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Buyout Agreement
"I need a Buyout Agreement for purchasing a small tech consulting firm with 15 employees, including specific provisions for protecting intellectual property and ensuring key employees stay on for at least 12 months after the acquisition closes in March 2025."
1. Parties: Identification of all parties involved in the buyout agreement
2. Background/Recitals: Context and purpose of the buyout agreement
3. Definitions: Key terms used throughout the agreement
4. Purchase Price and Payment Terms: Details of consideration and payment structure
5. Closing Conditions: Prerequisites that must be met before the transaction can close
6. Representations and Warranties: Statements of fact and assurances from both parties
7. Transfer of Ownership: Mechanics of transferring ownership interests
1. Due Diligence: Process for reviewing business records and assets - used for complex transactions or when buying significant business assets
2. Employee Matters: Treatment of employees post-buyout - included when the buyout affects existing employees
3. Non-Compete Provisions: Restrictions on seller's future business activities - used when protecting business interests from seller competition
4. Transition Services: Support services provided by seller post-closing - included when continued seller involvement is needed
1. Asset Schedule: Detailed list of assets included in the buyout
2. Liabilities Schedule: List of assumed and excluded liabilities
3. Intellectual Property Schedule: Inventory of IP rights being transferred
4. Employee Schedule: List of affected employees and their terms
5. Material Contracts Schedule: Key agreements affecting the business
6. Due Diligence Checklist: List of required documentation and verifications
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