Arizona 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

Arizona Sample Restricted Stock Purchase Agreement between Intermark, Inc. and Purchasers is a legally binding document that outlines the terms and conditions of purchase and sale of restricted stock between Intermark, Inc. (the "Company") and the purchasers (the "Purchasers"). This agreement is intended to be used as a template for restricted stock purchases in the state of Arizona. The document begins by identifying the parties involved and providing their contact information. It includes a recital section, which outlines the background and purpose of the agreement. The recital highlights that Intermark, Inc. wants to issue and sell a certain number of restricted stocks to the Purchasers, and the Purchasers are willing to purchase such stocks subject to certain restrictions. Following the recital, the agreement includes various sections covering important aspects of the restricted stock purchase. These sections may include: 1. Purchase Price and Payment Terms: This section sets forth the purchase price of the restricted stock and specifies the payment terms, such as whether it will be paid in cash or any other agreed-upon form. 2. Closing and Delivery: This section outlines the closing process and the manner in which the stock certificates will be delivered to the Purchasers upon completion of the purchase. 3. Representations and Warranties: Both parties make certain representations and warranties concerning their authority, ownership, and legal ability to enter into the agreement. 4. Restrictions and Transferability: This section details the restrictions placed on the purchased stock, such as limitations on transferability, and any required approvals or consents necessary for transfer. 5. Termination and Remedies: This section describes the circumstances under which the agreement may be terminated, and the remedies available to the parties in case of breach or default. 6. Governing Law and Jurisdiction: The agreement clearly states that it will be governed by the laws of the state of Arizona and any disputes will be resolved within the state jurisdiction. Other types of Arizona Sample Restricted Stock Purchase Agreements between Intermark, Inc. and Purchasers may include variations based on specific terms and conditions. These variations could include additional provisions related to shareholder rights, vesting schedules, or restrictions on resale. It's essential to tailor the agreement to the specific needs and requirements of the parties involved while ensuring compliance with the relevant Arizona laws and regulations. It is important to note that this description provides a general overview of an Arizona Sample Restricted Stock Purchase Agreement. The specific terms and content may vary depending on the agreement drafted by the parties or their legal representation.