The Restricted Stock Purchase Agreement is a crucial document used in Saudi Arabian corporate transactions when a company wishes to issue shares subject to certain restrictions and conditions. This agreement is commonly utilized for employee stock ownership plans, executive compensation packages, or strategic investments where the company wants to maintain control over share ownership and transfer. The document must comply with the Saudi Companies Law, Capital Market Authority regulations, and Shariah principles, making it distinct from similar agreements in other jurisdictions. It typically includes detailed provisions on share transfer restrictions, vesting schedules, repurchase rights, and regulatory compliance requirements. The agreement is particularly important in private companies and closely-held corporations where maintaining control over share ownership is essential for corporate governance and succession planning.
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1. Parties: Identification of the Company and the Purchaser(s), including complete legal names and addresses
2. Background: Context of the agreement, including company information and purpose of the restricted stock issuance
3. Definitions: Key terms used throughout the agreement, including specific Saudi regulatory terminology
4. Purchase and Sale of Shares: Details of the share purchase, including number of shares, price, and payment terms
5. Transfer Restrictions: Restrictions on transfer of shares, including lock-up period and permitted transfers
6. Company's Right of First Refusal: Company's rights to purchase shares before they can be transferred to third parties
7. Repurchase Rights: Company's rights to repurchase shares under specific circumstances
8. Shareholder Rights and Obligations: Rights and obligations attached to the shares, including voting and dividend rights
9. Representations and Warranties: Standard representations from both parties, including compliance with Saudi laws
10. Compliance with Laws: Specific provisions ensuring compliance with Saudi regulations and Shariah principles
11. Confidentiality: Provisions regarding confidential information and trade secrets
12. Termination: Circumstances under which the agreement can be terminated
13. Governing Law and Jurisdiction: Specification of Saudi law as governing law and jurisdiction for disputes
14. Notices: Process for giving formal notices under the agreement
15. General Provisions: Standard boilerplate provisions including amendments, waivers, and severability
1. Foreign Investment Provisions: Required when purchaser is a non-Saudi entity, addressing SAGIA requirements and restrictions
2. Vesting Schedule: Used when shares are subject to vesting, typically in employee stock purchase arrangements
3. Tag-Along Rights: Optional protection for minority shareholders to join in sale of shares
4. Drag-Along Rights: Optional right of majority shareholders to force minority shareholders to join in sale
5. Employee Matters: Required when shares are tied to employment status or performance conditions
6. Zakat and Tax Provisions: Detailed tax treatment when specific arrangements regarding zakat or tax liability are needed
7. Shariah Compliance Declaration: Detailed section on Shariah compliance when required by investors or company policy
8. Digital Trading Provisions: Required when shares will be registered on electronic trading platforms
1. Share Certificate: Form of share certificate complying with Saudi Companies Law requirements
2. Shareholders Resolution: Copy of shareholders' resolution approving the share issuance
3. Transfer Notice: Form of notice required for share transfers
4. Regulatory Approvals: Copies of relevant CMA or other regulatory approvals
5. Vesting Schedule: Detailed schedule of vesting dates and conditions if applicable
6. Company Constitutional Documents: Relevant excerpts from Articles of Association regarding share transfers
7. Acceptance Form: Form for accepting terms and conditions of the restricted stock purchase
8. Spousal Consent: Form of spousal consent if required under applicable law
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Professional Services
Healthcare
Manufacturing
Telecommunications
Real Estate
Energy
Consumer Goods
Education
Construction
Mining
Petrochemicals
Retail
Transportation
Relevant Teams
Legal
Human Resources
Finance
Compliance
Corporate Governance
Executive Leadership
Treasury
Risk Management
Shareholder Relations
Company Secretariat
Investment Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
General Counsel
Corporate Secretary
HR Director
Compliance Officer
Legal Manager
Investment Manager
Board Member
Executive Director
Compensation Manager
Finance Manager
Treasury Manager
Corporate Governance Officer
Risk Manager
Company Director
Shareholder Relations Manager
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