Transfer of business ownership and company shares upon triggering events.
BUY-SELL AGREEMENT
This Buy-Sell Agreement is made on [DATE] between the owners of [COMPANY NAME]: [OWNER NAMES].
1. TRIGGERING EVENTS
This Agreement applies upon: death, disability, retirement, voluntary withdrawal, or involuntary termination of any owner.
2. VALUATION METHOD
Company value determined by: [VALUATION METHOD] as of [VALUATION DATE]. Valuation conducted by [APPRAISER SELECTION].
3. PURCHASE OBLIGATION
Upon triggering event, remaining owners [MUST/MAY] purchase departing owner's interest at determined value.
4. PAYMENT TERMS
Purchase price paid: [PERCENTAGE]% at closing, remainder in [NUMBER] equal installments over [YEARS] years at [INTEREST RATE]% interest.
5. LIFE INSURANCE
Each owner shall maintain life insurance of $[AMOUNT] with company as beneficiary to fund purchases upon death.
6. RIGHT OF FIRST REFUSAL
No owner may sell to third parties without first offering to remaining owners at same terms.
OWNERS:
[OWNER 1]: _________________ Date: ___________
[OWNER 2]: _________________ Date: ___________
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A Buy-Sell Agreement establishes procedures for transferring business ownership interests upon death, retirement, or other triggering events.