06 21 PRE-INCORPORATION AGREEMENT

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

06-21 PRE-INCORPORATION AGREEMENT

PRE-INCORPORATION AGREEMENT

This PRE-INCORPORATION AGREEMENT ("Agreement") has been executed in multiple copies as of the [day] day of [month, year], by [names of investors] (collectively "Investors" and individually "Investor") and [corporate name], an Arkansas corporation to be formed pursuant to the Arkansas Business Corporation Act of 1987 (the "Act"), the same being Ark. Code Ann. §§ 4-27-101 et seq. (the "Corporation") which shall thereafter ratify this Agreement.

WHEREAS, the purpose of this Agreement is to set forth the agreement of the parties with respect to formation and operation of the Corporation.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and for the purposes of prescribing the terms and conditions of formation of the Corporation, the mode of carrying the same into effect, and such other details or provisions as are deemed necessary or advisable, the parties agree as follows:

ARTICLE I FORMATION

1.1 Organization. As soon hereafter as reasonably practicable, the parties shall cause to be formed pursuant to the Act a corporation to be called [corporate name], or such other name as shall be deemed appropriate by the parties. The Articles of Incorporation, Bylaws and other corporate documents of the Corporation shall make provision for, among other things, the following:

A. The principal stated business purpose of the Corporation will be [nature of business], either directly or indirectly through one or more wholly owned, majority owned or controlled corporations, limited or general partnerships, joint ventures or other entities as may be deemed appropriate, and otherwise to engage in any lawful business for the purpose of making a profit.

B. The parties intend to incorporate the Corporation on or about [incorporation date] with the corporate business activities to commence as soon as practical thereafter.

C. The Corporation shall be authorized to issue an aggregate of [number of shares] shares of stock with par value of [par value], and only one class of stock will be authorized.

D. The Corporation shall have [number of directors] directors initially and the initial board of directors shall consist of: [names of initial directors].

E. The persons listed below shall be elected to serve as the initial officers of the Corporation upon its formation in the capacities set beside their respective names:

[president name] President
[secretary-treasurer name] secretary-Treasurer

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