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Purpose of this form
- An agreement between a corporation and a stockholder by which the corporation acquires certain assets from the stockholder
- The stockholder is issued shares of stock in return for the transferred assets
- Used in small corporations to facilitate asset transfer
AGREEMENT entered into by and between _______________________________________, hereinafter referred to as "Stockholder" and _______________________________________, hereinafter referred to as "Corporation."
WITNESSETH:
WHEREAS, the Corporation was lawfully formed by Articles of Incorporation filed with the Secretary of State of ___________________; and
WHEREAS, Certain assets must be lawfully transferred to the Corporation so the Corporation may be capitalized; and
WHEREAS, Stockholder wishes to transfer certain assets, as specified on Exhibit A, attached, to the Corporation; and
WHEREAS, the Corporation wishes to acquire certain assets, as specified on Exhibit A, attached, from Stockholder.
IT IS HEREBY AGREED, for and in consideration of the mutual covenants and agreements hereinafter entered into, as follows:
Stockholder herewith transfers and assigns to the Corporation those assets specified on Exhibit A, attached.
The Corporation herewith issues to Stockholder ____________________________ [quantity] shares of stock in the Corporation, par value $_____________________ per share, in consideration of the abovementioned transfer and assignment of assets.
AGREEMENT made on this ______ day of ____________________, 20_____.
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Stockholder’s Printed Name
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Stockholder’s Signature
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Corporation Representative’s Printed Name
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Corporation Representative’s Signature
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Witness #1’s Printed Name
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Witness #1’s Signature
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Witness #2’s Printed Name
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Witness #2’s Signature
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