Cross Purchase Buy Sell Agreement Template for Australia

1. Right of First Refusal: Optional provision giving remaining owners first right to purchase if an owner wants to sell to a third party

2. Tag-Along Rights: Gives minority owners the right to join in a sale by majority owners

3. Drag-Along Rights: Allows majority owners to force minority owners to join in a sale

4. Life Insurance Trustee: Appointment and duties of trustee managing insurance policies, if using insurance trust structure

5. Non-Competition Provisions: Restrictions on departing owners competing with the business

6. Disability Definition: Detailed definition of disability if including disability as trigger event

7. Management Transition: Procedures for transitioning management responsibilities upon triggering event

8. Cross-Option Agreement: Alternative structure giving mutual options to buy/sell rather than mandatory obligation

1. Schedule A - Current Ownership Schedule: Details of current ownership percentages and classes of shares/interests

2. Schedule B - Insurance Policy Details: List of insurance policies, coverage amounts, and beneficiaries

3. Schedule C - Valuation Formula: Detailed methodology for business valuation

4. Schedule D - Purchase Price Calculation: Template for calculating purchase price based on valuation formula

5. Schedule E - Transfer Documents: Pro forma share transfer forms and other required documentation

6. Appendix 1 - Certificate of Independent Legal Advice: Confirmation that each party received independent legal advice

7. Appendix 2 - Spouse Consent Forms: Consent forms signed by spouses waiving rights to business interests

8. Appendix 3 - Company Constitution/Shareholders Agreement Reference: Relevant excerpts from company constitution or shareholders agreement