Shareholder Agreement with Put Option | Canada

This is a Canadian legal form which can be used anywhere in Canada except Quebec.
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.
The template contains 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.
The Shareholder Agreement can serve to avoid unnecessary conflict by having the owners agree on management issues and exit strategies at the outset.

Document Type:

Microsoft Word

Last Updated: 31-January-2022

SKU: 34

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A business corporation in Canada must appoint officers to fill the roles set out in its by-laws (such as a president, secretary, treasurer, etc). It is the responsibility of the directors to appoint those individuals.
The Board of Directors pass resolutions appointing the officers for the corporation and assigning duties to each officer.
This template can be used by any Canadian or provincial corporation that was formed under a Business Corporations Act. A French language translation is required in Quebec.
This is a downloadable and easy-to-use MS Word document. You can download it immediately after purchase.

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The directors of the corporation authorize the corporation to proceed with the purchase of the land.
The decision is ratified and approved by the shareholders.
You can use these Corporate Resolutions to Approve Land Purchase for any Canadian or provincial corporation that was formed under a Business Corporations Act. A French-language version is required in Quebec.

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The directors and shareholders can pass these Resolutions in lieu of a meeting, which allows them to deal with business generally handled at an annual meeting without actually holding the meeting.
The Resolutions deal with the following items:
- election of a new board of directors;
- appointment of corporate officers;
- approval of the financial statements;
- appointment of the auditors or, alternatively, waiving the audit requirement.
Available in MS Word format. Fully customizable to meet your needs.
Intended to be used only in the Province of Ontario, Canada.

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