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Agreement To Redeem Stock On Stockholder's Death

AGREEMENT made this [date] by and between [names] (Stockholders) and [name], a corporation organized pursuant to the laws of [state],having principal place of business at [address] (Corporation).

PREAMBLE

WHEREAS, Stockholders each own one quarter of Corporation's outstanding capital stock; and

WHEREAS, Stockholders wish to keep control of Corporation in the survivors upon the death of one or more of them; and

WHEREAS, Stockholders intend to accomplish this by the provisions of this Agreement;

IT IS AGREED AS FOLLOWS:

1. Buy-Sell. Stockholders will sell and transfer their stock to Corporation, and Corporation will redeem their stock in accordance with the provisions of this Agreement.

2. Death of Stockholder. Upon the death of a Stockholder, Corporation shall redeem all of Corporation's stock owned by deceased Stockholder out of Corporation's surplus. Deceased Stockholder's estate shall surrender the certificates representing the redeemed stock. The redemption price shall be computed and paid to deceased Stockholder's estate in accordance with the provisions of this Agreement.

3. Value of Stock. Upon the execution of this Agreement, Stockholders shall fix the value of each share of Corporation's stock and shall set down the value in a writing signed by each of them. Annually, no later than [number] days after the close of Corporation's fiscal year, Stockholders shall refix the value of each share of Corporation's stock and shall set down the value in...

(Excerpt)

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