New Hampshire 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: New Hampshire Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Introduction: A New Hampshire Sample Restricted Stock Purchase Agreement serves as a legally binding document between Intermark, Inc. (the "Company") and Purchasers, outlining the terms and conditions of stock purchase in a restricted manner. The agreement aims to protect the interests of both parties involved, ensuring a transparent and secure transaction. Below, we outline the key elements of this agreement, along with potential variations that may exist. 1. Parties involved: The agreement is between Intermark, Inc., a company incorporated under the laws of New Hampshire, and the Purchasers, who are individuals or entities interested in acquiring restricted stocks issued by Intermark, Inc. 2. Purchase Terms: a. Number of Shares: Clearly define the number of restricted shares being sold/purchased. b. Purchase Price: Specify the price per share that the Purchasers will pay. c. Payment Method: Outline the acceptable methods of payment. d. Closing Date: Determine the date on which the transfer of shares is effective. 3. Restricted Stock Conditions: a. Vesting Schedule: Establish a schedule for the release of the restricted shares over a specific period, linked to the Purchasers' continued employment or adherence to predefined performance criteria. b. Lapse of Restrictions: Clarify the conditions under which restrictions lapse, such as the achievement of specific targets or the completion of a predetermined timeframe. c. Forfeiture: Outline the consequences for breaching the terms of the agreement, including the circumstances under which the Company may repurchase the shares. 4. Representations and Warranties: Both parties should include a section that confirms the accuracy of all information provided, such as the Purchasers' capacity to enter into the agreement and the Company's authority to issue the shares. 5. Governing Law and Jurisdiction: Specify that the agreement will be governed by the laws of the state of New Hampshire and identify the appropriate jurisdiction for dispute resolution. Different Types of New Hampshire Sample Restricted Stock Purchase Agreements: 1. Employee Stock Option Agreement: A variation of the agreement tailored specifically for employees of Intermark, Inc. 2. Founder's Stock Purchase Agreement: A specialized agreement for individuals who were among the founders of Intermark, Inc., outlining their stock purchase rights and restrictions. 3. Investor Stock Purchase Agreement: A unique agreement drafted to cater to investors interested in purchasing restricted stocks from Intermark, Inc., and includes specific clauses pertaining to investor protection. Conclusion: The New Hampshire Sample Restricted Stock Purchase Agreement is vital for Intermark, Inc. and Purchasers to establish clear guidelines related to stock transactions, restrictions, and rights. By utilizing a well-drafted agreement, both parties can enter into a mutually beneficial arrangement while ensuring compliance with New Hampshire laws.

Title: New Hampshire Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Introduction: A New Hampshire Sample Restricted Stock Purchase Agreement serves as a legally binding document between Intermark, Inc. (the "Company") and Purchasers, outlining the terms and conditions of stock purchase in a restricted manner. The agreement aims to protect the interests of both parties involved, ensuring a transparent and secure transaction. Below, we outline the key elements of this agreement, along with potential variations that may exist. 1. Parties involved: The agreement is between Intermark, Inc., a company incorporated under the laws of New Hampshire, and the Purchasers, who are individuals or entities interested in acquiring restricted stocks issued by Intermark, Inc. 2. Purchase Terms: a. Number of Shares: Clearly define the number of restricted shares being sold/purchased. b. Purchase Price: Specify the price per share that the Purchasers will pay. c. Payment Method: Outline the acceptable methods of payment. d. Closing Date: Determine the date on which the transfer of shares is effective. 3. Restricted Stock Conditions: a. Vesting Schedule: Establish a schedule for the release of the restricted shares over a specific period, linked to the Purchasers' continued employment or adherence to predefined performance criteria. b. Lapse of Restrictions: Clarify the conditions under which restrictions lapse, such as the achievement of specific targets or the completion of a predetermined timeframe. c. Forfeiture: Outline the consequences for breaching the terms of the agreement, including the circumstances under which the Company may repurchase the shares. 4. Representations and Warranties: Both parties should include a section that confirms the accuracy of all information provided, such as the Purchasers' capacity to enter into the agreement and the Company's authority to issue the shares. 5. Governing Law and Jurisdiction: Specify that the agreement will be governed by the laws of the state of New Hampshire and identify the appropriate jurisdiction for dispute resolution. Different Types of New Hampshire Sample Restricted Stock Purchase Agreements: 1. Employee Stock Option Agreement: A variation of the agreement tailored specifically for employees of Intermark, Inc. 2. Founder's Stock Purchase Agreement: A specialized agreement for individuals who were among the founders of Intermark, Inc., outlining their stock purchase rights and restrictions. 3. Investor Stock Purchase Agreement: A unique agreement drafted to cater to investors interested in purchasing restricted stocks from Intermark, Inc., and includes specific clauses pertaining to investor protection. Conclusion: The New Hampshire Sample Restricted Stock Purchase Agreement is vital for Intermark, Inc. and Purchasers to establish clear guidelines related to stock transactions, restrictions, and rights. By utilizing a well-drafted agreement, both parties can enter into a mutually beneficial arrangement while ensuring compliance with New Hampshire laws.