Alabama Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers

• Category: Corporations - Public - Employees
• State: Multi-State
• Control #: US-CC-19-221
• Format: Word; Rich Text

Description

19-221 19-221 . . . Restricted Stock Purchase Agreement under which (a) officers were given right to purchase shares of common stock at market price of shares on date of Agreements, (b) purchase price of shares is to be paid by four full-recourse promissory notes bearing interest at 9% with up to 1/2 of annual interest deferred until specified date, (c) 25% of shares vest cumulatively on 1st, 2nd, 3rd and 4th anniversaries of date of grant (or earlier in event of change in control) and (d) if purchaser ceases to be an employee, corporation has right to repurchase unvested portion of purchaser's shares at original purchase price plus interest paid on notes covering such shares The Alabama Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a legally binding document that outlines the terms and conditions of the purchase of restricted stock. This agreement is specific to the state of Alabama and applies to the purchase of Intermark, Inc.'s restricted stock by purchasers. The agreement includes various sections that detail the rights and obligations of both Intermark, Inc. and the purchasers. It provides a comprehensive framework to ensure transparency, clarity, and fairness in the stock purchase transaction. Key sections of the Alabama Sample Restricted Stock Purchase Agreement may include: 1. Parties: This section identifies and defines the involved parties, specifically Intermark, Inc. as the issuing company and the purchasers. 2. Consideration: This section specifies the total consideration or purchase price for the restricted stock being bought. 3. Purchase and Sale: This section outlines the terms of the stock purchase, including the number of shares being purchased, any restrictions on the stock, and the method of payment. 4. Representations and Warranties: This crucial section contains statements and assurances made by both parties regarding the accuracy of the information provided and the legality of the transaction. 5. Transfer Restrictions: This section defines any limitations on transferring or selling the restricted stock, ensuring compliance with applicable securities laws. 6. Vesting Schedule: If applicable, this section lays out the predetermined vesting schedule for the restricted stock, which specifies when the stock becomes fully owned by the purchaser. 7. Termination: This section delineates the circumstances under which the agreement may be terminated, including breach of contract, mutual agreement, or other predetermined events. Depending on the specific circumstances and requirements, there may be different types of Alabama Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers. These variations could include agreements for different classes of stock, agreements with specific conditions unique to certain purchasers, or agreements tailored to the preferences of the parties involved. It is essential to consult with legal professionals or experts in Alabama securities laws to adapt the agreement to suit the specific needs and specifications of the stock purchase transaction. This ensures that the executed agreement is legally valid and enforceable.

The Alabama Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a legally binding document that outlines the terms and conditions of the purchase of restricted stock. This agreement is specific to the state of Alabama and applies to the purchase of Intermark, Inc.'s restricted stock by purchasers. The agreement includes various sections that detail the rights and obligations of both Intermark, Inc. and the purchasers. It provides a comprehensive framework to ensure transparency, clarity, and fairness in the stock purchase transaction. Key sections of the Alabama Sample Restricted Stock Purchase Agreement may include: 1. Parties: This section identifies and defines the involved parties, specifically Intermark, Inc. as the issuing company and the purchasers. 2. Consideration: This section specifies the total consideration or purchase price for the restricted stock being bought. 3. Purchase and Sale: This section outlines the terms of the stock purchase, including the number of shares being purchased, any restrictions on the stock, and the method of payment. 4. Representations and Warranties: This crucial section contains statements and assurances made by both parties regarding the accuracy of the information provided and the legality of the transaction. 5. Transfer Restrictions: This section defines any limitations on transferring or selling the restricted stock, ensuring compliance with applicable securities laws. 6. Vesting Schedule: If applicable, this section lays out the predetermined vesting schedule for the restricted stock, which specifies when the stock becomes fully owned by the purchaser. 7. Termination: This section delineates the circumstances under which the agreement may be terminated, including breach of contract, mutual agreement, or other predetermined events. Depending on the specific circumstances and requirements, there may be different types of Alabama Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers. These variations could include agreements for different classes of stock, agreements with specific conditions unique to certain purchasers, or agreements tailored to the preferences of the parties involved. It is essential to consult with legal professionals or experts in Alabama securities laws to adapt the agreement to suit the specific needs and specifications of the stock purchase transaction. This ensures that the executed agreement is legally valid and enforceable.