District of Columbia Stock Redemption Agreements with exhibits of Fair Lanes, Inc.

• Category: Corporations - Public - Transactions with Officers Directors or Insiders
• State: Multi-State
• Control #: US-CC-16-149A
• Format: Word; Rich Text

Description

This sample form, a detailed Stock Redemption Agreements w/exhibits, is a model for use in corporate matters. The language may be very useful in drafting a similar document to fit your specific circumstances. Available in several standard formats.

District of Columbia Stock Redemption Agreements are legal contracts that outline the terms and conditions under which shares of stock held by shareholders in a company can be redeemed by the company itself. These agreements serve as a means for companies to repurchase their own stock for various reasons, such as retiring shares, reducing the number of outstanding shares, or settling disputes with shareholders. One notable example of a District of Columbia Stock Redemption Agreement is the agreement involving Fair Lanes, Inc., a former chain of bowling centers. Fair Lanes, Inc. was a prominent player in the leisure industry, operating numerous bowling alleys across the District of Columbia. The company entered into a stock redemption agreement with its shareholders to facilitate the repurchase of their stock. Under the Fair Lanes, Inc. Stock Redemption Agreement, shareholders had the opportunity to sell their shares back to the company at a specified price, or based on a predetermined formula. This allowed Fair Lanes, Inc. to regain ownership of the shares and provide financial compensation to the shareholders. Exhibits included within the District of Columbia Stock Redemption Agreement for Fair Lanes, Inc. may consist of documents such as: 1. Share Purchase Agreement: This exhibit outlines the terms and conditions related to the purchase and sale of shares between the shareholders and Fair Lanes, Inc. It includes details on the purchase price, payment terms, and deadlines for completing the transaction. 2. Share Redemption Notice: This exhibit provides a template for shareholders to formally notify the company of their intent to redeem their shares. It typically includes information on the number of shares being redeemed and the desired redemption date. 3. Certificate of Stock Redemption: This exhibit serves as evidence of the completed stock redemption transaction. It includes details such as the number of shares redeemed, the consideration paid, and signatures of authorized representatives from both the company and the shareholder. Different types of stock redemption agreements may exist depending on the specific circumstances and objectives of the company. Some common variations include: a) Voluntary Stock Redemption Agreement: This type of agreement allows shareholders to voluntarily sell their shares back to the company at their discretion and according to predetermined terms and procedures. b) Mandatory Stock Redemption Agreement: This form of agreement may be implemented when certain triggering events occur, requiring the company to automatically redeem shares from shareholders. These events could include the death or disability of a shareholder, the termination of a shareholder's employment, or a breach of specific provisions outlined in the agreement. In summary, the District of Columbia Stock Redemption Agreement involving Fair Lanes, Inc. enabled the company to repurchase its own shares from shareholders according to the agreed terms. Various exhibits such as a share purchase agreement, share redemption notice, and certificate of stock redemption were used to facilitate the process. Different types of stock redemption agreements can be utilized based on the specific needs and circumstances of the company.