Harris Texas Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Harris
• 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: Harris Texas Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Harris Texas, Sample Restricted Stock Purchase Agreement, Intermark, Inc., Purchasers Introduction: This article provides a detailed description of a Harris Texas Sample Restricted Stock Purchase Agreement entered into between Intermark, Inc. and Purchasers. The agreement outlines the terms and conditions related to the purchase of restricted stock by interested purchasers from Intermark, Inc. Within the Harris Texas jurisdiction, there may be variations of this specific agreement. 1. Overview of the Agreement: The Harris Texas Sample Restricted Stock Purchase Agreement is a legal document that governs the purchase and sale of restricted stock between Intermark, Inc. (the "Company") and the Purchasers. The agreement entails various terms and provisions aimed at protecting the interests of both parties involved. 2. Parties Involved: a) Intermark, Inc. — The Company offering the restricted stock for purchase. b) Purchasers — Individuals or entities interested in acquiring the restricted stock. 3. Purpose of the Agreement: The agreement serves multiple purposes, including providing a framework for the legal transfer of restricted stock, establishing rights and obligations of both parties, and offering protection against potential conflicts or disputes that may arise during the transaction. 4. Agreement Components: a) Purchase Price: Specifies the price at which the restricted stock shall be sold to the Purchasers. b) Payment Terms: Describes the agreed-upon payment methods, due dates, and any installment plans. c) Stock Restrictions: Outlines the limitations and restrictions associated with the purchased stock, such as transfer restrictions, holding periods, and compliance with applicable laws and regulations. d) Representations and Warranties: Statements made by both parties regarding their legal authority, accuracy of information, and compliance with relevant laws. e) Non-Disclosure and Non-Compete: Clauses pertaining to the protection of confidential information and the restriction of competition by the Purchasers. f) Termination and Remedies: Specifies conditions under which the agreement may be terminated and the remedies available to either party in case of breach or default. Types of Harris Texas Sample Restricted Stock Purchase Agreements: 1. Harris Texas Sample Restricted Stock Purchase Agreement — Individual Purchasers: This type of agreement is tailored for individual purchasers who wish to buy restricted stock from Intermark, Inc. 2. Harris Texas Sample Restricted Stock Purchase Agreement — Entity Purchasers: Specifically designed for entities (corporations, partnerships, etc.) interested in purchasing restricted stock from Intermark, Inc. Conclusion: The Harris Texas Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides a comprehensive framework for the legal purchase and transfer of restricted stock. Its purpose is to safeguard the rights and interests of both parties involved and guarantee compliance with applicable laws and regulations. Whether for individual or entity purchasers, these agreements ensure transparency and mitigate potential conflicts throughout the process.

Title: Harris Texas Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers Keywords: Harris Texas, Sample Restricted Stock Purchase Agreement, Intermark, Inc., Purchasers Introduction: This article provides a detailed description of a Harris Texas Sample Restricted Stock Purchase Agreement entered into between Intermark, Inc. and Purchasers. The agreement outlines the terms and conditions related to the purchase of restricted stock by interested purchasers from Intermark, Inc. Within the Harris Texas jurisdiction, there may be variations of this specific agreement. 1. Overview of the Agreement: The Harris Texas Sample Restricted Stock Purchase Agreement is a legal document that governs the purchase and sale of restricted stock between Intermark, Inc. (the "Company") and the Purchasers. The agreement entails various terms and provisions aimed at protecting the interests of both parties involved. 2. Parties Involved: a) Intermark, Inc. — The Company offering the restricted stock for purchase. b) Purchasers — Individuals or entities interested in acquiring the restricted stock. 3. Purpose of the Agreement: The agreement serves multiple purposes, including providing a framework for the legal transfer of restricted stock, establishing rights and obligations of both parties, and offering protection against potential conflicts or disputes that may arise during the transaction. 4. Agreement Components: a) Purchase Price: Specifies the price at which the restricted stock shall be sold to the Purchasers. b) Payment Terms: Describes the agreed-upon payment methods, due dates, and any installment plans. c) Stock Restrictions: Outlines the limitations and restrictions associated with the purchased stock, such as transfer restrictions, holding periods, and compliance with applicable laws and regulations. d) Representations and Warranties: Statements made by both parties regarding their legal authority, accuracy of information, and compliance with relevant laws. e) Non-Disclosure and Non-Compete: Clauses pertaining to the protection of confidential information and the restriction of competition by the Purchasers. f) Termination and Remedies: Specifies conditions under which the agreement may be terminated and the remedies available to either party in case of breach or default. Types of Harris Texas Sample Restricted Stock Purchase Agreements: 1. Harris Texas Sample Restricted Stock Purchase Agreement — Individual Purchasers: This type of agreement is tailored for individual purchasers who wish to buy restricted stock from Intermark, Inc. 2. Harris Texas Sample Restricted Stock Purchase Agreement — Entity Purchasers: Specifically designed for entities (corporations, partnerships, etc.) interested in purchasing restricted stock from Intermark, Inc. Conclusion: The Harris Texas Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers provides a comprehensive framework for the legal purchase and transfer of restricted stock. Its purpose is to safeguard the rights and interests of both parties involved and guarantee compliance with applicable laws and regulations. Whether for individual or entity purchasers, these agreements ensure transparency and mitigate potential conflicts throughout the process.