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Buy Sell Agreement Cross Purchase
"Need a Buy Sell Agreement Cross Purchase for our Singapore tech startup with three founders, where each shareholder will purchase shares proportionally upon a co-founder's departure, with life insurance funding mechanism and quarterly valuation updates."
1. Parties: Identification and details of all participating shareholders
2. Background: Context of the agreement and current shareholding structure
3. Definitions: Key terms used throughout the agreement
4. Purchase Obligation: Terms triggering the obligation to purchase shares
5. Purchase Price: Methodology for determining share value and payment terms
6. Funding Mechanism: How purchase will be funded, including insurance provisions if applicable
7. Transfer Procedure: Process for executing the share transfer
8. Governing Law: Specification of Singapore law as governing law
1. Life Insurance Provisions: Details of life insurance policies funding the agreement when life insurance is used as funding mechanism
2. Disability Provisions: Provisions for purchase in case of disability, included when disability trigger is required
3. Valuation Methods: Detailed valuation procedures when complex valuation methods are required
4. Right of First Refusal: Provisions for voluntary transfers when voluntary sales are contemplated
1. Schedule 1: Shareholder Details: List of current shareholders and shareholdings
2. Schedule 2: Valuation Formula: Agreed methodology for share valuation
3. Schedule 3: Insurance Policies: Details of life insurance policies if applicable
4. Schedule 4: Share Transfer Form: Pro-forma share transfer documentation
5. Schedule 5: Company Information: Key company details and structure
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