Products tagged with 'shareholder buy-sell agreement'

Shareholder Buy-Sell Agreement - Hybrid Method | Canada

This type of buy-sell agreement is known as a 'hybrid' buy-sell.
Under this Agreement, the corporation holds life insurance policies on each of the shareholders.
Upon a shareholder's death, the corporation will collect the insurance proceeds, and use the proceeds to fund the purchase of the deceased shareholder's shares by any of the surviving shareholders who are interested, on a pro rata basis (proportional to their existing shareholdings).
Any unpurchased shares will be redeemed by the corporation.
The corporation will make an election for a deemed dividend to be paid from the capital dividend account if possible.
The Agreement is governed by Canadian income tax laws.
This legal contract form is available in MS word format and is fully editable.

$29.99

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What would happen to your business if one of the owners dies or is no longer able to work? A Shareholder Buy-Sell Agreement provides for continuity of the business in those events.
Topics included in the Checklist are:
- qualification of shares for capital gains exemption;
- provisions of any existing formal shareholder agreement;
- terms of purchase or redemption (or both) of a deceased shareholder's shares using proceeds of life insurance policies on the life of the deceased;
- whether life insurance policies will be held by the corporation, by the other shareholders or by a trustee.
This is a fully editable legal form in MS Word format which can be customized to fit your circumstances.
Governed by Canadian tax laws and ntended to be used only in Canada.

$12.49

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The Agreement clarifies the procedure the corporation must follow for repurchasing or redeeming a departing or deceased shareholder's stock holdings.
Payment is secured by a promissory note and may be made over time.
The corporation may not declare or pay dividends, reorganize, merge, consolidate, sell any of its material assets, or increase the salary of any key employee or officer while any portion of the redemption price remains unpaid.
The departing shareholder must resign as a director and/or officer upon closing of the share purchase.
This template is available as a MS Word download and is fully editable to fit your specific circumstances.
Intended to be used by companies incorporated in the United States.

$12.49

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The Agreement includes:
- a procedure for soliciting offers from third parties;
- the remaining shareholders have right of first refusal to purchase shares of a departing shareholder;
- the remaining shareholders have the right to piggyback the sale of their shares onto a proposed sale of more than 50% of the shares;
- a mandatory (shotgun) buy-sell;
- a mandatory buyout on death, to be funded by proceeds of a life insurance policy on the life of the deceased shareholder.
This template is available in MS word format and is easy to customize to fit your circumstances.
Intended to be used only in the Province of Ontario, Canada.

$29.99

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