Montana 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: Montana Sample Restricted Stock Purchase Agreement: An In-depth Insight Introduction: Montana Sample Restricted Stock Purchase Agreement is a legal document that outlines the terms and conditions of the purchase of restricted stock between Intermark, Inc. (the "Company") and the Purchasers. This agreement governs the sale of restricted stock, which is a unique form of equity compensation that comes with certain restrictions and conditions. Key Terms and Provisions: 1. Parties Involved: The Agreement identifies the parties involved, i.e., Intermark, Inc. and the Purchasers. It includes their contact details, addresses, and identification information. 2. Purchase of Stock: The Agreement specifies the number of shares being purchased and the purchase price per share. It outlines the agreed-upon transaction structure and payment terms, such as upfront payment, installments, or others mutually agreed arrangements. 3. Restrictions and Vesting: This Agreement discusses the restrictions and vesting provisions associated with the purchased stock. It outlines the duration and nature of these restrictions, including any performance milestones, time-based vesting schedules, or other conditions that must be met for the stock to become fully transferable or unrestricted. 4. Transferability: This section addresses any limitations on the transfer or sale of the restricted stock. It details the circumstances under which the stock may be sold, transferred, or assigned, as well as any necessary consents, approvals, or restrictions imposed by applicable laws or regulations. 5. Termination and Forfeiture: The Agreement covers the consequences of termination of employment or other triggering events. It outlines whether the restricted stock will be forfeited, repurchased by the Company, or remain vested based on pre-defined criteria. 6. Confidentiality and Non-Competition: This section may include provisions covering confidentiality obligations and non-competition restrictions that the Purchasers must adhere to during and after their ownership of restricted stock. Types of Montana Sample Restricted Stock Purchase Agreements: 1. Montana Sample Restricted Stock Purchase Agreement — Founders: This agreement is tailored for the founders or original members of a company who are purchasing restricted stock at an early stage. 2. Montana Sample Restricted Stock Purchase Agreement — Employees: This agreement is specific to restrict stock purchases made by employees of Intermark, Inc. 3. Montana Sample Restricted Stock Purchase Agreement — Consultants: This agreement caters to consultants or contractors who are purchasing restricted stock as compensation for their services rendered to Intermark, Inc. Conclusion: The Montana Sample Restricted Stock Purchase Agreement is crucial for establishing a clear understanding between Intermark, Inc. and the Purchasers regarding the purchase of restricted stock. By defining the terms, conditions, and restrictions associated with such purchases, this legally binding document protects both parties' rights and interests, ensuring a transparent and fair agreement.

Title: Montana Sample Restricted Stock Purchase Agreement: An In-depth Insight Introduction: Montana Sample Restricted Stock Purchase Agreement is a legal document that outlines the terms and conditions of the purchase of restricted stock between Intermark, Inc. (the "Company") and the Purchasers. This agreement governs the sale of restricted stock, which is a unique form of equity compensation that comes with certain restrictions and conditions. Key Terms and Provisions: 1. Parties Involved: The Agreement identifies the parties involved, i.e., Intermark, Inc. and the Purchasers. It includes their contact details, addresses, and identification information. 2. Purchase of Stock: The Agreement specifies the number of shares being purchased and the purchase price per share. It outlines the agreed-upon transaction structure and payment terms, such as upfront payment, installments, or others mutually agreed arrangements. 3. Restrictions and Vesting: This Agreement discusses the restrictions and vesting provisions associated with the purchased stock. It outlines the duration and nature of these restrictions, including any performance milestones, time-based vesting schedules, or other conditions that must be met for the stock to become fully transferable or unrestricted. 4. Transferability: This section addresses any limitations on the transfer or sale of the restricted stock. It details the circumstances under which the stock may be sold, transferred, or assigned, as well as any necessary consents, approvals, or restrictions imposed by applicable laws or regulations. 5. Termination and Forfeiture: The Agreement covers the consequences of termination of employment or other triggering events. It outlines whether the restricted stock will be forfeited, repurchased by the Company, or remain vested based on pre-defined criteria. 6. Confidentiality and Non-Competition: This section may include provisions covering confidentiality obligations and non-competition restrictions that the Purchasers must adhere to during and after their ownership of restricted stock. Types of Montana Sample Restricted Stock Purchase Agreements: 1. Montana Sample Restricted Stock Purchase Agreement — Founders: This agreement is tailored for the founders or original members of a company who are purchasing restricted stock at an early stage. 2. Montana Sample Restricted Stock Purchase Agreement — Employees: This agreement is specific to restrict stock purchases made by employees of Intermark, Inc. 3. Montana Sample Restricted Stock Purchase Agreement — Consultants: This agreement caters to consultants or contractors who are purchasing restricted stock as compensation for their services rendered to Intermark, Inc. Conclusion: The Montana Sample Restricted Stock Purchase Agreement is crucial for establishing a clear understanding between Intermark, Inc. and the Purchasers regarding the purchase of restricted stock. By defining the terms, conditions, and restrictions associated with such purchases, this legally binding document protects both parties' rights and interests, ensuring a transparent and fair agreement.