Nebraska 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

Nebraska Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers This Nebraska Sample Restricted Stock Purchase Agreement is a legally binding contract between Intermark, Inc. (the "Company") and Purchasers (individuals or entities buying the restricted stock) in the state of Nebraska. This document outlines the terms and conditions governing the purchase of restricted stock by the Purchasers from the Company. In this agreement, the Company agrees to issue a specific number of restricted shares to the Purchasers at an agreed-upon price. The restricted stock is subject to certain restrictions and conditions as defined in the agreement, which aim to protect the interests of the Company while providing the Purchasers with potential financial benefits. The Nebraska Sample Restricted Stock Purchase Agreement includes various key elements such as: 1. Parties: A section introducing the participating parties, namely Intermark, Inc. and the Purchasers, providing their legal names and addresses for purposes of the agreement. 2. Purchase and Sale of Restricted Stock: This section outlines the number of restricted shares being sold by the Company to the Purchasers, along with the purchase price per share. It may also include provisions for payment terms and conditions. 3. Representations and Warranties: Both the Company and the Purchasers provide certain representations and warranties regarding their legal capacity, authority, and ability to enter into this agreement. 4. Restrictions and Vesting: This section specifies the restrictions imposed on the restricted stock, such as transferability limitations and vesting schedules. Vesting refers to the gradual acquisition of ownership rights over the restricted stock based on specified conditions, such as the passage of time or achievement of certain performance milestones. 5. Rights and Privileges of the Purchasers: This part details the rights and privileges that the Purchasers enjoy as holders of restricted stock, including dividend rights, voting rights, and rights in case of a corporate transaction or liquidity event. 6. Termination and Forfeiture: This section outlines the circumstances under which the restricted stock may be terminated or forfeited, such as a breach of contract by the Purchasers or termination of employment if the Purchasers are employees of the Company. 7. Dispute Resolution and Governing Law: This agreement may include provisions for resolving disputes through negotiation, mediation, or arbitration, as well as the applicable laws and jurisdiction governing the agreement. Nebraska Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a comprehensive legal document that ensures both the Company and the Purchasers are protected and have a clear understanding of their rights and obligations regarding the purchase and ownership of restricted stock.