I Run the business of the Corporation according to the law and sound business practices; II Determine the current assets of the Corporation for the purposes of establishing if and when distributions will be made; III Maintain records, books, and all other documents required for corporate accountability as required by the state of Alabama; IV Send the Shareholders a report, at least annually, for approval of distributions and other financial accountability; V File any and all legal and maintenance documents for the Corporation as required by the state of Alabama; The Board shall be elected each year at the annual meeting of the Shareholders held the prior year.
The Corporation especially warrants that it has corporate authority to enter into and be bound by the obligations of this Agreement. Whenever under this Agreement notice is required to be given, it shall be given in writing served in person or by registered mail, return receipt requested, and it shall be deemed to have been given upon personal delivery or on the date notice is posted.
The Corporation may, but is not required to, issue distributions to its shareholders from time to time. All Parties consent to jurisdiction under the state and federal courts within the state of Alabama. All communications made or notices given pursuant to this Agreement shall be in the English language.
Such winding up activities may include: If any shares are not purchased pursuant to the aforesaid offers, the Offeror shall for a period of ninety 90 days thereafter be free to transfer such shares to the person or person so named at writing a shareholders agreement form price per share and upon the other terms so named; provided that any such transferee of those shares shall thereafter be bound by all of the provisions of this Agreement.
No amendment to this Agreement shall be valid without written agreement of all Shareholders of the Corporation. Following that, debts to Shareholders will be paid subject to any subordination agreements.
Article 1 — Purpose of Agreement 1. The Agreement may not be amended or terminated orally but only as expressly provided herein or by an instrument in writing duly executed by the parties hereto. You may want to also designated where such a dispute would be decided and whether or not the prevailing party would be entitled to attorney fees from the other.
Shareholders each hereby acknowledge and agree that any and all business opportunities which are similar to the business of Corporation and which may come before Shareholder during the time period that Shareholder remains a Shareholder of the Corporation or is employed in any capacity by the Corporation or is acting as a Director or Officer of the Corporation are the exclusive opportunities and property of the Corporation and Shareholder shall not usurp any such opportunity.
In the event that the Corporation chooses to issue such dividends, the decision will be made by the Board, including when and what amount of dividends will be issued.
The offer of sale must be in writing and must list the name and contact information of the offeree and the offeror, the number of shares being offered, the price at which the Shares shall be sold, the date by which the offer must be accepted, and any additional terms.
The Shareholders listed above own the number of shares of common stock, and approximate percentage of company ownership, as listed below: This Agreement constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous understandings, whether written or oral.
If such good faith resolution is unsuccessful, the Shareholders shall then submit the issue to mediation in accordance with the then-existing statutory rules of mediation. This Agreement will be binding on the parties to the Agreement and on each of their heirs, executors, administrators, successors, and assigns.
The shares listed in this certificate are subject to a Shareholder Agreement, executed by the Corporation and all shareholders.
The Shareholder or Shareholders wishing to sell, transfer, or otherwise dispose of their shares hereinafter the "Seller" shall first offer the shares back to the Corporation. Offers not explicitly accepted are deemed to have been declined. No waiver of any term or provision of this Agreement shall constitute a waiver of any other term or provision or of the same provision on a future date.
Any and all sales hereunder with respect to the Departing Shareholder shall be made within sixty 60 days after written notice of intent to sell served on the Corporation and the remaining Shareholders.
The requesting officer, which may be any of the Officers of the Corporation, will submit such a request to the Shareholders along with a list of two outside financial services firms. You can select arbitration, mediation, or perhaps a trusted third party.
The Board has appointed a Chairman to preside over Board meetings and to act as a liaison between the Officers of the Corporation and the Shareholders. This Agreement, or the rights granted hereunder, may not be assigned, sold, leased or otherwise transferred in whole or part by either Party.
Headings to this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement. Each Shareholder will be a Director of the Corporation "Director" or "Directors"subject to the terms and conditions of this Agreement.
This Agreement shall be governed in all respects by the laws of the state of Alabama and any applicable federal law.MaRS has created a sample template of a shareholders agreement to help streamline business for startups, investors, founders and their respective legal advisors.
While MaRS makes this document available for educational purposes and to facilitate the negotiation of terms between investors and startups, the template is yours to use at your own risk.
A Shareholder Agreement is a contract between the shareholders of a corporation, which defines the roles of shareholders and specifies duties the corporation has to them. Use this agreement to name a managing shareholder, and define what corporate actions require the consent of the shareholders.
A Shareholder Agreement is a contract between the shareholders of a corporation, and governs the shareholders' relationship to the corporation and each other. Create your free shareholder contract using our step-by-step guided process.
Available to print or download in all states. Such distributions may take the form of monetary dividends. Any notice to be given under this Agreement shall be in writing and shall be sent by first class mail or air mail to the address of the relevant Party set out at the head of this Agreement.
executed by the Corporation and all shareholders. Such Shareholder Agreement may. Appendix 1 – Sample Shareholder Agreement #1 WHEREAS, the Shareholders hereto deem it to be in the best interest of the Corporation to act together concerning the Shareholders in writing every six (6) months.
If no such written determination has been agreed upon. Shareholders agreement, as how Wikipedia would simply define it as, is a an agreement involving the shareholders of the company bounded by law. It is also regulated by the constitutional documents of the company, depending where you live in.Download