How a Software & It Services Business Hired a Lawyer to Draft a Stock Purchase Agreement in California

In 2023, a business in California sought assistance with drafting a stock purchase agreement to facilitate the distribution of 10 million common stock shares among its co-founders and employees. The client needed to ensure that both co-founders could acquire 4 million shares each, while allocating an additional 2 million shares for employee distribution. They aimed to structure the agreement with a four-year vesting plan that includes a one-year cliff, along with a mechanism for reinvesting the proceeds back into the company's account. As a result, the client received 10 proposals from licensed attorneys, with flat fee bids ranging from $250 to $1,150, all submitted to meet the client's requested deadline of one week.