Chapter 7 - THE TRANSFER AGREEMENTLeah reviewed the hospital folder.
It contained more than one document.
Share Transfer Agreement.
Irrevocable Voting Proxy.
Amendment to Family Shareholder Agreement.
Acknowledgment of Consideration.
Waiver of Independent Valuation.
That last one made her swear.
Quietly.
Professional swearing.
“What?”
She turned the page toward me.
The transfer price for my twelve percent was not stated as fair market value.
It referenced a formula based on book value.
Estimated payment:
$4.8 million.
My shares were likely worth far more.
Maybe $18 million.
Maybe $21 million.
Not instantly liquid.
Still.
“Why would I waive valuation?”
“You wouldn’t.”
“Did Dad draft this?”
“Company counsel appears to have.”
“Company counsel represents the company.”
“Correct.”
“Not me.”
“Correct.”
The documents included a declaration that I had voluntarily decided to divest because “changed personal circumstances” created uncertainty about long-term family ownership.
Kirk.
May you like
My son had been translated into changed personal circumstances.
I felt sick.
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