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RITSCHARD BROS., INC. <br />South Bend, Indiana <br />NOTES TO FINANCIAL STATEMENTS <br />November 30, 2020 and 2019 <br />NOTE 11- BUY - SELL AGREEMENT <br />The Company and the shareholders have entered into a buy -sell agreement. In the event of death or withdrawal <br />from active employment with the Company, the shareholder must sell and the Company must redeem all of the <br />withdrawing shareholder's stock based on the value established by the agreement. If the Company is unable to <br />purchase any of the shares, then the non -selling shareholders will be obligated to purchase the selling <br />shareholder's shares at a value agreed to by the shareholders. The value is determined by a formula based on <br />book value. <br />