This Business Buyout Agreement (hereinafter referred to as the “Agreement”) is made on __________________20___ by and between ________________________ (hereinafter referred to as the “Partner A”) and ______________________ (hereinafter referred to as the “Partner B”). Together referred to as “parties.”
Whereas the purpose of the agreement is for Partner A to buyout the percentage of the jointly owned business known as ___________________ belonging to Partner B.
The parties agree that Partner A shall compensate Partner B __________ for the purchase of his full percentage of the business.
The above-mentioned compensation shall be payable to Partner B upon them signing the transfer of percentage documents to Partner A.
- Compliance.
Partner B agrees to facilitate and assist in providing any necessary documentations or cooperation in having the transfer of his percentage in the business to Partner A.
All the terms and conditions of this Agreement and any confidential information must be kept confidential unless disclosure is required under the process of law.
Disclosing or using this information for any purpose beyond the scope of this Agreement or the exceptions set forth above is expressly forbidden without the Parties’ prior consent.
The Parties agree that the confidentiality clause will remain active and in power even upon termination.
- Non-Disclosure.
The parties herein agree and acknowledge not to disclose the terms and information of this agreement to any third party.
- Dispute Resolution.
Any controversy or claim arising out of or relating to this Agreement, or the breach thereof shall be settled by mediation in accordance with the applicable rules.
If mediation fails, the dispute shall be referred to Arbitration, which is binding upon the parties and conducted under the rules of the American Arbitration Association.
- Governing Law.
This Agreement shall be construed, governed, and interpreted according to the applicable Laws of _______________.
The waiver by either party of the breach of any covenant or provision in this Agreement shall not operate or be construed as a waiver of any subsequent breach by either party.
In the event a court of competent jurisdiction declares any term or provision of this Agreement to be invalid or unenforceable for any reason, those provisions shall be severed from this agreement and the remaining terms of this Agreement will be in full force and effect
This Agreement cannot be amended without the written consent of all parties herein.
IN WITNESS WHEREOF, the parties hereunto set their signatures and acknowledged this Agreement as the date first above written.
| By the PARTNER A; –Signature: __________________________
Date: ______________________________
Email Address: _____________________
By the _______________; – Signature: __________________________ Date: ______________________________ Email Address: _____________________ |
By the PARTNER B; –Signature: __________________________
Date: _______________________________
Email Address: _____________________ |
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