benefits provided by this Agreement will be cumulative and will not be exclusive of any other such rights, remedies and benefits allowed by law.

IN WITNESS WHEREOF the Seller and Purchaser have duly affixed their signatures under hand and seal on this _​_​_​_​_​_​_​_​_​

_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ (Seller)

_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ (Purchaser)

FINALER ENTWURF
1. Dezember 2021

DIESER AKTIENKAUFVERTRAG (der „Vertrag„) wurde am _​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ (das „Abschlussdatum„) geschlossen,

ZWISCHEN:

TUFF Group AG, Marienplatz 2, 80331 München, Deutschland

UND

Ganesh Paulraj, 186 Depot Road #16-12, Singapur 109687

HINTERGRUND

UNTER BERÜCKSICHTIGUNG und als Bedingung für den Abschluss dieses Vertrages und in Ansehung anderer bedeutender Erwägungen, deren Erhalt und Zulänglichkeit anerkannt wird, vereinbaren die Parteien dieses Vertrages Folgendes:

ZU URKUND DESSEN haben der Verkäufer und der Käufer an diesem _​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ihre Unterschriften mit Hand und Siegel ordnungsgemäß angebracht.

_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ (Verkäufer)

_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​_​ (Käufer)

Der vollständige Vertragsentwurf (in englischer Sprache sowie in einer deutschen Übersetzung) steht auf der Internetseite der Gesellschaft unter

zur Einsicht zur Verfügung.

Herr Ganesh Paulraj schlägt vor, zu beschließen:

Nach § 124 Abs. 3 Satz 3 Alt. 2 AktG sehen Vorstand und Aufsichtsrat davon ab, den Aktionären zu Tagesordnungspunkt 6 einen Vorschlag zu unterbreiten.

Der Vorstand wird den Vertragsentwurf im Rahmen der Hauptversammlung mündlich erläutern und zudem eine Fairness Opinion basierend auf dem IDW-Standard: Grundsätze für die Erstellung von Fairness Opinions (IDW S8) einholen.

Änderung der Firma der Gesellschaft

Herr Ganesh Paulraj schlägt vor, zu beschließen:

Die Firma der Gesellschaft wird geändert in:

§ 1 Abs. 1 der Satzung wird demnach wie folgt neu gefasst:

Nach § 124 Abs. 3 Satz 3 Alt. 2 AktG sehen Vorstand und Aufsichtsrat davon ab, den Aktionären zu Tagesordnungspunkt 7 einen Vorschlag zu unterbreiten.

Änderung des Unternehmensgegenstandes

Herr Ganesh Paulraj schlägt vor, zu beschließen:

Der Gegenstand des Unternehmens der Gesellschaft wird wie folgt geändert:

§ 2 der Satzung wird demnach wie folgt neu gefasst:

Nach § 124 Abs. 3 Satz 3 Alt. 2 AktG sehen Vorstand und Aufsichtsrat davon ab, den Aktionären zu Tagesordnungspunkt 8 einen Vorschlag zu unterbreiten.

Abberufung und Neubestellung von Aufsichtsratsmitgliedern

Der Aufsichtsrat der Tuff Group AG setzt sich gemäß § 95 AktG i.V.m. § 9.1 der Satzung der Gesellschaft aus drei Mitgliedern zusammen. Der Aufsichtsrat setzt sich gemäß § 96 Abs. 1, sechster Fall AktG nur aus Mitgliedern zusammen, die durch die Hauptversammlung gewählt werden. Die Hauptversammlung ist an Wahlvorschläge nicht gebunden.

Herr Ganesh Paulraj schlägt vor, zu beschließen:

Nach § 124 Abs. 3 Satz 3 Alt. 2 AktG sehen Vorstand und Aufsichtsrat davon ab, den Aktionären zu Tagesordnungspunkt 9 einen Vorschlag zu unterbreiten.

Vergütung der Aufsichtsratsmitglieder

Herr Ganesh Paulraj schlägt vor, zu beschließen:

Den Mitgliedern des Aufsichtsrats wird ab dem Geschäftsjahr 2022 die folgende Jahresvergütung gezahlt:

Falls erforderlich, wird die Aufsichtsratsvergütung zzgl. Umsatzsteuer gezahlt.

Nach § 124 Abs. 3 Satz 3 Alt. 2 AktG sehen Vorstand und Aufsichtsrat davon ab, den Aktionären zu Tagesordnungspunkt 10 einen Vorschlag zu unterbreiten.