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confused wife regarding power-in-fact

Started by bpcwife, Feb 07, 2009, 06:51:37 AM

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bpcwife

My husband, whose moved away from New York City to Miami, unexpectedly is actually being very nice to me again. I was suspicious as to why and a week ago I was asked to signed papers because he was starting a new company. can anyone help me to understand what this all means.

Vesting Commencement Date:_______, 2009

I, -----------, spouse of --------------------,have read and hereby approve the foregoing Agreement.In considerationof the Company's granting my spouse the right to purchase the Shares asset forth in the Agreement, I hereby agree to be irrevocably bound bythe Agreement and further agree that any community property or similarinterest that I may have in the Shares shall be similarly bound by theAgreement. I hereby appoint my spouse as my attorney-in-fact withrespect to any amendment or exercise of any rights under the agreement.

      
Spouse
of_________________________


Question--
   If I sign this paper am I giving up all my rights to the company ? or is this paper just allowing my husband to make decisions in the percentage of stocks I am to have.  and if we divorce, can I still get a portion of the company?

Any help will be much appreciated.... thanking all of you.

gemini3

Depends on what's written in the agreement.  You should take this to a contract attorney and have them review it.  I wouldn't sign any contract unless my attorney approved it first.