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Shareholder Exit Agreement
"I need a Shareholder Exit Agreement for a minority shareholder leaving our tech startup, selling 15% shareholding to existing shareholders, with strict non-compete provisions and payment in installments over 12 months starting March 2025."
1. Parties: Identification of all parties to the agreement including the exiting shareholder(s) and remaining shareholders
2. Background: Context of the exit, including current shareholding structure and reason for exit
3. Definitions: Key terms used throughout the agreement
4. Share Transfer Terms: Details of shares being transferred, price, and payment terms
5. Completion Mechanics: Process and timeline for completing the exit
6. Warranties and Representations: Standard warranties regarding share ownership and authority to sell
1. Non-Compete Provisions: Restrictions on future competitive activities, used when protecting business interests from exiting shareholder with significant knowledge
2. Good Leaver/Bad Leaver Provisions: Different treatment based on circumstances of exit, applicable when shareholder is also an employee
3. Continuing Obligations: Ongoing responsibilities post-exit, used when there are lasting commitments or liabilities
1. Share Transfer Form: Standard form for executing the transfer
2. Valuation Report: Independent valuation of shares (if applicable)
3. Resignation Letters: Template letters for resignation from directorship or other positions
4. Tax Clearances: Required tax clearances or confirmations from relevant authorities
Authors
Articles of Association
Bad Leaver
Board
Business
Business Day
Completion
Completion Date
Confidential Information
Consideration
Encumbrance
Exit Date
Good Leaver
Group
Intellectual Property Rights
Law
Parties
Purchase Price
Remaining Shareholders
Sale Shares
Share Transfer Form
Shareholder Reserved Matters
Shares
Subsidiary
Tag-along Rights
Tax
Transaction Documents
Transfer
Valuation
Warranties
Purchase Price and Payment
Completion Mechanics
Warranties and Representations
Confidentiality
Non-Competition
Non-Solicitation
Tax Covenants
Intellectual Property Rights
Continuing Obligations
Release of Claims
Good Leaver/Bad Leaver Provisions
Severance
Governing Law and Jurisdiction
Dispute Resolution
Notices
Assignment
Entire Agreement
Variation
Waiver
Costs
Further Assurance
Tag-along Rights
Drag-along Rights
Pre-emption Rights
Board Resignation
Return of Company Property
Announcements
Survival of Obligations
Third Party Rights
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