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Form #1518

STOCKHOLDERS REDEMPTION AGREEMENT

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STOCKHOLDERS REDEMPTION AGREEMENT


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STOCKHOLDERS REDEMPTION AGREEMENT

 

Agreement made this _______ day of ________________________________ between ___________________________________________, a corporation incorporated under the laws of the State of _____________________________________ with its principal place of business at: _____________________________________________________ (hereinafter "Corporation") and ____________________________________________ (hereinafter "Stockholder").

 

 

RECITALS:

 

A.    Stockholder is the owner of __________ shares of the common stock of Corporation.

 

B.    Corporation desires to redeem all of said shares upon the terms and conditions set forth below.

 

C.    Stockholder is willing that said shares be redeemed on the terms and conditions set forth below.

 

D.    Stockholder desires that such redemption shall be accorded capital gains, rather than ordinary income treatment, under the rules imposed by the Internal Revenue Code, as implemented by the regulations adopted pursuant thereto.

 

E.     It is necessary that all the shares held by the Stockholder shall be redeemed, and that certain other conditions be met in order for Stockholder to be entitled said income tax benefits.

 

In consideration of the mutual covenants and agreements herein contained, the parties mutually agree to the following:

 

1.     PAYMENT TO STOCKHOLDER.  On the aforesaid date, Corporation will pay to stockholder the sum of _________ ($______ ) for said shares of the common capital stock of Corporation.

 

2.     SURRENDER OF CERTIFICATES.  On the aforesaid date, Stockholder will surrender to Corporation the certificates representing all such shares of stock, which certificates shall be duly endorsed.

 

3.     RESIGNATION OF STOCKHOLDER.  Stockholder hereby tenders hi resignation as director, officer, and employee of Corporation, all of which resignations shall be presented to the Board of Directors of Corporation and which shall be effective immediately upon the execution of this agreement.

 

4.     LIMITATIONS ON STOCKHOLDER AFTER TERMINATION.  Stockholder will not acquire any stock, other than by gift, bequest, or inheritance, in corporation within years from the date hereof, nor will stockholder be a director or otherwise employed in any corporation within that period.

 

IN WITNESS HEREOF, the parties have executed this agreement on the day and year first above written.

_________________________________   _____________________________

Witness                                                             Stockholder

_________________________________   _____________________________

Witness                                                             Stockholder

 

By: _____________________________          Title: ________________________

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Total Forms Contributed 75
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Keywords: STOCKHOLDERS, REDEMPTION AGREEMENT, SHARES

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