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: Nevada Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Nevada, sample, restricted stock purchase agreement, Intermark Inc., purchasers Introduction: The Nevada Sample Restricted Stock Purchase Agreement provides a comprehensive and legally binding framework for the acquisition of restricted stock by purchasers from Intermark, Inc. This agreement outlines the terms and conditions that govern the purchase, transfer, and ownership of restricted stock within the state of Nevada. Key Sections of the Agreement: 1. Parties: Identifies the involved parties, Intermark, Inc. as the issuer of the restricted stock, and the purchasers intending to acquire the restricted stock through this agreement. 2. Definitions: Provides a clear understanding of key terms used throughout the agreement, ensuring mutual agreement on specific terminology. 3. Stock Purchase: Outlines the conditions and procedures related to the purchase and sale of the restricted stock, including the number of shares, purchase price, and agreed consideration. 4. Restrictive Covenants: Establishes the restrictions and limitations imposed on the purchased restricted stock, including conditions on transferability, liquidation rights, redemption rights, and other limitations specific to the agreement. 5. Vesting Schedule: Defines the timeline and conditions under which the purchased restricted stock shall vest, ensuring compliance with Nevada laws and regulations. 6. Stockholder Rights: Enumerates the rights and privileges associated with stock ownership, such as voting rights, dividend entitlements, and preemptive rights, highlighting the respective rights of Intermark, Inc. and purchasers. 7. Termination and Remedies: Clarifies the circumstances under which the agreement may be terminated, the consequences of breach, and the available remedies for all parties involved. Additional Types of Nevada Sample Restricted Stock Purchase Agreements: 1. Founders Agreement: Specifically designed for startup companies, this agreement outlines the allocation and purchase of restricted stock among founders, incentivizing their commitment and aligning interests in the early stages of the company. 2. Employee Stock Purchase Agreement: Tailored for employees, this agreement allows for the purchase of restricted stock as part of an employee compensation package, subject to certain vesting criteria and employment terms. 3. Convertible Note Agreement with Restricted Stock: This agreement combines the issuance of convertible notes with the option to purchase restricted stock, providing a unique investment opportunity for purchasers, which can convert into stock ownership at a future date. Conclusion: The Nevada Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides an essential legal framework for the acquisition and transfer of restricted stock while ensuring compliance with Nevada state law. Different types of agreements cater to specific situations, such as Founders Agreements, Employee Stock Purchase Agreements, and Convertible Note Agreements with Restricted Stock, enabling customized solutions for various stakeholders.
Title: Nevada Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Nevada, sample, restricted stock purchase agreement, Intermark Inc., purchasers Introduction: The Nevada Sample Restricted Stock Purchase Agreement provides a comprehensive and legally binding framework for the acquisition of restricted stock by purchasers from Intermark, Inc. This agreement outlines the terms and conditions that govern the purchase, transfer, and ownership of restricted stock within the state of Nevada. Key Sections of the Agreement: 1. Parties: Identifies the involved parties, Intermark, Inc. as the issuer of the restricted stock, and the purchasers intending to acquire the restricted stock through this agreement. 2. Definitions: Provides a clear understanding of key terms used throughout the agreement, ensuring mutual agreement on specific terminology. 3. Stock Purchase: Outlines the conditions and procedures related to the purchase and sale of the restricted stock, including the number of shares, purchase price, and agreed consideration. 4. Restrictive Covenants: Establishes the restrictions and limitations imposed on the purchased restricted stock, including conditions on transferability, liquidation rights, redemption rights, and other limitations specific to the agreement. 5. Vesting Schedule: Defines the timeline and conditions under which the purchased restricted stock shall vest, ensuring compliance with Nevada laws and regulations. 6. Stockholder Rights: Enumerates the rights and privileges associated with stock ownership, such as voting rights, dividend entitlements, and preemptive rights, highlighting the respective rights of Intermark, Inc. and purchasers. 7. Termination and Remedies: Clarifies the circumstances under which the agreement may be terminated, the consequences of breach, and the available remedies for all parties involved. Additional Types of Nevada Sample Restricted Stock Purchase Agreements: 1. Founders Agreement: Specifically designed for startup companies, this agreement outlines the allocation and purchase of restricted stock among founders, incentivizing their commitment and aligning interests in the early stages of the company. 2. Employee Stock Purchase Agreement: Tailored for employees, this agreement allows for the purchase of restricted stock as part of an employee compensation package, subject to certain vesting criteria and employment terms. 3. Convertible Note Agreement with Restricted Stock: This agreement combines the issuance of convertible notes with the option to purchase restricted stock, providing a unique investment opportunity for purchasers, which can convert into stock ownership at a future date. Conclusion: The Nevada Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides an essential legal framework for the acquisition and transfer of restricted stock while ensuring compliance with Nevada state law. Different types of agreements cater to specific situations, such as Founders Agreements, Employee Stock Purchase Agreements, and Convertible Note Agreements with Restricted Stock, enabling customized solutions for various stakeholders.