Products tagged with 'unanimous shareholder agreement'

Create a Unanimous Shareholders Agreement for an Ontario corporation owned by equal partners with this comprehensive template.

• This template agreement includes:
  • a mechanism to avoid deadlock in voting;
  • conditions governing shareholder loans;
  • future financing from profits and ⁄ or third party lenders;
  • terms of employment and termination of employees who are shareholders;
  • benefits for disability;
  • company buy-back of shares on death;
  • shareholder inventions become property of company;
  • arbitration procedure and special rules for disputes over fair market value of shares;
  • remaining shareholder's right of first refusal to purchase departing partner's interest.
• Available in MS Word format and fully editable to fit your specific circumstances.
• Intended to be used only in the Province of Ontario, Canada.

Provide for special majority rights for shareholders in an Ontario company with this downloadable Unanimous Shareholders Agreement.

• Special majority rights include a right of first refusal on minority share transfers (less than 10%), right to carry along minority shareholders on a sale of the company, and a call option to purchase the minority interest on death, disability, termination or change of control of the minority shareholder.
• Minority shareholders have piggyback rights for change of control transactions, and a put option to sell their interest on death, disability, termination or change of control of the minority shareholder.
• Minority shareholders must waive certain dissenting rights.
• Available in MS Word format.
• Intended to be used only in the Province of Ontario, Canada.

Every Alberta corporation with more than 1 shareholder should have a shareholder agreement in place.

Transfer of Shares to an Affiliate

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.

Right of First Refusal

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.

Shareholder Guarantees

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.

Additional Key Provisions

• Shotgun buy-sell offers.
• Provisions for a call if a shareholder's shares may become subject to a matrimonial property settlement.
• 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.

Format and Jurisdiction

This Unanimous Shareholder Agreement template is downloadable and available in Word format and can be easily customized for your exact needs.

This legal document is intended to be used only in the Province of Alberta, Canada.