Florida 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 Title: Florida Sample Restricted Stock Purchase Agreement: A Comprehensive Overview Introduction: The Florida Sample Restricted Stock Purchase Agreement is a legally binding contract between Intermark, Inc. (the "Company") and one or more Purchasers (the "Purchasers") intending to acquire restricted stock in the company. This document outlines the terms, conditions, and restrictions associated with the purchase of restricted stock, ensuring compliance with pertinent Florida laws. Key Terms and Provisions: 1. Parties Involved: The Agreement clearly identifies the participating parties, namely Intermark, Inc. as the issuer of restricted stock, and the Purchasers seeking to invest in the company. 2. Purchase Price and Payment Terms: This section defines the purchase price of the restricted stock and outlines the agreed-upon payment terms, including any installment options, payment milestones, or acceptable modes of payment. 3. Stock Restriction Period: The Agreement sets forth the duration during which the purchased stock is restricted from being freely transferred or sold. It outlines the specific restrictions and conditions applicable during this period. 4. Restriction Exceptions: The document may detail certain exceptions to the stock restriction, such as transfers or sales permitted under specific circumstances, including legal obligations, death, disability, or upon the approval of the Company. 5. Vesting Terms: If applicable, the Agreement outlines the vesting schedule, which determines when and how the restricted stock will become fully owned by the Purchasers. It may specify the time-based or performance-based criteria that must be satisfied for vesting. 6. Termination or Expiration: This section clarifies the conditions under which the Agreement may terminate or expire, including instances where the Purchaser withdraws or the Company ceases operations. It also addresses the rights and obligations of the parties upon termination. 7. Voting Rights: The Agreement can address the voting rights associated with the restricted stock, including whether Purchasers have the ability to vote on matters of the company's governance or elect directors. Types of Florida Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Florida Sample Restricted Stock Purchase Agreement with Vesting: This agreement may include a vesting schedule, ensuring that Purchasers earn ownership of the restricted stock over a defined period based on performance or tenure. 2. Florida Sample Restricted Stock Purchase Agreement without Vesting: In cases where immediate ownership of restricted stock is desired, this agreement omits any vesting provisions, enabling Purchasers to have immediate control over the stock. 3. Florida Sample Restricted Stock Purchase Agreement with Exceptional Transfer Rights: This agreement may include specific exceptions that allow the Purchasers to transfer or sell the restricted stock under exceptional circumstances, subject to the approval of the Company. Conclusion: The Florida Sample Restricted Stock Purchase Agreement serves as an essential legal document that outlines the terms, conditions, and restrictions regarding the purchase of restricted stock. It ensures a clear understanding between Intermark, Inc. and the Purchasers, providing a solid foundation for their ongoing relationship and investment in the company.

Title: Florida Sample Restricted Stock Purchase Agreement: A Comprehensive Overview Introduction: The Florida Sample Restricted Stock Purchase Agreement is a legally binding contract between Intermark, Inc. (the "Company") and one or more Purchasers (the "Purchasers") intending to acquire restricted stock in the company. This document outlines the terms, conditions, and restrictions associated with the purchase of restricted stock, ensuring compliance with pertinent Florida laws. Key Terms and Provisions: 1. Parties Involved: The Agreement clearly identifies the participating parties, namely Intermark, Inc. as the issuer of restricted stock, and the Purchasers seeking to invest in the company. 2. Purchase Price and Payment Terms: This section defines the purchase price of the restricted stock and outlines the agreed-upon payment terms, including any installment options, payment milestones, or acceptable modes of payment. 3. Stock Restriction Period: The Agreement sets forth the duration during which the purchased stock is restricted from being freely transferred or sold. It outlines the specific restrictions and conditions applicable during this period. 4. Restriction Exceptions: The document may detail certain exceptions to the stock restriction, such as transfers or sales permitted under specific circumstances, including legal obligations, death, disability, or upon the approval of the Company. 5. Vesting Terms: If applicable, the Agreement outlines the vesting schedule, which determines when and how the restricted stock will become fully owned by the Purchasers. It may specify the time-based or performance-based criteria that must be satisfied for vesting. 6. Termination or Expiration: This section clarifies the conditions under which the Agreement may terminate or expire, including instances where the Purchaser withdraws or the Company ceases operations. It also addresses the rights and obligations of the parties upon termination. 7. Voting Rights: The Agreement can address the voting rights associated with the restricted stock, including whether Purchasers have the ability to vote on matters of the company's governance or elect directors. Types of Florida Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Florida Sample Restricted Stock Purchase Agreement with Vesting: This agreement may include a vesting schedule, ensuring that Purchasers earn ownership of the restricted stock over a defined period based on performance or tenure. 2. Florida Sample Restricted Stock Purchase Agreement without Vesting: In cases where immediate ownership of restricted stock is desired, this agreement omits any vesting provisions, enabling Purchasers to have immediate control over the stock. 3. Florida Sample Restricted Stock Purchase Agreement with Exceptional Transfer Rights: This agreement may include specific exceptions that allow the Purchasers to transfer or sell the restricted stock under exceptional circumstances, subject to the approval of the Company. Conclusion: The Florida Sample Restricted Stock Purchase Agreement serves as an essential legal document that outlines the terms, conditions, and restrictions regarding the purchase of restricted stock. It ensures a clear understanding between Intermark, Inc. and the Purchasers, providing a solid foundation for their ongoing relationship and investment in the company.