Corporate Cross Purchase Agreement Page 2
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31SAMPLE DOCUMENT ONLY
CLIENTS MUST CONSULT LEGAL COUNSEL
Corporate Cross Purchase Agreement
(Optional Disability Buy-Out)
This Agreement, entered into this __________ day of __________, 20 _____, by and
between (Name) of
(Address) , and
(Name) , of
(Address) , hereafter called the
"Stockholders,"
WITNESSETH:
WHEREAS, the Stockholders own the stock of the (Name of Company) Company, a
Corporation with its principal place of business at
(Address) . The Stockholders own the
following number of shares of stock:
(Name) , __________ Shares
(Name) , __________ Shares
WHEREAS, each Stockholder wishes to make all said stock and any stock acquired
hereafter, subject to the terms of this Agreement:
WHEREAS, the Stockholders, for their mutual protection and the more harmonious and
successful management of the Corporation, wish to provide for the purchase and sale of all of a
Stockholder's stock upon his/her death, [disability], retirement or withdrawal; and
WHEREAS, it is the intent of the Stockholders to secure this Agreement by the use of life
insurance [and disability buy-out insurance] to provide all or a substantial part of the purchase
price when needed to carry out this Agreement upon the death [or disability] of a Stockholder;
NOW THEREFORE, in consideration of the mutual covenants to buy and sell and the
performance thereof expressed herein by the parties, each of the Stockholders do hereby bind
themselves, their heirs, executors, administrators and assigns, and hereto agree as follows:
1.
RESTRICTION ON STOCK TRANSFER. No Stockholder shall sell, assign, transfer,
pledge or dispose of any of his/her respective stock in the Corporation by sale or
otherwise except as provided below.
DI1087
0108
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