Legal Question in Business Law in Florida

I own a Corporation and I want an employee to have a share of the Corporation. 10%. Can I limit his ability to transfer the stock and can I make the transfer contingent upon his remaining with the company. In other words if he leaves He must sell the stock back to me at face value.


Asked on 11/27/10, 2:35 pm

3 Answers from Attorneys
Richard Kaplan

Yes. It is called restricted stock, and you have to tie it to a shareholders/employment agreement.

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Answered on 12/02/10, 4:06 pm
Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I can say the other attorney is right on point here. And another important point: don't try to do this yourself. Restricted stock, required certificate legends and related shareholder-employment agreements are not do-it-yourself projects. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

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Answered on 12/02/10, 5:21 pm
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Yes -- no problem

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Answered on 12/05/10, 6:47 pm


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