Right of First Refusal Clause for Shareholder Agreement

This Right of First Refusal clause can be inserted into a Shareholder Agreement to govern how a shareholder disposes of its shares.

This clause provides that upon receipt of an arm's length offer from a third party to buy a shareholder's interest, the selling shareholder must give the other shareholders a right of first refusal to purchase his or her shares before selling them to the third party.

The Right of First Refusal Clause for Shareholder Agreement is provided in MS Word format and is fully editable.