Kentucky 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 Kentucky Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a legally binding contract that outlines the terms and conditions of the purchase and sale of restricted stock between Intermark, Inc. and the purchasers. This agreement ensures a fair and transparent transaction that protects the rights and obligations of both parties involved. The Kentucky Sample Restricted Stock Purchase Agreement includes various key clauses to cover all essential aspects of the stock purchase. These typically encompass: 1. Parties Involved: Clearly identifies Intermark, Inc. as the company issuing the restricted stock and specifies the purchasers' names and addresses. 2. Purchase and Sale: Specifies the number of restricted stock shares being offered by Intermark, Inc. for purchase, along with their par value, purchase price, and the total consideration paid by purchasers. 3. Restricted Stock Restrictions: Outlines the restrictions associated with the purchased shares, such as limitations on transferability, voting rights, dividend rights, and other restrictions imposed by federal or state securities laws. 4. Representations and Warranties: Contains representations made by the purchasers about their financial ability, understanding of the risks involved, compliance with laws and regulations, and absence of conflicts of interest. 5. Closing Conditions: Details the conditions required for the completion of the stock purchase, including necessary approvals, consents, and completion of legal formalities. 6. Termination: Outlines the circumstances under which either party may terminate the agreement, such as mutual consent, breach of terms, or force majeure events. 7. Governing Law and Jurisdiction: Specifies that the agreement shall be interpreted and governed by the laws of the state of Kentucky and identifies the jurisdiction where disputes will be resolved. Types of Kentucky Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers may vary depending on specific circumstances. Some common variations include: 1. Employee Restricted Stock Purchase Agreement: This type of agreement is used when Intermark, Inc. offers restricted stock purchase options to its employees as part of their compensation package. 2. Investor Restricted Stock Purchase Agreement: When Intermark, Inc. seeks investors to infuse capital into the company, a variation of the agreement is used to outline the terms and conditions specific to investors purchasing restricted stocks. 3. Shareholder Restricted Stock Purchase Agreement: This agreement is utilized when existing shareholders of Intermark, Inc. wish to sell their restricted stock to other interested individuals or entities. In conclusion, the Kentucky Sample Restricted Stock Purchase Agreement ensures a comprehensive and legally sound framework for the purchase and sale of restricted stock between Intermark, Inc. and purchasers, while accommodating various variations based on the parties involved or the specific nature of the stock purchase transaction.

Kentucky Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a legally binding contract that outlines the terms and conditions of the purchase and sale of restricted stock between Intermark, Inc. and the purchasers. This agreement ensures a fair and transparent transaction that protects the rights and obligations of both parties involved. The Kentucky Sample Restricted Stock Purchase Agreement includes various key clauses to cover all essential aspects of the stock purchase. These typically encompass: 1. Parties Involved: Clearly identifies Intermark, Inc. as the company issuing the restricted stock and specifies the purchasers' names and addresses. 2. Purchase and Sale: Specifies the number of restricted stock shares being offered by Intermark, Inc. for purchase, along with their par value, purchase price, and the total consideration paid by purchasers. 3. Restricted Stock Restrictions: Outlines the restrictions associated with the purchased shares, such as limitations on transferability, voting rights, dividend rights, and other restrictions imposed by federal or state securities laws. 4. Representations and Warranties: Contains representations made by the purchasers about their financial ability, understanding of the risks involved, compliance with laws and regulations, and absence of conflicts of interest. 5. Closing Conditions: Details the conditions required for the completion of the stock purchase, including necessary approvals, consents, and completion of legal formalities. 6. Termination: Outlines the circumstances under which either party may terminate the agreement, such as mutual consent, breach of terms, or force majeure events. 7. Governing Law and Jurisdiction: Specifies that the agreement shall be interpreted and governed by the laws of the state of Kentucky and identifies the jurisdiction where disputes will be resolved. Types of Kentucky Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers may vary depending on specific circumstances. Some common variations include: 1. Employee Restricted Stock Purchase Agreement: This type of agreement is used when Intermark, Inc. offers restricted stock purchase options to its employees as part of their compensation package. 2. Investor Restricted Stock Purchase Agreement: When Intermark, Inc. seeks investors to infuse capital into the company, a variation of the agreement is used to outline the terms and conditions specific to investors purchasing restricted stocks. 3. Shareholder Restricted Stock Purchase Agreement: This agreement is utilized when existing shareholders of Intermark, Inc. wish to sell their restricted stock to other interested individuals or entities. In conclusion, the Kentucky Sample Restricted Stock Purchase Agreement ensures a comprehensive and legally sound framework for the purchase and sale of restricted stock between Intermark, Inc. and purchasers, while accommodating various variations based on the parties involved or the specific nature of the stock purchase transaction.