Shareholders Agreement checklist majority/minority shareholders
Checklist for a Shareholders Agreement between majority and minority shareholders
Background
Shareholders in a company where one shareholder holds a majority of the shares (more than 50%) and the other shareholder holds a minority of the shares (less than 50%) should consider having a shareholders agreement to regulate the management of the company and their relationship as shareholders.
Before preparing a shareholders agreement, it may be worthwhile for the shareholders to discuss and agree in principle how the agreement will deal with certain matters and to record this agreement in a pre-agreement checklist. The checklist can then be used as the basis for the shareholders agreement itself and should save time and future discussion on the shareholders agreement.
About this checklist
This checklist is for a shareholders agreement between two shareholders in a private limited company, one of whom is the majority shareholder and the other is the minority shareholder.
Document features:Â Shareholders Agreement checklist majority/minority shareholders
- Table format with relevant point by point explanatory commentaryÂ
- Simple and easy to completeÂ
- Alternative options for consideration and selection
- Checklist relating to the following matters:
- Parties
- Business of the company
- Shareholder roles and services
- Shareholdings
- Funding
- Director appointment rights and board decision-making
- Shareholder decision-making
- Matters requiring prior approval of specified shareholders (reserved matters)
- Future share issues
- Transfers of shares
- Shareholder information rights
- Deadlock resolution
- Shareholder restrictive covenants
- Duration and termination
Explanatory guidance
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