A Shareholders Agreement allows you to clarify the relationship between shareholders of your company or the unitholders of your trust in a basic manner.
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A Shareholders/Unitholder Agreement will help you govern the relationship between shareholders of your company or unitholders of a unit trust.
Although you and your partners are on good terms now, sometimes running a company will put a strain on that relationship. A Shareholders Agreement helps protect your interests in these situations. If disagreements arise, it can be very helpful to have a clear idea of what the parties agreed to before the dispute, or before something changes one shareholder's ability to continue working in the company.
Use this Shareholder/Unitholder Agreement if:
- You would like to lay down the rules between the shareholders of your company.
- You would like to lay down the rules between the unitholders of your unit trust.
What does the Shareholders/Unitholders Agreement cover?
- A shareholders’ deed (for a company) or unitholders’ deed (for a unit trust)
- Governs all securities, not just shares/units
- Voting power of key security holders
- Non-compete and non-solicitation
- Board of directors, frequency of board meetings, and approach to voting
- Access to information clause
- Further funding obligations
- Approval of important actions such as special resolutions
- Dispute resolution
- Transfer of securities
- Other provisions such as confidentiality and costs
Other names for Shareholders/Unitholders Agreement include:
- Founder's Agreement; and
- Shareholders Contract.