Louisiana 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 A Louisiana Sample Restricted Stock Purchase Agreement is a legally binding document between the company Intermark, Inc. and the purchasers of its restricted stock. This agreement outlines the terms and conditions under which the purchasers agree to acquire restricted stock from Intermark, Inc. within the state of Louisiana. The agreement generally includes essential information such as the names and addresses of both Intermark, Inc. and the purchasers, as well as the total number of restricted stock shares being purchased. It specifies the purchase price per share and the total consideration to be paid by the purchasers to Intermark, Inc. Additionally, the agreement defines the vesting schedule for the restricted stock and any restrictions on the transfer or sale of the shares. Louisiana offers various types of restricted stock purchase agreements that may be utilized by Intermark, Inc. and purchasers. These types can include: 1. Standard Restricted Stock Purchase Agreement: This agreement sets out the basic provisions for the purchase of restricted stock, such as the purchase price, restrictions on transfer, and vesting schedule. 2. Reverse Vesting Restricted Stock Purchase Agreement: In this type, the purchasers acquire restricted stock that is subject to reverse vesting. Reverse vesting means that the purchasers' ownership of the shares is gradually earned over time, rather than being immediately vested upon purchase. 3. Performance-Based Restricted Stock Purchase Agreement: This type of agreement grants the purchasers restricted stock based on achieving specific performance criteria or milestones. The agreement outlines the criteria and the consequences for failing to meet them. 4. Founders' Restricted Stock Purchase Agreement: Created specifically for company founders, this agreement allows founders to purchase restricted stock at a lower cost as they contribute significantly to the establishment of the company. It may include additional provisions related to the founders' roles and responsibilities. It's important for Intermark, Inc. and purchasers to consult legal professionals when drafting or entering into a Louisiana Sample Restricted Stock Purchase Agreement. This ensures that the agreement adheres to state laws, protects the interests of both parties, and meets any particular requirements specific to the circumstances of the purchase.

A Louisiana Sample Restricted Stock Purchase Agreement is a legally binding document between the company Intermark, Inc. and the purchasers of its restricted stock. This agreement outlines the terms and conditions under which the purchasers agree to acquire restricted stock from Intermark, Inc. within the state of Louisiana. The agreement generally includes essential information such as the names and addresses of both Intermark, Inc. and the purchasers, as well as the total number of restricted stock shares being purchased. It specifies the purchase price per share and the total consideration to be paid by the purchasers to Intermark, Inc. Additionally, the agreement defines the vesting schedule for the restricted stock and any restrictions on the transfer or sale of the shares. Louisiana offers various types of restricted stock purchase agreements that may be utilized by Intermark, Inc. and purchasers. These types can include: 1. Standard Restricted Stock Purchase Agreement: This agreement sets out the basic provisions for the purchase of restricted stock, such as the purchase price, restrictions on transfer, and vesting schedule. 2. Reverse Vesting Restricted Stock Purchase Agreement: In this type, the purchasers acquire restricted stock that is subject to reverse vesting. Reverse vesting means that the purchasers' ownership of the shares is gradually earned over time, rather than being immediately vested upon purchase. 3. Performance-Based Restricted Stock Purchase Agreement: This type of agreement grants the purchasers restricted stock based on achieving specific performance criteria or milestones. The agreement outlines the criteria and the consequences for failing to meet them. 4. Founders' Restricted Stock Purchase Agreement: Created specifically for company founders, this agreement allows founders to purchase restricted stock at a lower cost as they contribute significantly to the establishment of the company. It may include additional provisions related to the founders' roles and responsibilities. It's important for Intermark, Inc. and purchasers to consult legal professionals when drafting or entering into a Louisiana Sample Restricted Stock Purchase Agreement. This ensures that the agreement adheres to state laws, protects the interests of both parties, and meets any particular requirements specific to the circumstances of the purchase.