Clearly establish how the shares of a departing (or deceased) shareholder in a corporation will be dealt with, set the terms with this Buy-Sell Agreement for the Province of British Columbia. This Agreement was originally written for a corporation with two equal shareholders. Provisions of the Agreement include:

• mandatory (shotgun) buy-sell notice from a departing shareholder to the remaining shareholder;
  
• mandatory buy-sell provision upon the death of a shareholder, whereby the surviving shareholder must purchase the interest of the deceased shareholder;
  
• each shareholder holds life insurance policies on the other, and the proceeds may be applied to the purchase of the deceased's shares by the survivor.

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