Maryland 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 Maryland Sample Restricted Stock Purchase Agreement: Intermark, Inc. vs Purchasers This Maryland Sample Restricted Stock Purchase Agreement outlines the terms and conditions of a stock purchase agreement between Intermark, Inc. (hereinafter referred to as the "Company") and the Purchasers (hereinafter referred to as the "Purchasers"). It is important to note that this document serves as a template and can be customized to meet specific company requirements. The agreement primarily focuses on the purchase of restricted stock by the Purchasers from the Company. Restricted stock refers to shares of the Company's stock that are subject to certain restrictions, such as vesting periods or transferability limitations. Some key elements covered in this Maryland Sample Restricted Stock Purchase Agreement include: 1. Parties involved: The agreement clearly identifies Intermark, Inc. as the Company, along with the names of the Purchasers involved in the transaction. 2. Purchase Details: The document specifies the number of restricted shares being purchased by each Purchaser and the purchase price per share. 3. Restrictive Covenants: This agreement highlights the restrictions and conditions associated with the purchased shares, including any vesting schedules, transfer restrictions, or conditions for forfeiture. 4. Purchase Price Payment: It outlines the agreed-upon methods of payment for the stock purchase, whether by cash, check, wire transfer, or any other agreed-upon method. 5. Representations and Warranties: The agreement includes various representations and warranties made by both the Company and the Purchasers, ensuring the accuracy of information and compliance with legal requirements. 6. Governing Law: This Maryland Sample Restricted Stock Purchase Agreement specifies that Maryland state laws shall govern the interpretation, validity, and enforcement of the agreement. While variations of this Maryland Sample Restricted Stock Purchase Agreement may exist depending on individual circumstances, the template can be adapted to address specific requirements such as different purchase prices, conditions, and terms. By utilizing this Maryland Sample Restricted Stock Purchase Agreement, Intermark, Inc. and the Purchasers can ensure that their rights and obligations related to the purchase of restricted stock are effectively and legally documented. Disclaimer: This content is provided for informational purposes only and does not constitute legal advice. It is recommended to consult with a legal professional to ensure compliance with local laws and regulations when drafting and executing a Restricted Stock Purchase Agreement.

Maryland Sample Restricted Stock Purchase Agreement: Intermark, Inc. vs Purchasers This Maryland Sample Restricted Stock Purchase Agreement outlines the terms and conditions of a stock purchase agreement between Intermark, Inc. (hereinafter referred to as the "Company") and the Purchasers (hereinafter referred to as the "Purchasers"). It is important to note that this document serves as a template and can be customized to meet specific company requirements. The agreement primarily focuses on the purchase of restricted stock by the Purchasers from the Company. Restricted stock refers to shares of the Company's stock that are subject to certain restrictions, such as vesting periods or transferability limitations. Some key elements covered in this Maryland Sample Restricted Stock Purchase Agreement include: 1. Parties involved: The agreement clearly identifies Intermark, Inc. as the Company, along with the names of the Purchasers involved in the transaction. 2. Purchase Details: The document specifies the number of restricted shares being purchased by each Purchaser and the purchase price per share. 3. Restrictive Covenants: This agreement highlights the restrictions and conditions associated with the purchased shares, including any vesting schedules, transfer restrictions, or conditions for forfeiture. 4. Purchase Price Payment: It outlines the agreed-upon methods of payment for the stock purchase, whether by cash, check, wire transfer, or any other agreed-upon method. 5. Representations and Warranties: The agreement includes various representations and warranties made by both the Company and the Purchasers, ensuring the accuracy of information and compliance with legal requirements. 6. Governing Law: This Maryland Sample Restricted Stock Purchase Agreement specifies that Maryland state laws shall govern the interpretation, validity, and enforcement of the agreement. While variations of this Maryland Sample Restricted Stock Purchase Agreement may exist depending on individual circumstances, the template can be adapted to address specific requirements such as different purchase prices, conditions, and terms. By utilizing this Maryland Sample Restricted Stock Purchase Agreement, Intermark, Inc. and the Purchasers can ensure that their rights and obligations related to the purchase of restricted stock are effectively and legally documented. Disclaimer: This content is provided for informational purposes only and does not constitute legal advice. It is recommended to consult with a legal professional to ensure compliance with local laws and regulations when drafting and executing a Restricted Stock Purchase Agreement.