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Fill and Sign the Full Text of Ampquothistory of Effingham County Illinoisampquot Form

Fill and Sign the Full Text of Ampquothistory of Effingham County Illinoisampquot Form

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SHAREHOLDERS AGREEMENT THIS agreement is made by and between **, hereinafter "Phillips", and **, hereinafter "Sudbeck", for the purpose of providing for the sale and purchase of stock in **. FOR TEN DOLLARS AND OTHER VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged the parties do hereby covenant, contract and agree as follows: 1. Phillips agrees to purchase and Sudbeck Agrees to sell all of Sudbecks' stock, title and interest in ** to Phillips. 2. The purchase price shall be $5,000.00 payable upon execution of this agreement. 3. By execution hereof Sudbeck constitutes and appoints Phillips as his agent for the purpose of transfer of his stock on the corporation books and hereby conveys, endorses and transfers all said stock to Phillips. The transfer shall be effective as of October 1, 19__. 4. Sudbeck acknowledges that no liens or assessments are due and owing on said stock. 5. In further consideration of the conveyance Phillips agrees that he will be responsible for any additional taxable income owed by Sudbeck on his portion of the K-1 income of ** as a result of Sudbecks ownership of said stock in 19__ upon proof of same to Phillips. This does not include consideration of the $5,000.00 paid to Sudbeck. DATED this the ____day of ____________, 19__. ____________________________ ** ____________________________ **

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