Georgia 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: Georgia Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Georgia, Sample, Restricted Stock Purchase Agreement, Intermark, Inc., Purchasers Introduction: The Georgia Sample Restricted Stock Purchase Agreement, presented by Intermark, Inc., outlines the terms and conditions under which the company offers its stock to purchasers. This comprehensive agreement serves as a legally binding document, ensuring transparency and protection for both parties involved. Different types of Georgia Sample Restricted Stock Purchase Agreements may exist, including those tailored for specific industries or transaction types. 1. Parties Involved: This agreement is entered into between Intermark, Inc., a corporation registered in the state of Georgia, and the Purchasers, individuals or entities interested in acquiring restricted stock from Intermark, Inc. 2. Purpose: The purpose of this agreement is to define the terms and conditions for the purchase and ownership of restricted stock in Intermark, Inc. The agreement outlines the rights, obligations, and restrictions associated with such ownership. 3. Purchase Details: a. Number of Shares: Specifies the number of shares being purchased by the Purchasers. b. Purchase Price: States the agreed-upon price at which the restricted stock is being sold. c. Payment Terms: Outlines the methods and timelines for payment, including any installment plans. 4. Vesting Schedule: a. Vesting Period: Specifies the duration during which the purchased stock is subject to restrictions. b. Vesting Conditions: Describes the conditions under which the restrictions will be lifted, granting unrestricted ownership rights to the Purchasers. 5. Transfer Restrictions: a. Lock-Up Period: States the time period during which the Purchasers are restricted from transferring or selling the acquired restricted stock. b. Exceptions: Indicates any exemptions or circumstances under which transfers may be allowed during the lock-up period. 6. Rights and Obligations of the Purchasers: a. Dividends and Voting Rights: Clarifies whether the Purchasers are entitled to dividends and/or voting rights associated with their restricted stock. b. Dilution Protection: Outlines mechanisms to protect the Purchasers from dilution in case of future stock issuance or corporate actions. 7. Termination: a. Termination Events: Identifies the events that may lead to the termination of this agreement. b. Consequences of Termination: Details the effects and obligations upon termination, including any rights of repurchase by Intermark, Inc. 8. Governing Law and Jurisdiction: States that the agreement is governed by the laws of the state of Georgia and designates the jurisdiction where any disputes arising from this agreement will be resolved. Conclusion: The Georgia Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers ensures a clear understanding and protection of rights related to the purchase and ownership of restricted stock in Intermark, Inc. The detailed terms and conditions outlined in this agreement establish a secure framework for this transaction.

Title: Georgia Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Georgia, Sample, Restricted Stock Purchase Agreement, Intermark, Inc., Purchasers Introduction: The Georgia Sample Restricted Stock Purchase Agreement, presented by Intermark, Inc., outlines the terms and conditions under which the company offers its stock to purchasers. This comprehensive agreement serves as a legally binding document, ensuring transparency and protection for both parties involved. Different types of Georgia Sample Restricted Stock Purchase Agreements may exist, including those tailored for specific industries or transaction types. 1. Parties Involved: This agreement is entered into between Intermark, Inc., a corporation registered in the state of Georgia, and the Purchasers, individuals or entities interested in acquiring restricted stock from Intermark, Inc. 2. Purpose: The purpose of this agreement is to define the terms and conditions for the purchase and ownership of restricted stock in Intermark, Inc. The agreement outlines the rights, obligations, and restrictions associated with such ownership. 3. Purchase Details: a. Number of Shares: Specifies the number of shares being purchased by the Purchasers. b. Purchase Price: States the agreed-upon price at which the restricted stock is being sold. c. Payment Terms: Outlines the methods and timelines for payment, including any installment plans. 4. Vesting Schedule: a. Vesting Period: Specifies the duration during which the purchased stock is subject to restrictions. b. Vesting Conditions: Describes the conditions under which the restrictions will be lifted, granting unrestricted ownership rights to the Purchasers. 5. Transfer Restrictions: a. Lock-Up Period: States the time period during which the Purchasers are restricted from transferring or selling the acquired restricted stock. b. Exceptions: Indicates any exemptions or circumstances under which transfers may be allowed during the lock-up period. 6. Rights and Obligations of the Purchasers: a. Dividends and Voting Rights: Clarifies whether the Purchasers are entitled to dividends and/or voting rights associated with their restricted stock. b. Dilution Protection: Outlines mechanisms to protect the Purchasers from dilution in case of future stock issuance or corporate actions. 7. Termination: a. Termination Events: Identifies the events that may lead to the termination of this agreement. b. Consequences of Termination: Details the effects and obligations upon termination, including any rights of repurchase by Intermark, Inc. 8. Governing Law and Jurisdiction: States that the agreement is governed by the laws of the state of Georgia and designates the jurisdiction where any disputes arising from this agreement will be resolved. Conclusion: The Georgia Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers ensures a clear understanding and protection of rights related to the purchase and ownership of restricted stock in Intermark, Inc. The detailed terms and conditions outlined in this agreement establish a secure framework for this transaction.