Shareholder buy sell agreement template

JavaScript seems to be disabled in your browser. You must have JavaScript enabled in your browser to utilize the functionality of this website.

Sample Buy-Sell Agreement

THEREFORE, in consideration of the mutual promises and obligations set forth hereafter, each party hereto agrees as follows:. While this Agreement is in effect, no Stockholder shall have any right to assign, encumber, or dispose of his stock except as provided herein.

Buy-Sell Agreement (Funded by Life Insurance)

Upon the death of a Stockholder, his Estate shall sell, and the Corporation shall purchase, all of the shares of stock owned by the Stockholder at the time of his death, for the price and upon the terms provided herein. If a Stockholder desires to sell or otherwise dispose of all or any part of his stock during his lifetime, he shall give the Corporation and each of the other Stockholders written notice of his intention.

If there is a prospective transferee other than the Corporation or the existing Stockholder, such notice shall state the name and address of such transferee and the terms and conditions of the proposed transfer. Upon receipt of such written notice, the Corporation shall have the right to purchase all of the shares of stock offered for sale or transfer.

The purchase price shall be the amount established in Article IV below; provided, however, that if a lower price was stated in the notice to the Corporation, it shall have the right to purchase at such lower price. The Corporation and the Stockholders shall individually have the right to pay for any shares they purchase either in cash or upon the following terms or upon any more favorable. Unless the Corporation or the other Stockholder purchase all of the stock offered for sale within the successive time periods allowed, upon expiry of the last such period, the stock may be disposed of to the person and upon the terms and conditions described in the notice, or to any other person or persons; provided only that the notice and first offer procedure described above is repeated in connection with every other intended transfer.

Upon every sale or other disposition of an interest in the Corporation under this Article, the Secretary of the Corporation shall transfer record ownership to the new owner s on the books of the Corporation.

Any changes in the respective ownership interests of the Stockholders resulting from a purchase and sale between Stockholders which does not terminate this Agreement as provided in Article VIII. This value shall remain effective for the purposes herein until there is a redetermination of value as hereafter provided. It may also release policies from the Agreement; increase, decrease or make other changes in existing policies; or substitute other life insurance policies on the same life or lives for any policies subject to this Agreement.

The Stockholders hereby agree to do all things necessary to enable the Corporation to obtain additional insurance on their lives or make changes in existing policies. The Corporation shall apply for and be the owner and primary beneficiary of all life insurance policies subject to this Agreement and shall pay the premiums on all such policies as they fall due.

The Corporation may apply policy dividends to the payment of premiums.

Proof of premium payments shall be furnished by the Corporation whenever a Stockholder requests such proof.

If the Corporation shareholder buy sell agreement template to pay a premium within ten 10 days after it falls due, the insured shall have the right to pay such premium and to be reimbursed therefor by the Corporation.

So long as this Agreement remains in effect, it is expressly agreed that the Corporation shall exercise none of the rights or privileges granted to prophet1 forex ea free download as owner by the terms of the policies such as the right to borrow upon, surrender for cash, change the beneficiary, or assign a policy except with the written relationship between stock market and commodity market of all the Stockholders.

Each promissory note shall include and be subject to the provisions of Article IX. Transfer of such shares shall be made free and clear of all taxes, debts, claims or other encumbrances whatsoever, except for that represented by any promissory notes given under paragraph C.

Each Stockholder shall have the right to purchase from the Corporation, any policy or policies on his life which strefy sd forex subject to this Agreement, A upon disposing of all of his stock during his lifetime as provided in Article III.

This right of purchase shall be exercised as to each policy by paying to the Corporation, in cash, an amount equal to the cash surrender value as defined in the policy, adjusted to the date of transfer of ownership of the policy to the binary options signals scams. This Agreement may be amended at any time in any particular way by a writing signed by all the Stockholders.

Each promissory note given under Articles III and VI above shall include and be subject to the following provisions:. Each note shall provide that in the event of default of principal or interest for a period of ten 10 days, at the election of the holder all notes of the series shall, without further notice, immediately become due and payable. Each note shall provide for prepayment in whole or in part at any time without penalty, but only with the consent of the holder.

Such right of prepayment shall apply to those notes last due in the series in inverse order. Each note shall be secured in a manner acceptable to all parties at the time the notes are given.

Buy Sell Agreement Shareholders – Free Legal Forms

This Agreement shall be binding upon the Stockholders, their heirs, legal representatives, successors and assigns and upon the Corporation, its how to make money in runescape non member or assigns. The Corporation, the Stockholders, the personal representative of any deceased Stockholder, and all other parties bound by this Agreement shall promptly execute and deliver any and all papers or instruments necessary or desirable to carry out the provisions of this Agreement.

If, at any time, the provisions of applicable statutes or of its charter or by-laws prevent the Corporation from making a purchase required hereunder, the Corporation and the Stockholders shall take any action which may be necessary to enable the Corporation to make such purchase.

Any notice provided for under this Agreement shall be deemed duly given if delivered or mailed by certified or registered mail to the party entitled to receive such notice at the address of such party contained in the records of the Corporation. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written.

Forms, Features, Customer Service and Ease of Use. Get Your Divorce Online! Need a Personal Loan? USLegal has the lenders! Customer Service Contact Ask Legal Questions Do I have a Case Last Will Checkup Contact an Attorney Feedback Your Privacy. Convenient, Affordable Legal Help - Because We Care! USLegal Home Free Legal Forms Partnership Forms Buy Sell Agreement Shareholders.

THEREFORE, in consideration of the mutual promises and obligations set forth hereafter, each party hereto agrees as follows: If the Corporation fails to purchase all of the shares offered for sale within days after receipt of the notice, the other Stockholder shall have an additional days within which to purchase the unsold shares for the same price.

The Corporation and the Stockholders shall individually have the right to pay for any shares they purchase either in cash or upon the following terms or upon any more favorable terms offered to a prospective transferee as stated in the written notice: The procedure upon the death of a Stockholder shall be as follows: This Agreement shall terminate upon: Each promissory note given under Articles III and VI above shall include and be subject to the following provisions: This Agreement shall be construed according to the laws of the State of.

Fifty 50 Shares Fifty 50 Shares As of the day of This the day of Get Premium Legal Forms for your State. Legal Information Legal Topics Definitions Ask a Question Laws View All. Products Personal Legal Forms Business Legal Forms FormsPass Subscriptions Marketing.

For Consumer Information Legal Forms Document Review Fixed Fee Services Get Legal Help Online Divorce View All. Services Business Formation Online Divorce Document Drafting Document Review Resolve your Dispute Attorney Assistance. For Business Information Legal Forms Document Preparation Document Review Answers Business Formation Resolve your Claim View All. Attorneys Do you Care to Help People?

Can you gain their trust? Participate with USLegal Attorneys Wanted. Customer Support Why USLegal?

Get Help My Account. Get the USLegal Newsletter.