Shareholder Agreement Bc
(the above give shareholders some influence in the event that a useless candidate is appointed. First, this should not be a problem, as shareholders also act as directors.) Right to first refusal: If a shareholder wishes to sell his shares and part of the company, he must first propose to sell his shares at fair value to other shareholders. If the shareholders cannot buy them, the selling shareholder can offer them to a third party. If you are dealing with a closely managed company with more than one shareholder, you should always inform shareholders of the need to consider a shareholders` pact. If, at the time of signing the contract, you are seated by all shareholders with a common part of the agreement, you should recommend to each shareholder to have the agreement verified by an independent lawyer before signing. If you are one of the shareholders on the basis of a shareholder to design the shareholder contract, then inform others that you are not acting for them and that each person must obtain independent legal advice. In the event that a candidate on the board of directors of one of the shareholders does not vote on the provisions of this agreement and acts as a director, the shareholders agree to exercise their right as shareholders of the company and in accordance with the company`s statutes, to remove that candidate from the board of directors and to elect such a person on the spot or even in their place who will do its best to implement the provisions of this agreement. , but only if the shareholder whose candidate has been withdrawn does not appoint a successor within fourteen days of the date on which the candidate was withdrawn. (This full section allows a shareholder to sell his shares to other shareholders, otherwise he can sell them to other parties – with conditions!) Shotgun-Commission: a pump gun exit provision, also known as a purchase agreement, may be used due to shareholder dispute and it is stipulated that Shareholder 1 may offer to buy shares from Shareholder 2, with shareholder 2 either selling at the offer price or turning around and buying shareholder 1 shares at the same price. (This section simply gives a smaller shareholder the right to “participate” if a group of shareholders holding the majority of the shares wishes to sell its shares. Similarly, if most shareholders receive an offer from an acquirer for 100% of the company, some shareholders may be “coached” and forced to sell their shares, as in Section 137 of the BCBCA, where the directors` powers are limited under a Us, shareholders who obtain such powers, including all rights, powers, powers , obligations and obligations of directors under the status of the company and that directors have their respective rights.
, obligations and duties are released. Debts incurred by shareholders in such circumstances may be taxable, governed by corporate law (i.e. for the payment of dividends or the acquisition of shares in violation of legal solvency requirements or for employees` salaries, etc.) or liability under other laws (e.g. B.dem Employment Standards Act). For example, Pat, Chris and Jean are the founding shareholders (the “founders”) of the company and Mikey is an angel investor; 6.3 In the event that, under the terms of this agreement, one or more of the shareholders may sell, sell, transfer, transfer, transfer or transfer one of its shares to a person, company or company other than any of the parties involved, the transfer is not made or effective and no application to register such a transfer to the company is made until the purchaser has entered into an agreement with the other parties agreement and any other agreement. with the company in which the ceding company is involved.