May 17, 2007
EXHIBIT 10.1
VALENCE TECHNOLOGY, INC.
May 17, 2007
▇▇. ▇▇▇▇ ▇. ▇▇▇▇
▇▇▇▇ & ▇▇▇▇ Enterprises, LLC
▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇
Cupertino, CA 95014
Dear ▇▇. ▇▇▇▇:
This letter is entered into in connection with an agreement entered into by ▇▇▇▇ & ▇▇▇▇ Enterprises, LLC (▇▇▇▇ & ▇▇▇▇) and Valence Technology, Inc. (Valence).
Pursuant to the agreement reached today, ▇▇▇▇ & ▇▇▇▇ has funded One Million Dollars ($1,000,000.00) to Valence, to purchase 990,099 shares of common stock. The per share price of the common stock sold to ▇▇▇▇ & ▇▇▇▇ is $1.01 which represents the closing bid price of the common stock on the principal market on May 16, 2007.
|
|
Sincerely, |
|
|
VALENCE TECHNOLOGY, INC. |
|
|
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ | ||
|
|
▇▇▇▇▇▇ ▇▇▇▇▇▇ |
| |
|
|
Chief Financial Officer |
| |
ACCEPTED AND AGREED:
▇▇▇▇ & ▇▇▇▇, LLC
▇▇▇▇ ▇. ▇▇▇▇
/s/ ▇▇▇▇ ▇. ▇▇▇▇