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Free Corporate Legal Forms page - Stock Purchase Agreement
STOCK PURCHASE AGREEMENT
THIS AGREEMENT is made and entered into this _________(1)_________ day of
________(2)_______, ________(3)___________, by and between _________(4)_________,
(hereinafter referred to as "Seller") and ________(5)___________, (hereinafter referred to as
"Purchaser");
W I T N E S S E T H:
WHEREAS, the Seller is the record owner and holder of the issued and outstanding
shares of the capital stock of ____(6)____, (hereinafter referred to as the "Corporation"), a
______________(7)____________ corporation, which Corporation has issued capital stock of
________________(8)______________ shares of $________(9)_________ par value common
stock, and
WHEREAS, the Purchaser desires to purchase said stock and the Seller desires to sell
said stock, upon the terms and subject to the conditions hereinafter set forth;
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained in this Agreement, and in order to consummate the purchase and the sale of the
Corporation's Stock aforementioned, it is hereby agreed as follows:
1. PURCHASE AND SALE:
Subject to the terms and conditions hereinafter set forth, at the closing of the transaction
contemplated hereby, the Seller shall sell, convey, transfer, and deliver to the Purchaser
certificates representing such stock, and the Purchaser shall purchase from the Seller the
Corporation's Stock in consideration of the purchase price set forth in this Agreement. The
certificates representing the Corporation's Stock shall be duly endorsed for transfer or
accompanied by appropriate stock transfer powers duly executed in blank, in either case with
signatures guaranteed in the customary fashion, and shall have all the necessary documentary
transfer tax stamps affixed thereto at the expense of the Seller.
The closing of the transactions contemplated by this Agreement (the "Closing"), shall be
held at ________(10)_________, on ______(11)______, at ______(12)______, or such other
place, date and time as the parties hereto may otherwise agree.
2. AMOUNT AND PAYMENT OF PURCHASE PRICE.
The total consideration and method of payment thereof are fully set out in Exhibit "A"
attached hereto and made a part hereof.
3. REPRESENTATIONS AND WARRANTIES OF SELLER.
Seller hereby warrants and represents:
(a) Organization and Standing.
Corporation is a corporation duly organized, validly existing and in good standing
under the laws of the State of ___________(13)___________ and has the corporate power and
authority to carry on its business as it is now being conducted.
(b) Restrictions on Stock.
i. The Seller is not a party to any agreement, written or oral, creating rights in respect to
the Corporation's Stock in any third person or relating to the voting of the Corporation's Stock.
ii. Seller is the lawful owner of the Stock, free and clear of all security interests, liens,
encumbrances, equities and other charges.
iii. There are no existing warrants, options, stock purchase agreements, redemption
agreements, restrictions of any nature, calls or rights to subscribe of any character relating to
the stock, nor are there any securities convertible into such stock.
4. REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER.
Seller and Purchaser hereby represent and warrant that there has been no act or
omission by Seller, Purchaser or the Corporation which would give rise to any valid claim against
any of the parties hereto for a brokerage commission, finder's fee, or other like payment in
connection with the transactions contemplated hereby.
5. GENERAL PROVISIONS
(a) Entire Agreement.
This Agreement (including the exhibits hereto and any written amendments hereof
executed by the parties) constitutes the entire Agreement and supersedes all prior agreements
and understandings, oral and written, between the parties hereto with respect to the subject
matter hereof.
(b) Sections and Other Headings.
The section and other headings contained in this Agreement are for reference purposes
only and shall not affect the meaning or interpretation of this Agreement.
(c) Governing Law.
This agreement, and all transactions contemplated hereby, shall be governed by,
construed and enforced in accordance with the laws of the State of ____(14)_____. The parties
herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court of
subject matter jurisdiction located in ______(15)____ County, State of ___(16)____. In the event
that litigation results from or arises out of this Agreement or the performance thereof, the parties
agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and all other
expenses, whether or not taxable by the court as costs, in addition to any other relief to which the
prevailing party may be entitled.
IN WITNESS WHEREOF, this Agreement has been executed by each of the individual
parties hereto on the date first above written.
Signed, sealed and delivered in the presence of:
______________(17)______________ _____________(18)______________
______________(17)______________
______________(17)______________ _____________(19)______________
______________(17)______________
EXHIBIT "A"
AMOUNT AND PAYMENT OF PURCHASE PRICE
(a) Consideration.
As total consideration for the purchase and sale of the Corporation's Stock, pursuant to
this Agreement, the Purchaser shall pay to the Seller the sum of _______(20)_______ Dollars
($__________), such total consideration to be referred to in this Agreement as the "Purchase
Price".
(b) Payment.
The Purchase Price shall be paid as follows:
i. The sum of ________________(21)____________ Dollars ($________________) to
be delivered to Seller upon the execution of this Agreement.
ii. The sum of _________(22)___________ Dollars ($____________________) to be
delivered to Seller at Closing.
NOTICE
The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.