Sample Buy-Sell Agreement Template Page 8
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14agreement. The manner of payments and other terms of the purchase shall be
according to the "Payment Terms" section of this agreement. An owner who has
been expelled is referred to as an "expelled owner" below.
(b)
Adequate cause includes, but is not limited to:
[ ] Option 1a: Any criminal conduct against the company (such as
embezzlement)
[ ] Option 1b: A serious breach of the owner's duties or of any written policy
of the company
[ ] Option 1c: _____________________________
(c)
If an owner is expelled for a reason listed in subsection (b), the price that the
company or the continuing owners will pay for the expelled owner's ownership
interest will be:
[ ] Option 1d: The full Agreement Price according to the "Agreement Price"
section of this agreement.
[ ] Option 1e: Decided by an independent appraisal, according to the
Appraised Value Method in the "Agreement Price" section of
this agreement.
[ ] Option 1f: The Agreement Price as established in the "Agreement Price"
section of this agreement, decreased by __%.
Section 4: Agreement Price
Unless otherwise provided in this agreement, the undersigned agree that the method
checked below for valuing the company shall be used to determine a price for
ownership interests under this agreement.
[You must check one and only one of the valuation methods below:]
[ ]
Valuation Method 1: Agreed Value
The agreed value of the company shall be $____, or such other amount as fixed by all
owners of the company after the date this agreement is adopted as specified in a written
Sample Buy-Sell Agreement
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