This Share Pledge Agreement is between an owner of certain shares (the "pledgor") and a pledgee who agrees to use the shares as security for an unpaid debt or loan. This agreement sets forth the names of the parties, the number of pledged shares and representations made by the pledgor in regard to the pledged shares. It also sets forth any application of proceeds if the shares are sold and how the pledged shares will be registered. It is important that this pledge agreement be clearly set forth in writing. A written Share Pledge Agreement will prove invaluable in the event there are disagreements or misunderstandings about the ownership of the pledged shares.

This Share Pledge Agreement contains the following:

• Parties: Sets forth the name of the owner of the pledged shares and the individual or entity to whom the shares are pledged;
• Pledge of Shares: Sets forth that pledgor grants the pledgee a security interest in the shares as collateral for repayment of indebtedness;
• Remedies of Pledgee: Sets out the remedies of the pledgee in the event the security becomes unenforceable;
• Changes: Sets forth that if any of the shares are changed or reclassified, those changed shares remain subject to this agreement;
• Signatures: Both pledgor and pledgee must sign this agreement in the presence of witnesses.

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This attorney-prepared packet contains:

1. General Instructions
2. Share Pledge Agreement

State Law Compliance: This form complies with the laws of all states