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    Alberta Unanimous Shareholder Agreement


    Every corporation with more than 1 shareholder should have a shareholder agreement in place, like this Unanimous Shareholder Agreement for Alberta corporations.

    • A shareholder may transfer its shares to an affiliate provided that the affiliate agrees to be bound by the terms of the Agreement. If the affiliate ceases to be an affiliate, the shares will be transferred back to the original shareholder.
    • If shareholder guarantees are required to secure the corporation's debt, each shareholder will provide its guarantee for a proportionate share in relation to his/her shareholdings. If a shareholder disposes of his interest in the corporation, the corporation will use best efforts to release and discharge his guarantee.
    • The corporation has a right of first refusal to purchase the shares of any shareholder wishing to dispose of his shareholdings. The founding shareholders have a right of second refusal, and the other shareholders have a right of third refusal.
    • Provisions for shot-gun buy-sell offers.
    • Provisions for a call by the other shareholders if a shareholder becomes involved in a divorce or matrimonial property settlement.
    • Provisions for a buy-sell upon the death or disability of a shareholder.
    • Provisions for a call by the corporation if a shareholder ceases to be employed or contracted by the corporation.

    The Alberta Unanimous Shareholder Agreement template can be easily customized for your exact needs. Download yours today.

    Download Type: Microsoft Word
    Last Updated: 14-February-2021
    SKU: 8912
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    Shotgun Clauses and Owner Managers


    Should your company shareholder agreement include a shotgun clause? Learn more about these provisions from an owner-manager's perspective, with this introductory article entitled "Shotgun Clauses & Owner Managers".

    • A 'shotgun clause' or 'buy-sell clause' is a provision in the agreement that states if a shareholder wants out of the company, he/she can force the other shareholders to buy his/her shares.
    • This article discusses the benefits and pitfalls of shotgun clauses, and the situations in which they work best.
    • The author is an Ontario lawyer, with expertise in buy-sell agreements and other shareholder issues.
    Shotgun Clauses and Owner Managers is provided in PDF format and is copyrighted by the author.