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    Ontario Unanimous Shareholders Agreement Between Shareholders and Nominees


    Shareholder nominees are included under the provisions of this Unanimous Shareholders Agreement for Ontario business corporations.

    • Shareholder loans must be secured by a security agreement over the corporation's assets, are non-interest-bearing and become immediately due and payable upon the bankruptcy or receivership of the corporation.
    • Clauses providing for employment and termination of shareholders as employees.
    • Non-competition and non-solicitation provisions.
    • Each shareholder indemnifies the other shareholders and the directors of the corporation against liability.
    • All share certificates will be held in escrow by the corporation's lawyers.
    • The remaining shareholders have a right of first refusal to purchase the shares of a departing shareholder.
    • In the event of a take-over offer, the minority shareholders have the option to buy out a majority shareholder or, alternatively, to consent to the take-over.
    • If a shareholder wishes to withdraw, the remaining shareholders must agree on a buy-out procedure, failing which they may vote to wind up the company, sell the shares to a third party, or offer all shares of the company for sale.
    • AVailable in MS Word format.
    • Intended to be used only in the Province of Ontario, Canada.
    Download Type: Microsoft Word
    Last Updated: 10-April-2022
    SKU: 3312
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