For only $9.99 Your
purchase will include
a professionally constructed and fully editable
Buy-Sell Agreement template for your business
in Microsoft Word format. (see
detailed document below)
Buy-Sell Agreement can provide the framework for
your company's business succession plan and is
flexible enough to work with many different types
of multiple owner businesses.
bonus documents that your business will need.
3 page confidentiality agreement to protect you
when speaking with an outside party about your
1 page new business entity planning worksheet
that will help you lay the ground work for compensation
and how income will be distributed among the owners.
is Page 1 of the editable Buy-Sell Agreement, plus information
on what the rest of the 10 page document covers. With
your paid order you will receive the entire document in
a customizable word document format.
This Buy-Sell Agreement (this "Agreement") is
made effective as of __________________, between and among
___________________________________ (the "Company")
and each of the individuals listed on the attached Schedule
A (each an "Owner," and collectively, the "Owners").
The Owners own all of the
outstanding common stock of the Company (the "Units"),
and desire to promote and protect their mutual interests
and the interests of the Company. Therefore, the parties
hereby agree as follows.
Article I - Sales and Transfers
1. General Transfer Restriction.
No Owner (or any party acting on behalf of an Owner) may
sell or transfer any of such Owner's Units, whether now
owned or later acquired, except in accordance with the
terms of this Agreement or by the written consent of the
Company and all of the other Owners. Any attempted sale
or transfer of any Units (or any interest in any Units)
that violates the terms of this Agreement shall be void
and shall not be binding upon, or recognized by, the Company
or the Owners.
a. Sale or Transfer Defined.
The phrase "sale or transfer" includes any sale,
pledge, encumbrance, gift, bequest, or other transfer
of any Units, whether or not the transfer would be made
(i) for value, or (ii) to another Owner, or (iii) voluntarily
or involuntarily or by operation of law, or (iv) during
an Owner's lifetime or upon an Owner's death.
b. Exception. A sale or transfer
of an Owner's Units to a trust that is wholly revocable
by that Owner and for which that Owner is the sole trustee
is not a prohibited sale or transfer. However, any subsequent
attempted sale or transfer by the trustee of such trust
shall be subject to all of the terms of this Agreement
with the Owner (and not the trust) deemed as the owner
of such Units.
2. Permitted Voluntary Sale
or Transfer During Lifetime. Any Owner who wishes to sell
or transfer such Owner's Units must first provide written
notice of such intent to each of the other Owners. Such
Owner (a "Seller") shall be deemed to have offered
to sell his/her Units (the "Offered Units")
to the other Owners. The notice must state the name of
the party (the "Third Party Purchaser") to whom
the Seller wishes to sell or transfer the Offered Units
and the terms of the proposed sale or transfer.
(end of page
1, below is a listing of the topics the rest of the document
will cover in detail)
3. Involuntary Lifetime Sale
4. Death of an Owner..
5. Termination of Employment.
6. Option of the Company.
Article II - Purchase Price
1. Book Value / Purchase
2. Calculation by CPA.
Article III - Payment Terms
1. Type of Payment.
2. The Closing.
Article IV - Endorsement
2. Return of Shares.
3. New Units.
Article V - Life Insurance
1. Required Policies.
2. Added Policies.
Article VI - Terminating
or Amending the Agreement
3. Return of Certificates.
Article VII - Continuation
Article VIII - Miscellaneous
1. Tax Status.
2. Binding Effect.
3. Governing Law.
6. Specific Performance.
9. Entire Agreement.
List of Owners
Final Checklist for Buy-Sell Agreement
The complete document
will also provide what you need to do to Make It Legal
Who should receive copies.
When you should update.
here to order the entire fully editable Buy-Sell Agreement document
Please Note: The information
contained on this site is for educational purposes only,
it is not intended to be professional tax or legal advise;
consult a tax advisor about your specific situation. We
also reserve the right to refuse to generate a proposal
or report for any situation we feel is not appropriate
for a buy-sell agreement .