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Restricted Stock Purchase Agreement

This documents the acquisition of, and rights and obligations with respect to, a stockholder’s (typically a founder’s) initial purchase and ownership of capital stock in the corporation, including transfer restrictions and applicable vesting provisions, if any.

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The restricted stock purchase agreement is used when “restricted” equity is issued to a stockholder of a corporation (typically a founder, or initial executive, or director). The agreement contains restrictive covenants such as conditions on the sale or transferability of such shares of capital stock (such as rights of first refusal or co-sale), details regarding vesting, voting restrictions, and/or provisions regarding the repurchase rights of the corporation and how such rights may lapse or expire over time.