Hawaii Sample Founder Stock Repurchase Agreement between MachOne Communications, Inc. and Michael Solomon

• Category: Corporations - Public - Stock Purchase Sample
• State: Multi-State
• Control #: US-EG-9129
• Format: Word; Rich Text

Description

Founder Stock Repurchase Agreement between MachOne Communications, Inc. and Michael Solomon dated June 1, 1998. 8 pages Title: Hawaii Sample Founder Stock Repurchase Agreement between Machine Communications, Inc. and Michael Solomon Keywords: Hawaii, Sample Founder Stock Repurchase Agreement, Machine Communications, Inc., Michael Solomon 1. Introduction to Hawaii Sample Founder Stock Repurchase Agreement: The Hawaii Sample Founder Stock Repurchase Agreement serves as a legally binding contract between Machine Communications, Inc. and Michael Solomon, laying out the terms and conditions for repurchasing founder stock. This agreement outlines the specific details, rights, and obligations relating to the repurchase of shares held by Michael Solomon. 2. Parties Involved: This agreement is entered into by Machine Communications, Inc., a reputable telecommunications company based in Hawaii, and Michael Solomon, a founder, and stakeholder of the company. 3. Purpose of the Agreement: The primary objective of the Hawaii Sample Founder Stock Repurchase Agreement is to define the terms under which Machine Communications, Inc. shall repurchase Michael Solomon's founder stock in the event of specific triggering events, such as termination, resignation, retirement, or death. 4. Stock Repurchase Mechanism: This section of the agreement outlines the process and mechanics of the stock repurchase. It discusses the valuation methodology employed to determine the repurchase price, which may involve factors like fair market value, book value, or a predetermined formula. It also stipulates the timeline for the repurchase and the obligations of both parties in executing the transaction. 5. Triggers for Repurchase: The Hawaii Sample Founder Stock Repurchase Agreement addresses the triggering events that may necessitate the repurchase of the founder's stock. These triggers usually include involuntary terminations, voluntary resignations, retirements, or unexpected death. 6. Purchase Price and Payment Terms: The agreement specifies the purchase price at which Machine Communications, Inc. will acquire the founder stock from Michael Solomon. It outlines the terms of payment, whether it is to be done in a lump sum or through installments, and any provisions for interest or penalties in case of default. 7. Usage of Repurchased Stock: In the case of stock repurchase, the agreement may specify whether Machine Communications, Inc. is entitled to retire the repurchased shares, retain them as treasury stock, or allocate them for other valid corporate purposes. 8. Dispute Resolution and Governing Law: This section identifies the jurisdiction under which the agreement falls and the process of resolving any disputes that may arise. It outlines the preferred methods of arbitration or mediation, ensuring a fair and impartial resolution process. Types of Hawaii Sample Founder Stock Repurchase Agreements between Machine Communications, Inc. and Michael Solomon: 1. Employee Stock Repurchase Agreement: This agreement pertains to repurchasing founder stock from Michael Solomon in the case of employment termination or involuntary separation. 2. Retirement Stock Repurchase Agreement: This agreement focuses on repurchasing founder stock from Michael Solomon upon his retirement from Machine Communications, Inc. 3. Founder Stock Repurchase Agreement upon Death: This agreement outlines the terms for repurchasing founder stock from the estate of Michael Solomon in the unfortunate event of his unexpected death. Remember, these are fictional examples, and the actual agreement should be tailored according to the specific needs and requirements of the parties involved. Legal advice should always be sought when drafting or executing such agreements.

Title: Hawaii Sample Founder Stock Repurchase Agreement between Machine Communications, Inc. and Michael Solomon Keywords: Hawaii, Sample Founder Stock Repurchase Agreement, Machine Communications, Inc., Michael Solomon 1. Introduction to Hawaii Sample Founder Stock Repurchase Agreement: The Hawaii Sample Founder Stock Repurchase Agreement serves as a legally binding contract between Machine Communications, Inc. and Michael Solomon, laying out the terms and conditions for repurchasing founder stock. This agreement outlines the specific details, rights, and obligations relating to the repurchase of shares held by Michael Solomon. 2. Parties Involved: This agreement is entered into by Machine Communications, Inc., a reputable telecommunications company based in Hawaii, and Michael Solomon, a founder, and stakeholder of the company. 3. Purpose of the Agreement: The primary objective of the Hawaii Sample Founder Stock Repurchase Agreement is to define the terms under which Machine Communications, Inc. shall repurchase Michael Solomon's founder stock in the event of specific triggering events, such as termination, resignation, retirement, or death. 4. Stock Repurchase Mechanism: This section of the agreement outlines the process and mechanics of the stock repurchase. It discusses the valuation methodology employed to determine the repurchase price, which may involve factors like fair market value, book value, or a predetermined formula. It also stipulates the timeline for the repurchase and the obligations of both parties in executing the transaction. 5. Triggers for Repurchase: The Hawaii Sample Founder Stock Repurchase Agreement addresses the triggering events that may necessitate the repurchase of the founder's stock. These triggers usually include involuntary terminations, voluntary resignations, retirements, or unexpected death. 6. Purchase Price and Payment Terms: The agreement specifies the purchase price at which Machine Communications, Inc. will acquire the founder stock from Michael Solomon. It outlines the terms of payment, whether it is to be done in a lump sum or through installments, and any provisions for interest or penalties in case of default. 7. Usage of Repurchased Stock: In the case of stock repurchase, the agreement may specify whether Machine Communications, Inc. is entitled to retire the repurchased shares, retain them as treasury stock, or allocate them for other valid corporate purposes. 8. Dispute Resolution and Governing Law: This section identifies the jurisdiction under which the agreement falls and the process of resolving any disputes that may arise. It outlines the preferred methods of arbitration or mediation, ensuring a fair and impartial resolution process. Types of Hawaii Sample Founder Stock Repurchase Agreements between Machine Communications, Inc. and Michael Solomon: 1. Employee Stock Repurchase Agreement: This agreement pertains to repurchasing founder stock from Michael Solomon in the case of employment termination or involuntary separation. 2. Retirement Stock Repurchase Agreement: This agreement focuses on repurchasing founder stock from Michael Solomon upon his retirement from Machine Communications, Inc. 3. Founder Stock Repurchase Agreement upon Death: This agreement outlines the terms for repurchasing founder stock from the estate of Michael Solomon in the unfortunate event of his unexpected death. Remember, these are fictional examples, and the actual agreement should be tailored according to the specific needs and requirements of the parties involved. Legal advice should always be sought when drafting or executing such agreements.