Sole Proprietorship Buy-Sell Agreement

Use this template to prepare a Buy-Sell Agreement between the owner of a sole proprietorship and an employee who wants to purchase the business upon the death of the owner, as both parties want to ensure that the business continues on. Provisions include:

• On the death of the proprietor, the executor or administrator of the estate will sell the business to the employee.
• The employee will finance the purchase through proceeds of a life insurance policy on the life of the proprietor.
• The purchase will include all real property, accounts receivable and other assets of the business.
• The parties will jointly determine the value of the business at the end of each fiscal year.

This is a generic legal document in MS Word format, and is not specific to any country or region.