Free Buyout Agreement

This Buyout Agreement ("Agreement") is entered into on April 10, 2050, by and between, [Your Name], [Your Company Address], ("Buyer"), and

[Seller's Name], [Seller's Address], ("Seller").

_____________________________________________________________________________________

1. Buyout Terms

1.1 Purchase Price

The purchase price for the Seller's ownership interest in [Your Company Name] shall be determined based on the fair market value of the business as agreed upon by both parties or as determined by a mutually agreed-upon third-party valuation expert.

2. Payment Terms

The Buyer agrees to pay the purchase price to the Seller in the following manner:

• A lump sum payment of $500,000.

• Payment is to be made within 30 days of the execution of this Agreement.

3. Transfer of Ownership

• Upon receipt of the full purchase price, as specified in Section 2, the Seller agrees to transfer their ownership interest in [Your Company Name] to the Buyer.

• The Buyer shall become the sole owner of the business and shall assume all rights, responsibilities, and liabilities associated with such ownership.

4. Closing Procedures

The closing of the buyout transaction shall occur on May 15, 2050, unless otherwise agreed upon by both parties.

At the closing, all necessary documents shall be executed, and any remaining obligations shall be fulfilled to complete the transfer of ownership.

5. Representations and Warranties

5.1 Seller's Representations

• The Seller represents and warrants that they have full legal authority to enter into this Agreement and to sell their ownership interest in [Your Company Name] without the need for any further consents or approvals.

• The Seller further represents and warrants that there are no pending or threatened legal actions or claims that would affect the validity or enforceability of this Agreement.

5.2 Buyer's Representations

• The Buyer represents and warrants that they have the necessary funds or financing in place to complete the purchase as outlined in this Agreement.

• The Buyer further represents and warrants that they are not aware of any material facts or circumstances that would materially affect their decision to proceed with the buyout transaction.

6. Confidentiality

Both parties agree to keep the terms and conditions of this Agreement confidential and not to disclose any information regarding the buyout transaction to any third parties without the prior written consent of the other party, except as required by law.

7. Governing Law

This Agreement shall be governed by and construed by the laws of [State] without regard to its conflict of laws provisions.

8. Entire Agreement

This Agreement constitutes the entire understanding between the parties concerning the subject matter hereof and supersedes all prior agreements, negotiations, and understandings, whether oral or written, relating to such subject matter

9. Execution

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Buyout Agreement as of the date first above written.

_____________________________________________________________________________________

[Your Name]
[Date Signed]

[Seller Name]
[Date Signed]

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