Checklist - Shareholders Agreement
The Shareholder Agreements checklist concerns those people that intend to do business through a company structure and where the shareholders have agreed to enter into an agreement in respect of the conduct of the business of the company, to record the aims and objects of the the shareholders in relation to the company and to provide for the operation and administration of the company.
Specific matters covered include
- Shareholdings of each party
- Each director/shareholder time commitment to the company and the business
- Restrictions on the transfer of shares (first rights of refusal to other shareholders)
- Shareholder director nominations
- Management of the company
- On what matters/issues must there be unanimous consent
- The appointment of professional advisers to the company
- Loans/advances to the company via associated parties
- Company policies
- What happens upon a party breaching the Shareholders Agreement
- Termination of the Agreement