Sample Buy-Sell Agreement Template Page 2
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14(c)
Price and terms:
[Check either Option 1a or Option 1b below.]
[ ] Option 1a: Price and terms in offer
The company and the non-transferring owners shall have the right to purchase
the interest of the transferring owner only at the purchase price and payment
terms stated in the Notice of Intent to Transfer submitted to the company by the
transferring owner. The price and terms in this notice override the general
Agreement Price selected in the "Agreement Price" and "Payment Terms"
sections of this agreement.
[ ] Option 1b: Price and terms in agreement
The company and the non-transferring owners shall have the right to purchase
the interest of the transferring owner at the Agreement Price and payment terms
selected in the "Agreement Price" and "Payment Terms" sections of this
agreement.
Section 3: Providing the Right to Force Buyouts
Scenario 1. When an Active Owner Retires or Quits the Company's Employ
[You may check Option 1, Option 2, both, or neither below.
Check Option 1 if you want the company and continuing owners to have the option
to buy a retiring owner's interest.]
[ ]
Option 1: Option of Company and Continuing Owners to Purchase a Retiring
Owner's Interest
An owner who voluntarily retires or quits the company's employ is deemed to have
offered his or her ownership interest to the company and the continuing owners for
sale. The company and the continuing owners shall then have an option, but not an
obligation (unless otherwise stated in this agreement), to purchase all or part of the
ownership interest within sixty (60) days after the date on which the company
receives notice or becomes aware of the event triggering the Option to Purchase.
Sample Buy-Sell Agreement
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