Value of shares of stock. In order to determine the value of shares of stock of _________ company, referred to as A, to be paid by _________, referred to as buyer, to _________, referred to as seller, it is agreed between seller and buyer as follows: 1. Buyer agrees to purchase from seller all of the shares of stock of A, owned by seller, at a price to be fixed as provided in this agreement. 2. In order to arrive at the present fair market value of the stock, the assets of A shall be appraised by three appraisers, one of whom shall be appointed by each of the parties to this agreement, and the two appointed shall select a third who shall constitute a board of appraisers for the purposes of this agreement. 3. Each of the parties shall select the person to act as his [her] appraiser within _________ days from the signing of these presents and the appraisers selected shall immediately meet and select the person who shall act as the third member of the board of appraisers, and as soon as the inventory has been furnished, the appraisers shall meet at A's place of business and proceed to appraise the property and assets of the company and place a fair market value on the property and assets as of the date of appraisement, taking into consideration not only the physical assets of A, but also the goodwill of business, accounts, railroad claims, and all other property of A of every kind and character. 4. Appraisers shall make their report in writing and a copy of the report shall be furnished to each of the parties. 5. For purposes of this agreement, the appraisers shall act as a board of arbitration but neither party shall introduce any evidence before the board other than the examination to be made by the board of the assets of A and the findings and report of the board shall be final and conclusive between the parties and binding on them. Either of the parties may give the findings and report the force and effect of a judgment, as provided by section _________ of _________ of _________, _________[date], it being the intention of the parties that this agreement shall be construed as a statutory arbitration agreement, as provided by the statutes of the state of _________. 6. If for any reason the board of three appraisers is unable to agree on the market value of the stock, the third member of the board who has been selected by the two first appointed by the parties shall be released and discharged and the two appointed by the parties shall proceed to select a new third member of the board, who shall act with the other two, and this method shall be continued until three appraisers have been selected who are able to agree upon the valuation of the stock. 7. Whenever seller has been paid in full for his [her] stock, each party will execute and deliver to the other a full receipt and release of all claims and demands held by each against the other.