Kentucky Sample Amendment to Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders and Berkshire Taconic Community Foundation

• Category: Corporations - Public - Stock Purchase Sample
• State: Multi-State
• Control #: US-EG-9158
• Format: Word; Rich Text

Description

Amend. No. 1 to Stock Purch. Agr. btwn Wynn's International, Goshen Rubber Co., Inc., Wm. P. Johnson, shareholders & Berkshire Taconic Community Found. dated December 17, 1999. 9 pages The Kentucky Sample Amendment to Stock Purchase Agreement is a legally binding document that pertains to the transfer and purchase of stocks in the context of a specific agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders, and the Berkshire Laconic Community Foundation. This amendment serves as an addendum to the original Stock Purchase Agreement, introducing modifications to the existing terms and conditions. The Kentucky Sample Amendment includes crucial information and provisions that safeguard the interests of all parties involved in the stock purchase transaction. It ensures transparency, clarity, and legal compliance throughout the process. By incorporating relevant keywords, we can provide a more comprehensive description: 1. Parties involved: The Kentucky Sample Amendment involves Wynn's International, a renowned organization in the automotive industry, Goshen Rubber Co., Inc., a leading rubber manufacturing company, and their respective shareholders. Additionally, the Berkshire Laconic Community Foundation, a philanthropic organization based in Kentucky, plays a pivotal role in this agreement as the purchasing entity. 2. Purpose: The amendment outlines amendments made to the original Stock Purchase Agreement. It aims to address specific concerns, modify terms, or clarify certain provisions that may affect the stakeholders' rights, obligations, or liabilities. The customization of the agreement ensures its compliance with Kentucky state laws and regulations. 3. Transfer of stocks: The Kentucky Sample Amendment defines the terms regarding the execution and completion of the stock transfer process. This includes details about the number of shares, their classification, and valuation, ensuring an accurate and error-free transfer of ownership. 4. Consideration: The amendment states the consideration or price to be paid by the Berkshire Laconic Community Foundation in exchange for the transferred stocks. It elaborates on the payment terms, possibly including a payment schedule, acceptable methods of payment, and any associated interest or penalties. 5. Representations and warranties: It is common for stock purchase agreements to include representations and warranties made by both the selling shareholders and the purchasing entity. These affirmations deal with the accuracy of financial statements, the company's legal standing, intellectual property rights, existing obligations, and any undisclosed liabilities or litigation. 6. Indemnification and liabilities: This section of the amendment describes the mechanisms through which the parties protect themselves against any potential losses, damages, or legal consequences arising from the agreement. It clarifies the extent to which the parties are accountable for any breaches of the agreement, ensuring equitable distribution of risks. 7. Governing law and dispute resolution: As the amendment is specific to Kentucky, it explicitly mentions Kentucky state laws as governing the agreement. It also outlines the preferred method of resolving any disputes or claims that may arise, such as arbitration or mediation. 8. Effective date and execution: The amendment indicates the date on which it becomes effective, ensuring clarity regarding when the modified terms take effect. Furthermore, it specifies the necessary steps for executing the agreement, such as obtaining shareholder approvals or signatures from authorized representatives. It's worth noting that while the Kentucky Sample Amendment to Stock Purchase Agreement serves as a comprehensive framework, there might be additional types or variations of amendments tailored to individual circumstances. It is essential to consult legal professionals to ensure compliance with Kentucky laws and to address the unique needs and requirements of all parties involved.

The Kentucky Sample Amendment to Stock Purchase Agreement is a legally binding document that pertains to the transfer and purchase of stocks in the context of a specific agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders, and the Berkshire Laconic Community Foundation. This amendment serves as an addendum to the original Stock Purchase Agreement, introducing modifications to the existing terms and conditions. The Kentucky Sample Amendment includes crucial information and provisions that safeguard the interests of all parties involved in the stock purchase transaction. It ensures transparency, clarity, and legal compliance throughout the process. By incorporating relevant keywords, we can provide a more comprehensive description: 1. Parties involved: The Kentucky Sample Amendment involves Wynn's International, a renowned organization in the automotive industry, Goshen Rubber Co., Inc., a leading rubber manufacturing company, and their respective shareholders. Additionally, the Berkshire Laconic Community Foundation, a philanthropic organization based in Kentucky, plays a pivotal role in this agreement as the purchasing entity. 2. Purpose: The amendment outlines amendments made to the original Stock Purchase Agreement. It aims to address specific concerns, modify terms, or clarify certain provisions that may affect the stakeholders' rights, obligations, or liabilities. The customization of the agreement ensures its compliance with Kentucky state laws and regulations. 3. Transfer of stocks: The Kentucky Sample Amendment defines the terms regarding the execution and completion of the stock transfer process. This includes details about the number of shares, their classification, and valuation, ensuring an accurate and error-free transfer of ownership. 4. Consideration: The amendment states the consideration or price to be paid by the Berkshire Laconic Community Foundation in exchange for the transferred stocks. It elaborates on the payment terms, possibly including a payment schedule, acceptable methods of payment, and any associated interest or penalties. 5. Representations and warranties: It is common for stock purchase agreements to include representations and warranties made by both the selling shareholders and the purchasing entity. These affirmations deal with the accuracy of financial statements, the company's legal standing, intellectual property rights, existing obligations, and any undisclosed liabilities or litigation. 6. Indemnification and liabilities: This section of the amendment describes the mechanisms through which the parties protect themselves against any potential losses, damages, or legal consequences arising from the agreement. It clarifies the extent to which the parties are accountable for any breaches of the agreement, ensuring equitable distribution of risks. 7. Governing law and dispute resolution: As the amendment is specific to Kentucky, it explicitly mentions Kentucky state laws as governing the agreement. It also outlines the preferred method of resolving any disputes or claims that may arise, such as arbitration or mediation. 8. Effective date and execution: The amendment indicates the date on which it becomes effective, ensuring clarity regarding when the modified terms take effect. Furthermore, it specifies the necessary steps for executing the agreement, such as obtaining shareholder approvals or signatures from authorized representatives. It's worth noting that while the Kentucky Sample Amendment to Stock Purchase Agreement serves as a comprehensive framework, there might be additional types or variations of amendments tailored to individual circumstances. It is essential to consult legal professionals to ensure compliance with Kentucky laws and to address the unique needs and requirements of all parties involved.