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Cross Purchase Agreement
1. Parties: Identification of all current shareholders/business owners entering into the agreement
2. Background: Context of the agreement, including current ownership structure and purpose of the cross purchase arrangement
3. Definitions: Key terms used throughout the agreement, including technical and financial terms
4. Purchase Obligation: Core obligation of surviving/remaining owners to purchase shares upon trigger events
5. Trigger Events: Specific events that activate the purchase obligation (death, disability, retirement, voluntary departure)
6. Valuation Method: Agreed methodology for determining the purchase price of shares
7. Payment Terms: Structure and timing of payments, including any installment arrangements
8. Funding Mechanism: Sources of funding for share purchases, including insurance policies if applicable
9. Transfer Procedure: Step-by-step process for executing the share transfer
10. Representations and Warranties: Standard declarations by all parties regarding their capacity and authority
11. Confidentiality: Provisions protecting sensitive business information
12. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction
13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Tag-Along Rights: Include when protecting minority shareholders' rights to join in sales is desired
2. Drag-Along Rights: Include when majority shareholders need the right to force minority participation in sales
3. Right of First Refusal: Include when parties want additional protection against external sales
4. Dispute Resolution: Include detailed arbitration or mediation procedures if preferred over court proceedings
5. Life Insurance Provisions: Include when life insurance will be used to fund purchases
6. Disability Insurance Provisions: Include when disability insurance will be used to fund purchases
7. Competition Restrictions: Include when non-compete provisions are needed for departing shareholders
8. Third Party Rights: Include when rights need to be extended to or restricted from non-parties
1. Current Shareholding Structure: Details of current share ownership and classes of shares
2. Valuation Formula: Detailed calculation method and examples for share valuation
3. Insurance Policies: Details of life, disability, or other insurance policies funding the agreement
4. Share Certificate Form: Template for share certificates to be issued
5. Transfer Notice Form: Standard form for initiating share transfers
6. Company Information: Key company details, registration numbers, and corporate structure
7. Deed of Adherence: Template for new shareholders to join the agreement
8. Payment Schedule Template: Standard format for installment payment arrangements
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