Right of First Refusal Clause for Shareholder Agreement

This Right of First Refusal clause can be inserted into a Shareholder Agreement. This provision states that upon receipt of an arm's length offer from a third party, a shareholder must allow the other shareholders right of first refusal to purchase his or her shares before selling them to the third party. This generic Shareholder Agreement Right of First Refusal clause is provided in MS Word format and is fully editable.