Corporate Resolutions Repurchasing Shares for Cancellation

Use this downloadable Share Repurchase (or Buy-Back) Agreement to transfer shares from a shareholder back to the corporation.

• The Agreement is secured by a promissory note, and the template includes a sample form of promissory note.
• The corporation will cancel the shares after buying them back.
• The vendor represents that the shares are free of encumbrances and security interests against them.
• Both parties agree to take all actions necessary to complete the transaction.
• The Share Repurchase Agreement allows the corporation to reduce the number of outstanding shares and retain share value.
• This is a generic legal form which can be used in many jurisdictions. Available in MS Word format.

Prepare a Borrowing Bylaw (Bylaw No. 2) with this downloadable template for an Ontario business corporation.

• Bylaw No. 2 sets out the power and authority of the corporation's Board of Directors to:
  • borrow money,
  • create debt obligations,
  • grant security to lenders on behalf of the corporation, and
  • to delegate those powers to committees or officers.
• The template is provided in MS Word format.
• Intended to be used only by corporations incorporated in the Province of Ontario, Canada.

Learn the Top 10 Tips to a Winning Exit Strategy with this 8-page article written by an expert business lawyer.

• The aim of the article is to help small business owner-managers prepare a succession plan to ensure that their businesses continue to thrive after their departure.
• These top 10 tips can help you put together a successful exit strategy that not only addresses your personal needs, but is also in the best interests of the business.
• The author is an Ontario lawyer whose main focus is small businesses.
• Available as a PDF download.

Protect your confidential information against unauthorized use by a current or past employee with this Noncompetition, Confidentiality and Nondisclosure Agreement.

• All new employees should sign the agreement prior to commencing employment.
• You should also have your current employees execute a copy of the Agreement as well.
• The employee agrees to keep all proprietary information and data belonging to the employer confidential during and after the term of employment.
• The employee covenants not to work for any business competing with the employer's business for a specified period of time after the termination of employment.
• This is a generic legal form which does not contain references to any specific laws or regulations.

Don't lose your competitive edge to an ambitious ex-employee. Buy the Employee Noncompetition, Confidentiality and Nondisclosure Agreement for your business today.

Would your business survive the death or retirement of one of the owners? Provide for the continued existence of the business with this Canada Shareholder Buy-Sell Agreement (Corporate Redemption Method).

• The corporation obtains life insurance policies on each of the shareholders and uses the proceeds to fund the redemption, acquisition or cancellation of the corporation's shares.
• Upon the death of a shareholder, the corporation redeems the deceased shareholder's shares and makes an election that the deemed dividend is to be paid from the capital dividend account to the extent possible.
• The Agreement contains several different options for methods of valuating the shares.
• The Agreement is made pursuant to the Income Tax Act (Canada).
• This Shareholder Buy-Sell Agreement (Corporate Redemption Method) is available as a downloadable and fully editable MS Word template.