Cross Purchase Agreement Template

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Cross Purchase Agreement Template

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Cross Purchase Agreement Template (1)
Between:
[Name of Shareholder 1]
[Shareholder 1’s ID]
[Shareholder 1’s Address]
[Shareholder 1’s Phone]
[Shareholder 1’s Email]
And:
[Name of Shareholder 2]
[Shareholder 2’s ID]
[Shareholder 2’s Address]
Introduction:
This Cross Purchase Agreement is entered into as of [Effective Date] to facilitate the purchase of shares upon the occurrence of specific triggering events involving the shareholders.
Clause 1: Triggering Events
The following events shall trigger the purchase of shares:
1. Death of a shareholder
2. Permanent disability of a shareholder
3. Departure of a shareholder from the company.
Clause 2: Purchase Price
The purchase price for the shares shall be determined based on the fair market value as assessed by [Specify Valuation Method], or a mutually agreed upon amount between the shareholders.
Clause 3: Payment Terms
Payment for the purchased shares shall be made according to the following schedule: [Specify payment terms, duration, and interest if applicable].
Clause 4: Right of First Refusal
Before any shareholder can sell their shares to a third party, they must first offer the shares to the other shareholders at the same price.
Clause 5: Governing Law
This agreement shall be governed by and construed in accordance with the laws of [Jurisdiction].
Signed in [City], [Date].
Sincerely,
[Signature of Shareholder 1]
[Name of Shareholder 1]
[Signature of Shareholder 2]
[Name of Shareholder 2]
Cross Purchase Agreement Template (2)
Between:
[Name of Shareholder 1]
[Shareholder 1’s ID]
[Shareholder 1’s Address]
[Shareholder 1’s Phone]
[Shareholder 1’s Email]
And:
[Name of Shareholder 2]
[Shareholder 2’s ID]
[Shareholder 2’s Address]
Introduction:
This Cross Purchase Agreement is designed to provide a mechanism for the purchase of shares in the event of certain defined occurrences affecting one of the shareholders.
Clause 1: Triggering Conditions
The following conditions will necessitate a buyout:
1. Death of a shareholder
2. Total disability of a shareholder
3. Retirement or voluntary departure from the company.
Clause 2: Valuation of Shares
The price of shares will be established via appraisal by a qualified independent evaluator, or as determined through mutual agreement of all shareholders.
Clause 3: Financing of Purchase
The shareholders agree to finance the purchase through [Specify financing arrangements such as cash, loan, etc.].
Clause 4: Future Sale of Shares
Any shareholder intending to sell their shares must offer the shares to the other shareholders before reaching out to outside buyers.
Clause 5: Jurisdiction and Legal Compliance
This Agreement will be subject to the laws of [Jurisdiction]. All participants commit to adhering to all applicable laws and regulations.
Signed in [City], [Date].
Sincerely,
[Signature of Shareholder 1]
[Name of Shareholder 1]
[Signature of Shareholder 2]
[Name of Shareholder 2]

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Please complete the form below to create the Cross Purchase Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

Cross Purchase Agreement Template

1. Parties Information





2. Purpose of Agreement

3. Purchase Details

4. Buyout Trigger Events

5. Funding the Agreement

6. Rights and Obligations

7. Dispute Resolution

8. Indemnification Clause

9. Amendment and Termination

10. Signatures and Acceptance

11. Declaration and Signatures



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Cross Purchase Agreement Template

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Cross Purchase Agreement Template