Massachusetts 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: Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Massachusetts, Sample, Restricted Stock Purchase Agreement, Intermark Inc, Purchasers Introduction: The Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers outlines the terms and conditions surrounding the purchase of restricted stock by the purchasers. This comprehensive agreement serves as a legally binding document that defines the rights and responsibilities of both Intermark, Inc. and the purchasers involved in the transaction. 1. Parties Involved: a. Intermark, Inc.: A Massachusetts-based company engaged in the business of [specify company's business activities]. b. Purchasers: Individual(s) or entity(IES) interested in acquiring restricted stock in Intermark, Inc. 2. Restriction on Stock: The agreement establishes certain restrictions on the stock purchased by the buyers. These restrictions may include holding periods, transfer restrictions, and limitations on the ability to sell or transfer the stock. 3. Purchase Price: The agreement states the purchase price for the restricted stock, which can be a fixed amount, a percentage of the company's valuation, or any other agreed-upon method of determining the price. Detailed provisions may be included to address payment terms, such as installments or lump sum payment. 4. Stock Vesting: The agreement specifies the vesting schedule for the purchased restricted stock. Vesting refers to the process by which the purchasers gain ownership rights over the stock over a defined period of time or based on achieving specific milestones. 5. Rights and Obligations: a. Intermark, Inc.: The agreement outlines the rights and obligations of Intermark, Inc., including the granting of restricted stock, compliance with securities laws, and the maintenance of accurate records of stock ownership. b. Purchasers: The agreement addresses the purchasers' obligations, such as complying with restrictions, confidentiality requirements, and providing relevant information when requested by Intermark, Inc. 6. Transfer Restrictions: The agreement may include provisions that restrict the ability of purchasers to sell or transfer the restricted stock without the consent of Intermark, Inc. This ensures that the stock remains within a limited group of individuals or entities. 7. Termination and Forfeiture: The agreement covers circumstances that may result in the termination of the restricted stock purchase agreement and the consequences of such termination. This can include the forfeiture of rights and return of stock to Intermark, Inc. 8. Governing Law: The agreement specifies that Massachusetts state law governs the terms and interpretation of the agreement and any disputes that may arise. Types of Massachusetts Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Standard Restricted Stock Purchase Agreement: This agreement outlines the purchase of restricted stock without any specific additional provisions or customization. 2. Vesting-based Restricted Stock Purchase Agreement: This agreement incorporates a detailed vesting schedule for the purchased restricted stock, specifying the timeframes or milestones required for complete ownership. 3. Performance-based Restricted Stock Purchase Agreement: This agreement includes performance-related criteria that need to be met before the stock vests fully, often tied to the company's financial or operational goals. Conclusion: The Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides a comprehensive framework for a secure and transparent transaction involving the purchase of restricted stock. It ensures the rights and obligations of both Intermark, Inc. and the purchasers are clearly defined, protecting the interests of all parties involved.

Title: Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Massachusetts, Sample, Restricted Stock Purchase Agreement, Intermark Inc, Purchasers Introduction: The Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers outlines the terms and conditions surrounding the purchase of restricted stock by the purchasers. This comprehensive agreement serves as a legally binding document that defines the rights and responsibilities of both Intermark, Inc. and the purchasers involved in the transaction. 1. Parties Involved: a. Intermark, Inc.: A Massachusetts-based company engaged in the business of [specify company's business activities]. b. Purchasers: Individual(s) or entity(IES) interested in acquiring restricted stock in Intermark, Inc. 2. Restriction on Stock: The agreement establishes certain restrictions on the stock purchased by the buyers. These restrictions may include holding periods, transfer restrictions, and limitations on the ability to sell or transfer the stock. 3. Purchase Price: The agreement states the purchase price for the restricted stock, which can be a fixed amount, a percentage of the company's valuation, or any other agreed-upon method of determining the price. Detailed provisions may be included to address payment terms, such as installments or lump sum payment. 4. Stock Vesting: The agreement specifies the vesting schedule for the purchased restricted stock. Vesting refers to the process by which the purchasers gain ownership rights over the stock over a defined period of time or based on achieving specific milestones. 5. Rights and Obligations: a. Intermark, Inc.: The agreement outlines the rights and obligations of Intermark, Inc., including the granting of restricted stock, compliance with securities laws, and the maintenance of accurate records of stock ownership. b. Purchasers: The agreement addresses the purchasers' obligations, such as complying with restrictions, confidentiality requirements, and providing relevant information when requested by Intermark, Inc. 6. Transfer Restrictions: The agreement may include provisions that restrict the ability of purchasers to sell or transfer the restricted stock without the consent of Intermark, Inc. This ensures that the stock remains within a limited group of individuals or entities. 7. Termination and Forfeiture: The agreement covers circumstances that may result in the termination of the restricted stock purchase agreement and the consequences of such termination. This can include the forfeiture of rights and return of stock to Intermark, Inc. 8. Governing Law: The agreement specifies that Massachusetts state law governs the terms and interpretation of the agreement and any disputes that may arise. Types of Massachusetts Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Standard Restricted Stock Purchase Agreement: This agreement outlines the purchase of restricted stock without any specific additional provisions or customization. 2. Vesting-based Restricted Stock Purchase Agreement: This agreement incorporates a detailed vesting schedule for the purchased restricted stock, specifying the timeframes or milestones required for complete ownership. 3. Performance-based Restricted Stock Purchase Agreement: This agreement includes performance-related criteria that need to be met before the stock vests fully, often tied to the company's financial or operational goals. Conclusion: The Massachusetts Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides a comprehensive framework for a secure and transparent transaction involving the purchase of restricted stock. It ensures the rights and obligations of both Intermark, Inc. and the purchasers are clearly defined, protecting the interests of all parties involved.