Rhode Island 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 Rhode Island Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers serves as a legally binding document that outlines the terms and conditions of the purchase of restricted stock between Intermark, Inc. and the purchasers. This agreement is designed to protect the interests of both parties involved and ensure a fair and transparent transaction. The agreement establishes the details of the restricted stock purchase, including the number of shares being purchased, the purchase price, and the type of restricted stock being acquired. It also specifies any restrictions or limitations on the sale, transfer, or disposition of the purchased stock. In the Rhode Island Sample Restricted Stock Purchase Agreement, various key elements are addressed to safeguard the rights and responsibilities of the parties involved. Some of these essential elements include: 1. Parties involved: The agreement clearly identifies Intermark, Inc. and the purchasers, including their legal names and addresses. This helps establish the legal relationship between the parties. 2. Purchase price: The agreement states the total purchase price for the restricted stock and outlines the payment terms, including whether it will be paid in a lump sum or installments. 3. Restricted stock provisions: The agreement defines the type of restricted stock being purchased, stating whether it is subject to vesting or other restrictions such as transfer restrictions, lock-up periods, or conditions for exemption. 4. Representations and warranties: Both Intermark, Inc. and the purchasers make certain representations and warranties to ensure the accuracy of the information provided and to safeguard against any potential legal issues or disputes down the line. 5. Exemptions and compliance: The agreement outlines any exemptions or compliance requirements with applicable state and federal securities laws, ensuring that the stock purchase is conducted in accordance with the relevant regulations. It is worth noting that while this description provides a general overview of a Rhode Island Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers, there may be different types or variations specific to the transaction or the parties involved. These variations could include customized clauses, provisions, or terms that address specific needs or circumstances. It is always recommended consulting with legal professionals familiar with Rhode Island state laws and regulations to ensure the agreement effectively reflects the intentions and protects the interests of all parties involved.

Rhode Island Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers serves as a legally binding document that outlines the terms and conditions of the purchase of restricted stock between Intermark, Inc. and the purchasers. This agreement is designed to protect the interests of both parties involved and ensure a fair and transparent transaction. The agreement establishes the details of the restricted stock purchase, including the number of shares being purchased, the purchase price, and the type of restricted stock being acquired. It also specifies any restrictions or limitations on the sale, transfer, or disposition of the purchased stock. In the Rhode Island Sample Restricted Stock Purchase Agreement, various key elements are addressed to safeguard the rights and responsibilities of the parties involved. Some of these essential elements include: 1. Parties involved: The agreement clearly identifies Intermark, Inc. and the purchasers, including their legal names and addresses. This helps establish the legal relationship between the parties. 2. Purchase price: The agreement states the total purchase price for the restricted stock and outlines the payment terms, including whether it will be paid in a lump sum or installments. 3. Restricted stock provisions: The agreement defines the type of restricted stock being purchased, stating whether it is subject to vesting or other restrictions such as transfer restrictions, lock-up periods, or conditions for exemption. 4. Representations and warranties: Both Intermark, Inc. and the purchasers make certain representations and warranties to ensure the accuracy of the information provided and to safeguard against any potential legal issues or disputes down the line. 5. Exemptions and compliance: The agreement outlines any exemptions or compliance requirements with applicable state and federal securities laws, ensuring that the stock purchase is conducted in accordance with the relevant regulations. It is worth noting that while this description provides a general overview of a Rhode Island Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers, there may be different types or variations specific to the transaction or the parties involved. These variations could include customized clauses, provisions, or terms that address specific needs or circumstances. It is always recommended consulting with legal professionals familiar with Rhode Island state laws and regulations to ensure the agreement effectively reflects the intentions and protects the interests of all parties involved.