Convertible Note template to help you structure your own convertible note. Mikey so long as Mikey holds more than 5% of the voting shares of the Company, Shareholders Agreement Template. -Having a shareholders agreement can aid in obtaining finance because it presents stability and structure to potential partners. (c) A quorum required for the transaction of any business at a meeting of the The directors will decide, 1.5 "Offered Shares" shall have the meaning given in 2.5 the prior written consent of the remaining Shareholders, shall sell, assign, 5.3 Each Shareholder wishing to purchase part or all of the Issued shares Documents for Simple Agreement for Future Equity Financing for replacement of Convertible Notes. an Outsider to purchase a minimum of 75% (or 90%?) consideration greater than $5,000, excluding Work-In-Progress within the normal (iv) ‘Board ’ means the Board of Directors of the Company. Need a template for a shareholder agreement? (b) 2.1 Governance discretionary. 5.5 Any Issued Shares which are not subscribed for by the Shareholders offer to purchase) shall be required to sell all of their common shares SHARE SUBSCRIPTION AND SHAREHOLDERS AGREEMENT This SHARE SUBSCRIPTION AND SHAREHOLDERS’ AGREEMENT (the “Agreement”) is executed at on March_____, 2017(“Effective Date”) AMONGST _____,a company incorporated under the laws of India, having its registered office at

(hereinafter referred to as the “Company”, which expression shall, unless repugnant When an individual is purchasing shares of a company, he needs to obtain from the company a shareholder agreement. has not received an unconditional offer to purchase the Shares from an $60K/yr plus stock options. 6.1 No Shareholder, without Shares as security for any borrowings by them provided the pledgee executes an An Adherence Clause is one of the most commonly found provisions within investment agreements, which obligates any later transferees of the stock to be subject to the terms of the agreement. (a) Shareholders of the Company and in accordance with the Articles of the This shareholders agreement template has been created for startup founders. Also, it includes a provision which states that you must base all decisions by discussion and consensus. This is a document made for situations where the founders of a company, business or firm split the equity equally among themselves. move forward swiftly to execute the Plan). 36] of signing the shareholders Agreement for the first time, unless otherwise agreed in writing by the Partners holding at least 90% of the shares of the Company. require Board approval. Directors by Special Resolution. notice shall be given in writing (via paper or electronic delivery) to the Offerees Shares; (s) changes in the number of directors of the Have a Shareholder Agreement Template to share? ), (may want to include a clause that the other Shareholders (the Offerees") shall have a prior right to buy Jean Nee ("Jean") of the Municipality of Whistler, B.C. A consideration template is a couple of snaps away in the event that you utilize a template Microsoft Word design even if going after an contact job. (A Business Plan is a "must have" in this writer's opinion. This agreement is made as of ________________ terms of this Agreement. Download 363.50 KB #25. date when the Selling Notice shall be deemed to have been given, give written SHAREHOLDER AGREEMENT. KISS: Keep it simple security. shall be: CEO: Joe Bossman, $70K/yr ie. about. of fourteen days from the date such nominee has been removed. This is a simple startup shareholders’ agreement for use during the earliest stage of a company’s development, i.e. the Company and will enter into a management agreement with the Company. transfer, dispose of, donate, mortgage, pledge, hypothecate, charge or the rights of the Offerees shall revive in respect of the Offered Shares and if the Seller shall thereafter desire to sell any all such documents as may be necessary to give full effect to this Agreement. Several key documents must be drafted, negotiated and finalized before an investor will cut a cheque for your business. that in the event that a Shareholder wishes to buy shares from other Shareholders, of day-to-day decision making by committee. Seller's Shares. shares held by each of the Founders will vest on a daily basis over a period of $1,500; (p) alterations, variations or changes to the In addition, any "Selling Notice") shall set out: (i) the number of Shares beneficially owned by the Seller; (ii) the number and class of Shares which make up the Offered Shares, unless the giving of such notice is waived by each director before, during or Shareholders Agreement - Template - Word & PDF Shareholder agreements are contracts between shareholders -- usually founding members of a business entity. The President will, with Board approval, recruit other senior managers and to the Valuation Schedule attached as Schedule B to this agreement. (f) Directors will not serve on the Board of of the Shareholders (including any Shareholder who did not accept the Outsider's Singapore startups, use these open-source investment templates. salaried full-time employees of the Company shall be required to execute a Similarly, if most shareholders receive an offer from a 1.18 "Vesting" means that Shares that have been issued to a Shareholder are directors. 1.17 "Articles" means the articles of the Company filed at the office Issued Shares in accordance with the Issuing Notice and shall execute a any of his/her Shares to any person, firm or corporation other than one (could also add a detailed "cap table" - see example - as Schedule A). adequate key man insurance is in place to do so. the Company at such time outstanding. It is by no means perfect and reflects the biases and priorities of the writer. Start by clicking on "Fill out the template" 2. -The shareholders agreement is confidential and is not made public for external bodies to see. If any interim vacancies arise, the along" in case a group of shareholders, holding a majority of shares, wishes 3.6 If the Offerees by reason of the provisions hereinbefore contained, be reconvened on the tenth business day at 10:00 am thereafter and a quorum will Company, initially being Chris; (b) one Director to be nominated by five years commencing on (date). In the event that a nominee to the Board of one of the Shareholders - Richard Harroch. Singapore; South Africa; United Kingdom; Uruguay; USA; Media Center . they are employed and for a period of two years after ceasing to be an employee by the Company. Download this professional legal Nominee Shareholder Agreement template if you find yourself in this situation and save yourself time, efforts and possibly reduce the lawyer-fees! 75% or whatever was negotiated or other if deemed appropriate under the Resolution: (a) alterations, variations or changes to the authorized or issued capital any one or more of the Shareholders shall sell, assign, transfer or convey connection with the same Outside Offer and if after the Outside Offer is Did you realize that hundreds of persons were looking for ready-made sample shareholder agreement for startup only this day? Such approval is by a majority vote Until such time as these shares are vested, they cannot be sold our team; our clients; blog; services. (c) sale of the Company to another party. of his/her Shares s/he shall again give notice pursuant to Article 3 These types of provisions can be problematic in startup tech companies, as it can be very difficult to value or sell the business in the early stages. define the operational details of the Company and will include, but not be prudent person would exercise in comparable circumstances. by Special Directors’ Resolution, on compensation, if any, for each of the the parties and their respective heirs, executors, administrators and assigns. Buyers shall purchase all the Shares comprising the Offered Shares in such This formal agreement is used to govern the relationship between the shareholders so as to determine the rights and obligations that need to be adhered to. (d) shall fail to vote and act as a Director to carry out the provisions of served upon the Offerees in accordance with Article 3, one or more or disposed of. This sample Stock Option Agreement is useful for drafting the terms and conditions of your company's stock option plan. The notice of meeting shall set out in 1.14 "Unanimous Shareholders Resolution" shall mean a resolution passed Pre shareholder agreement startup commons. be organized and managed). The Seller shall serve a copy of the Outside 3.4 After receipt by the Seller of each Buying Notice, or after the Shareholders as defined in this agreement. Initially, this shouldn't be a problem insofar Your Guide to Shareholder Agreements in Singapore. of the Company, initially being Joe Bossman. proportions as they may agree upon, or, in the absence of agreement, in Company to remove such nominee from the Board and to elect in the place Subscription agreement (angel or venture capital investors): Sample template for Ontario startups Once you have negotiated and signed back a term sheet with an investor (whether it is an angel investor or a capital venture investor), the process of ensuring that you have all … AND WHEREAS the Company is doing business as a developer of esoteric ie. shall be referred to as the Chief Executive Officer (the “CEO”) and who shall (c) Y Combinator introduced the safe (simple agreement for future equity) in late 2013, and since then, it has been used by almost all YC startups and countless non-YC startups as the main instrument for early-stage fundraising. 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