Set out the provisions for dealing with the shares of a departing or deceased shareholder in this Stock Buy-Sell â„ Redemption Agreement for USA corporations.
- The Agreement clarifies the procedure the corporation must follow for repurchasing or redeeming a departing or deceased shareholder's stock holdings.
- Payment is secured by a promissory note and may be made over time.
- The corporation may not declare or pay dividends, reorganize, merge, consolidate, sell any of its material assets, or increase the salary of any key employee or officer while any portion of the redemption price remains unpaid.
- The departing shareholder must resign as a director and/or officer upon closing of the share purchase.
This USA Stock Buy-Sell â„ Redemption Agreement
is available as a MS Word download and is fully editable to fit your specific circumstances.