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Shareholders Agreement Covering Funding
A general Shareholder Agreement that covers initial funding, further funding, appointment of directors, relations between shareholders and disposal of shares. It contains a formula for the pricing and sale of shares. A versatile agreement that can be adapted to suit a wide range of industries. This agreement contains the following clauses:
- Definitions and Interpretation
- Conditions Precedent
- Term
- Objectives
- Structure of the Company
- Board of Directors
- Decision Making
- Management
- Financial Reporting
- Accounts
- Funding
- Agreements Between Company and Shareholders
- Transfer of Shares
- Procedure on Transfer of Shares
- Determination of Sale Price
- Non-Competition
- Publicity and Confidentiality
- Dispute Resolution
- Acknowledgments and Warranties
- Termination
- Default
- Assignment
- Counterparts
- Entire Agreement
- Further Action
- Choice of Jurisdiction and Law
- Non-merger
- Notices
- Waiver
- Variation
- Costs
- Paramountcy
- No Partnership or Agency
- Severability
- Consent
27 pages long.
Suitable for Use
Pages
Shareholder Agreements
The marginalisation of one shareholder or group of shareholders is called ‘shareholder oppression’. The shareholder oppression claims heard in Australian courts are in situations where a minority shareholder (or shareholders) are being unfairly treated by a larger (and usually a majority) shareholder. The oppressive conduct provisions of the Corporations Act are
commonly used in conjunction with a claim of breach of director’s duty or in bringing an application to wind up the company entirely. Situations in which shareholder oppression occurs may be avoided by using a minority shareholder agreement, particularly in situations where the minority shareholders are making a significant financial contribution to the company.
FULL COMMENTARY IS WITH PURCHASE OF SHAREHOLDERS AGREEMENT
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