Unanimous Shareholders Agreement.docx
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- 上传时间:2023-02-07
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Unanimous Shareholders Agreement.docx
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UnanimousShareholdersAgreement
ThisAGREEMENTmadethe____dayof_______20___between:
_____________________,
of________intheProvinceof________
(hereinafter“________”)
OFTHEFIRSTPART
-and–
_____________________,
of________intheProvinceof________
(hereinafter“________”)
OFTHESECONDPART
-and-
_____________________,
of________intheProvinceof_________
(hereinafter“________”)
OFTHETHIRDPART
-and-
_____________________LTD.,
an_________Corporation
(hereinafterthe“Corporation”)
OFTHEFOURTHPART
UNANIMOUSSHAREHOLDERSAGREEMENT
WHEREAStheCorporationisacorporationunderthelawsoftheProvinceof________;
ANDWHEREAStherehave,asofthedateofthisAgreement,beenissuedandarenowoutstandingthefollowingsharesoftheCorporation;
(a)__Class"A"CommonVotingSharesinthenameof_________;
(b)__Class"A"CommonVotingSharesinthenameof_________;
(c)__Class"A"CommonVotingSharesinthenameof_________;
ANDWHEREASalloftheShareholderswishtoestablishtheirrightsandobligationsinrespectofthesharesnoworhereafterownedbythem,theelectionorremovalofdirectors,themanagementandcontroloftheCorporationandcertainothermattersashereinaftersetforth.
ANDWHEREASthePartiesagreethatitisinthebestinterestsoftheCorporationtoenterintoanagreementprovidingfortheorderlydispositionofsharesupontheoccurrenceofcertainspecificevents.
ANDWHEREASthePartiesheretointendthatthisAgreementshalloperateandbeconstruedasaUnanimousShareholdersAgreementunderthe________BusinessCorporationsAct(the"Act");
NOWTHEREFOREthisAgreementwitnesseththatinconsiderationofthepromisesandmutualcovenantsandconditionshereinaftersetforth,thePartiesheretoagreeasfollows:
1.DEFINITIONS
1.01"CommonShare"meansaCommonVotingShareoftheCorporation.
1.02"CommonShareholder"meansatanyparticulartimethoseShareholderswhoatthattimearetheownersofoneormoreCommonSharesoftheCorporation.
1.03"ControllingShareholder"whenusedinrelationtoaCommonShareholderwhichisaCorporationmeansthatIndividualwhoowns,attheparticulartime,thelargestnumberofissuedandoutstandingvotingsharesinthecapitalofthatCommonShareholderprovidedthatifmorethanoneIndividualownsthesamenumberofsuchsharesandeachexceedsanyotherPerson'sshareownershiporifallIndividualsowningsuchsharesownanequalnumberthentheexpressionshallmeantheoldestofsuchIndividuals.
1.04“GuaranteeAgreement"meansanagreementbywayofaguaranteegivenorrequiredtobegivenpursuanttotheprovisionsofthisAgreementbytheCommonShareholderswhichmaybegivenfortherepaymentofanyindebtednessoftheCorporationorfortheperformancebytheCorporationofanyofitsotherobligations.
1.05“Individual"meansanaturalPerson.
1.06"Person"includesanIndividual,apartnership,anincorporatedcompany,atrust,anunincorporatedassociation,agovernmentorotherdepartmentoragencythereofandthelegalrepresentativeofanIndividual.
1.07"Shareholder"meansanyoneoftheShareholdersandwherethecontextsorequiresincludestheControllingShareholderofacorporateShareholder.
1.08“Shareholders"meansatanyparticulartime:
(a)thosePersonswhohavesubscribedtothisAgreementandattheparticulartimearetheregisteredholdersofoneormoresharesinthecapitaloftheCorporation;and
(b)thosePersonswhohavenotsosubscribedbutareboundbyoperationoflawattheparticulartimebytheprovisionsofthisAgreement.
1.09“ShareholderInterest”meansallthesharesoftheCorporationbeneficiallyownedbyaShareholdertogetherwithsuchloansowedbytheCorporationtothatShareholder.
1.10“SpecialResolution”meansaresolutionpassedbyamajorityofnotlessthan2/3ofthevotescastbytheShareholderswhovotedinrespectofthatresolutionorsignedbyalltheShareholdersentitledtovoteonthatresolution.
2.PURPOSEOFTHEAGREEMENT
2.01EachoftheShareholdersentersintothisAgreementwiththeobjectandintentofregulatinganddetermining,inthemannerhereinafterappearingandexpressed,certainoftheirrespectiverightsandobligationsasthebeneficialownerofoneormoresharesoftheCorporationandcertainoftheirrightsandobligationstoeachoftheremainingShareholders.
3.TERMOFAGREEMENT
3.01ThisAgreementshallremaininforceuntilterminatedassetoutinArticle23.01.
4.DIRECTORS
4.01TheShareholderswillvotetheirsharesintheCorporationsoastoinitiallyelecteachofthefollowingasDirectorsoftheCorporation:
(a)________________;
(b)________________;and
(c)________________.
.
4.02ACommonShareholderoraControllingShareholdershallbeentitledtobeaDirectoroftheCorporationforsolongastheCommonShareholderoritsControllingShareholderisfunctioningorcarryingouttheroleandresponsibilityrequiredasaparticipatingdirectoroftheCorporationorforsolongastheCorporationisindebtedtotheCommonShareholderortotheControllingShareholder’scorporation.TheentitlementtobeaDirectormaybeextendedtootherShareholdersorotherPersonsbyaSpecialResolutionoftheShareholders.IntheeventthataShareholderwhoisadirectorwithdrawsfromtheirroleasadirectoroftheCorporationandintheeventthatalloftheShareholder’sloansowingtothatdirectorortothatdirector’scorporationhavebeenpaidinfull,thentheentitlementtobeadirectormaybewithdrawnonthepassageofaSpecialResolutionoftheShareholderstothateffect.
4.03ItistheintentionoftheShareholdersthattheyshallalwayshaveinputintothepolicydecisionsoftheCorporation,bothintheircapacityasShareholdersaswellasthatofdirectors.However,intheeventaPersonisappointedtoberesponsiblefortheday-to-daymanagementoftheCorporationandfortheimplementationofthepolicydecisionsoftheBoardofDirectors,theShareholdersagreetorefrainfromundueinterferencewiththePersonsoappointedinthedischargeoftheirobligations.
4.04SubjecttothefurtherprovisionsofthisAgreement,iftheCommonShareholdersagreetoaCommonShareholderenteringintoanagreementtosellhissharesintheCorporationtoanotherPerson,thesellingCommonShareholderwillnolongerbeentitledtobeaDirectoroftheCorporationnorwillthesellingCommonShareholderbeentitledtoassigntothepurchaseranyentitlementtobecomeaDirector.ThecontinuingShareholdersandDirectorsmayenterintoanagreementwiththepurchasingShareholdertoextendthatprivilegetohim.
5.PERSONALBUSINESSINTERESTS
5.01TheShareholdersmayhaveotherbusinessinterestsfortheirpersonaladvantageprovidedthatthepursuitofsuchpersonalinterestsdoesnotinterferewiththeShareholder’semploymentordirectorshipdutiestotheCorporation.TheShareholdersshalldisclosetoeachothertheirotherbusinessinterests.
6.INITIALADVANCES
6.01TheCommonShareholdersagreethateachofthemwillprovideaninitialadvancetotheCorporationinanamountsetforthonSchedule“A”attachedheretoandpursuanttotheprovisionsofaloanagreement.OtherthaninthecaseofthedeathofaCommonShareholderoraControllingShareholder,thetermsofeachloanagreementwillprovidethateachoftheloansmadebyeachoftheCommonShareholderswillbeonthesametermsandconditionsandtheCorporationwillrepaythesameproportionatelytoeachCommonShareholder.TheShareholder’sloansowingtoadeceasedCommonShareholderortoaControllingShareholderortheircorporationwillberepaidinpriorityinaccordancewiththeprovisionsofArticle18.04hereof.Intheabsenceofaloanagreement,theprovisionsofArticles6.01,6.03andSchedule“A”shallapplytoallsuchinitialadvances.
6.02IntheeventthatanyfinancialorganizationispreparedtoprovidefinancingorsomeotherformoffundingtotheCorporationontheconditionthatcertainShareholdersexecuteapostponementofclaim,thenallofthoseShareholderswillprovidesuchpostponementuponrequest.
6.03Shareholders’loanswillnotbearinterestunlessthereisanagreementtothecontrarybyunanimousagreementofthePartiesorasotherwiseprovidedherein.ThePartiesmaydeterminethattheShareholders’loanswillbearinterestandthattheCorporationshallgrantsecurityforsuchloans.
7.FURTHERADVANCES
7.01TheCommonShareholdersagreethatshouldtheCorporationrequirefurtherfunds,recourseforsuchfundingshallfirstbesoughtfromaconventionallendinginstitution.IftheCorporationrequiresthatfurtherfundsbeadvancedbytheCommonShareholdersthentheCommonShareholdersagreethatsuchfurtheradvanceswillbelimitedto_________($_______)dollars.IntheeventthattheCommonShareholdersdecidebySpecialResolutionthatsuchfurtherShareholderadvancesarerequired,theneachCommonShareholderagreestoproportionatelyadvancesuchadditionalfundswithintwentythree(23)BusinessDaysofthedateoftheResolution.
7.02AllsuchfurtherCommonShareholderadvancesshallbearinterestataratedeterminedbytheunanimousagreementoftheParties,failingwhichtheCommonShareholderShareholders’loanswillallbearinterestatarateequaltotheprimelendingratechargedbytheCorporation'sbankofrecordfromtimetotime.ThePartiesmayagreethattheCorporationgrantsecurityforsuchloansandthetermsofsuchsecurityshallbedeterminedatthedateoftheadvance.IfthePartiesfailtoagreeonthetermsofsuchsecurity,thennosecuritywillbegrantedforsuchfurtheradvances.
8.DISPROPORT
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