Stock Repurchase Agreement With Accelerated

• Category: Corporations - Public - Stock Purchase Sample
• State: Multi-State
• Control #: US-EG-9129
• Format: Word; Rich Text

Description

The Stock Repurchase Agreement with Accelerated terms is designed to facilitate the buyback of shares from a founder or key employee, thus ensuring the strategic alignment of equity ownership with the company's goals. This specific agreement involves MachOne Communications, Inc. and its founder, Michael Solomon, detailing the repurchase of 77,000 shares at the original price of $0.001 per share. It incorporates provisions for the unvested shares, allowing the company the option to reacquire shares not yet vested in the founder upon termination of employment. Key features include representations and warranties ensuring valid ownership and authority from the founder, as well as conditions under which the unvested shares can be repurchased. For users involved in the legal and corporate governance aspects, such as attorneys and paralegals, this form provides clear instructions for filling and editing the document, while ensuring that relevant laws and provisions are adhered to. Additionally, it highlights the importance of maintaining clear terms regarding vesting and rights associated with stock ownership. This agreement serves as a protective measure for the company while allowing founders to maintain some equity as they transition. Target audiences, including partners and associates, will find this template useful for managing potential repurchase scenarios and understanding their implications on company equity.