Free Shareholder Buyout Agreement Template
Shareholder Buyout Agreement
1. Introduction
This Shareholder Buyout Agreement (the "Agreement") is entered into effective as of [Effective Date], by and between [YOUR NAME] ("Selling Shareholder") and Notable20 ("Purchaser"), collectively referred to as the "Parties" and individually as a "Party".
2. Purpose
The purpose of this Agreement is to outline the terms and conditions under which the Selling Shareholder agrees to sell and transfer, and the Purchaser agrees to purchase, the Selling Shareholder's shares in [YOUR COMPANY NAME] (the "Company").
3. Share Details
3.1 Description of Shares
The shares to be sold and transferred under this Agreement comprise of [Number of Shares] shares in the Company, representing [Percentage]% of the total issued and outstanding shares of the Company (the "Shares").
3.2 Purchase Price
The purchase price for the Shares shall be [Purchase Price] (the "Purchase Price").
3.3 Payment Terms
The Purchase Price shall be paid by the Purchaser to the Selling Shareholder in the following manner: [Payment Terms].
4. Representations and Warranties
4.1 Selling Shareholder's Representations
The Selling Shareholder represents and warrants that they are the lawful owner of the Shares, with good and marketable title, free and clear of all liens and encumbrances.
4.2 Purchaser's Representations
The Purchaser represents and warrants that they have the requisite power and authority to enter into this Agreement and to perform their obligations hereunder.
5. Closing
5.1 Date and Location
The closing of the transaction contemplated by this Agreement (the "Closing") shall take place on or before [Closing Date], at [Closing Location], unless otherwise agreed by the Parties in writing.
5.2 Actions at Closing
At Closing, the Selling Shareholder shall deliver to the Purchaser duly executed share transfer forms in respect of the Shares, and the Purchaser shall pay the Purchase Price in accordance with Section 3.3 above.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflicts of law principles.
7. Entire Agreement
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether written or oral.
8. Signatures
IN WITNESS WHEREOF, the Parties have executed this Shareholder Buyout Agreement as of the date first above written.
[YOUR NAME]
Shareholder
Shareholder
