Vermont 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 Vermont Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Overview: This Vermont Sample Restricted Stock Purchase Agreement is a legally binding contract between Intermark, Inc. (hereinafter referred to as the "Company") and the Purchasers, governing the purchase and sale of restricted stock. This agreement outlines the terms and conditions under which the Purchasers acquire the restricted stock issued by the Company. It establishes the rights, obligations, restrictions, and procedures related to the restricted stock purchase. Key Components: 1. Parties: This Agreement identifies the Company, as the issuer of the restricted stock, and the Purchasers, who are acquiring the stock. 2. Purchase Price: The Agreement specifies the purchase price per share of the restricted stock. 3. Restrictions and Vesting: The Agreement outlines the restrictions imposed on the restricted stock, such as transferability restrictions, voting limitations, and restrictions on the right to receive dividends. It also sets forth the vesting schedule, indicating the time period and conditions required for the Purchasers to become fully vested in the stock. 4. Securities Law Compliance: This section ensures that the issuance and sale of the restricted stock comply with applicable federal and state securities laws, including the filing of necessary notices or exemptions. 5. Voting and Dividends: The Agreement provides guidelines on the Purchasers' voting rights and clarifies whether they are entitled to receive dividends or other distributions during the restricted period. 6. Termination or Repurchase: The Agreement outlines the circumstances under which the Company has the right to terminate the agreement or repurchase the restricted stock from the Purchasers. 7. Representations and Warranties: Both the Company and Purchasers make certain representations and warranties regarding their authority to enter into this Agreement and the accuracy of the information provided. 8. Confidentiality and Non-Competition: This section may be included to address any confidentiality obligations or non-competition restrictions imposed on the Purchasers, prohibiting them from competing with the Company during or after the restricted period. Types of Vermont Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Employee Restricted Stock Purchase Agreement: This agreement is specific to employees of Intermark, Inc. who are offered restricted stock as part of their compensation package. 2. Investor Restricted Stock Purchase Agreement: This agreement is for investors or shareholders who wish to purchase restricted stock directly from Intermark, Inc. as a means of investment. 3. Stock Option Restricted Stock Purchase Agreement: This agreement combines elements of a stock option plan with the purchase of restricted stock, allowing the Purchasers to exercise their options and acquire restricted stock in exchange. 4. Founder Restricted Stock Purchase Agreement: This agreement is designed for founders of Intermark, Inc., detailing the purchase and restrictions placed on their shares to protect the interest of the company. Note: The specific terms, conditions, and clauses of each Vermont Sample Restricted Stock Purchase Agreement may vary depending on the unique circumstances and negotiation between Intermark, Inc. and the Purchasers.

Vermont Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Overview: This Vermont Sample Restricted Stock Purchase Agreement is a legally binding contract between Intermark, Inc. (hereinafter referred to as the "Company") and the Purchasers, governing the purchase and sale of restricted stock. This agreement outlines the terms and conditions under which the Purchasers acquire the restricted stock issued by the Company. It establishes the rights, obligations, restrictions, and procedures related to the restricted stock purchase. Key Components: 1. Parties: This Agreement identifies the Company, as the issuer of the restricted stock, and the Purchasers, who are acquiring the stock. 2. Purchase Price: The Agreement specifies the purchase price per share of the restricted stock. 3. Restrictions and Vesting: The Agreement outlines the restrictions imposed on the restricted stock, such as transferability restrictions, voting limitations, and restrictions on the right to receive dividends. It also sets forth the vesting schedule, indicating the time period and conditions required for the Purchasers to become fully vested in the stock. 4. Securities Law Compliance: This section ensures that the issuance and sale of the restricted stock comply with applicable federal and state securities laws, including the filing of necessary notices or exemptions. 5. Voting and Dividends: The Agreement provides guidelines on the Purchasers' voting rights and clarifies whether they are entitled to receive dividends or other distributions during the restricted period. 6. Termination or Repurchase: The Agreement outlines the circumstances under which the Company has the right to terminate the agreement or repurchase the restricted stock from the Purchasers. 7. Representations and Warranties: Both the Company and Purchasers make certain representations and warranties regarding their authority to enter into this Agreement and the accuracy of the information provided. 8. Confidentiality and Non-Competition: This section may be included to address any confidentiality obligations or non-competition restrictions imposed on the Purchasers, prohibiting them from competing with the Company during or after the restricted period. Types of Vermont Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers: 1. Employee Restricted Stock Purchase Agreement: This agreement is specific to employees of Intermark, Inc. who are offered restricted stock as part of their compensation package. 2. Investor Restricted Stock Purchase Agreement: This agreement is for investors or shareholders who wish to purchase restricted stock directly from Intermark, Inc. as a means of investment. 3. Stock Option Restricted Stock Purchase Agreement: This agreement combines elements of a stock option plan with the purchase of restricted stock, allowing the Purchasers to exercise their options and acquire restricted stock in exchange. 4. Founder Restricted Stock Purchase Agreement: This agreement is designed for founders of Intermark, Inc., detailing the purchase and restrictions placed on their shares to protect the interest of the company. Note: The specific terms, conditions, and clauses of each Vermont Sample Restricted Stock Purchase Agreement may vary depending on the unique circumstances and negotiation between Intermark, Inc. and the Purchasers.