A shareholders agreement is a contract negotiated by the shareholders of a company outside the Corporations Act to govern their relationship and business arrangements, detail their rights, responsibilities, obligations and liabilities, and protect their interests — with regard to their particular circumstances. It regulates matters not covered by a company’s constitution and is therefore supplementary to a company’s constitution.

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About this Document

The LVDox™ Free Shareholders Agreement allows you to ensure that the relationship between the company’s shareholders is documented in a basic manner.

Important terms covered in this document include:

  • operation of the business;
  • directors of the board and board meetings;
  • duties of directors and general meetings;
  • dividends, restrictions on parties and events of default;
  • first right of refusal and drag along; and
  • insurance, loan accounts and confidentiality.

The LVDox™ Free Shareholders Agreement is only suitable for very simple companies.

The following clauses can be customised by one of our lawyers to your specific needs:

  • good leaver/ bad leaver provisions;
  • setting out how critical business decisions will be made;
  • a structure ensuring subsequent shareholders can accede to the shareholders agreement by deed of accession;
  • a structure allowing the company to be independently valued in the event of a shareholder dispute;
  • a shareholder vesting structure;
  • a clause which sets out how intellectual property developed by directors, key personnel and shareholders should be managed;
  • drag along and tag along to be customised for the business’s needs;
  • division of power between shareholders and directors;
  • balance of power between majority and minority shareholders;
  • protecting minority shareholders so they are comfortable to invest;
  • Setting out how working capital and loans will be managed;
  • Setting out how shareholders can sell their shares; and
  • Protecting the company with comprehensive dispute resolution and non-compete provisions.

Pro Document Benefits

You can choose to upgrade your LVDox to a LVDox Pro document. Upgrading your legal document has the following benefits:

  • Consultation with a lawyer specialising in your industry
  • Review of the legal requirements for your business
  • Drafted specifically for your business and industry
  • Document reviewed and signed off by a lawyer
  • Covered by LegalVision’s professional indemnity insurance
  • We provide a fixed-fee service so there are no surprises

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