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Canada Shareholder Agreement with Put Option
Protect the interests of the shareholders of a Canadian company with this Shareholder Agreement with Put Option.
- The Shareholder Agreement establishes the obligations of the shareholders and the corporation to each other, and sets out any restrictions on share transfers or the issue of new shares.
- The remaining shareholders have a right of first refusal to acquire the shares of a departing shareholder, before the shares can be offered to a third party.
- A departing shareholder also has a buy-sell or "put" option, which would require the remaining shareholders to purchase his/her shares. The put option is available only after the departing shareholder has been unsuccessful in finding a third party purchaser for a period of 6 months.
- Buy-sell options for both an assured buy-out and a mandatory or "shotgun" buy-sell.
- If a shareholder dies, the surviving shareholders have the option to buy the deceased shareholder's shares, failing which they must be purchased by the corporation.
Download: Canada Shareholder Agreement with Put Option
Related Forms:
- Canada Unanimous Shareholder Agreement Checklist
- Canada Unanimous Shareholder Agreement with License to Use Trade Mark
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