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Closely Held Corporation Shareholder Agreement
"I need a Closely Held Corporation Shareholder Agreement for our family-owned manufacturing business with five shareholders, including specific provisions for succession planning and a first right of refusal mechanism to keep ownership within the family."
1. Parties: Identifies all shareholders and the corporation as parties to the agreement
2. Background/Recitals: States the purpose of the agreement and basic corporate information
3. Definitions: Defines key terms used throughout the agreement
4. Share Ownership and Transfer Restrictions: Details current ownership structure and restrictions on transfer of shares
5. Corporate Governance: Outlines voting rights, board composition, and meeting requirements
6. Buy-Sell Provisions: Establishes procedures for purchase/sale of shares in specific circumstances
7. Term and Termination: Defines duration of agreement and termination conditions
1. Tag-Along Rights: Minority shareholder protection allowing them to join in sale of majority shares
2. Drag-Along Rights: Majority shareholders can force minorities to join in sale
3. Employment Provisions: Terms of shareholder employment with the corporation
4. Non-Compete Provisions: Restrictions on competitive activities
1. Schedule of Shareholders: List of all shareholders and their shareholdings
2. Share Valuation Method: Detailed methodology for valuing shares
3. Corporation Details: Certificate of incorporation, bylaws, and other corporate documents
4. Form of Share Transfer Notice: Template for notifying intent to transfer shares
5. Board Resolution Template: Standard format for board resolutions
Authors
Articles of Incorporation
Board of Directors
Business Day
Bylaws
Call Option
Common Stock
Company
Confidential Information
Corporation
Disability
Drag-Along Rights
Effective Date
Fair Market Value
Family Member
Fiscal Year
Good Cause
Intellectual Property
Majority Shareholders
Material Breach
Minority Shareholders
Notice
Permitted Transfer
Person
Preemptive Rights
Put Option
Qualified Public Offering
Related Party
Right of First Refusal
Shares
Shareholder
Tag-Along Rights
Transfer
Triggering Event
Valuation Date
Voting Rights
Share Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Put and Call Options
Voting Rights
Board Composition
Management Rights
Preemptive Rights
Share Valuation
Dividend Policy
Information Rights
Confidentiality
Non-Competition
Non-Solicitation
Death and Disability
Dispute Resolution
Buy-Sell Provisions
Exit Rights
Amendment Procedures
Term and Termination
Representations and Warranties
Indemnification
Notice Requirements
Governing Law
Deadlock Resolution
Meeting Requirements
Capital Contributions
Assignment Rights
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