AI Generated American Shareholders' Agreement

Shareholders' Agreement

1. Definitions and Interpretation

Sets out defined terms and interpretation rules that govern how words, phrases, schedules, and exhibits are to be read throughout the agreement.

2. Recitals

Explains the background, purpose, and intent of the shareholders in entering into the agreement.

3. Parties

Identifies each shareholder and the company, including legal names, addresses, and relevant registration details.

4. Purpose and Business of the Company

Describes the company’s principal business activities and the objectives agreed upon by the shareholders.

5. Share Capital Structure

Details the classes of shares, par value, voting rights, and current capitalization table.

6. Issuance of Additional Shares

Specifies the conditions, approvals, and procedures for issuing any new equity securities.

7. Capital Contributions and Funding

Sets out initial and future funding obligations of shareholders, including cash, property, or services.

8. Pre-Emptive Rights

Grants existing shareholders the right to purchase new securities pro rata before they are offered to third parties.

9. Anti-Dilution Protection

Provides adjustments or protections to maintain ownership percentages in specified financing scenarios.

10. Share Certificates and Register

Outlines issuance, replacement, and maintenance of share certificates and the shareholder register.

11. Share Transfer Restrictions

Establishes general prohibitions and conditions applicable to the transfer of shares.

12. Right of First Refusal (ROFR)

Gives the company or other shareholders the right to purchase shares being sold by a shareholder before they may be transferred to outsiders.

13. Tag-Along Rights

Allows minority shareholders to join (tag along) a sale of shares by majority holders on the same terms and conditions.

14. Drag-Along Rights

Permits majority shareholders to compel minority holders to sell their shares in certain exit transactions.

15. Buy-Sell Provisions

Sets mechanisms (shot-gun, put-call, or other) enabling shareholders to force a sale or purchase of shares under specified circumstances.

16. Call and Put Options

Defines optional rights allowing one party to require another to buy or sell shares at a predetermined price or formula.

17. Founders’ Vesting

Describes vesting schedules and forfeiture conditions for founders’ shares to incentivize continued involvement.

18. Lock-Up Periods

Restricts shareholders from selling or transferring shares for a specified period after issuance or an IPO.

19. Employee Equity Incentive Plans

Addresses creation and administration of stock option, RSU, or other employee equity plans.

20. Management and Board of Directors

Sets board size, composition, qualifications, observer rights, and authority of the board.

21. Appointment and Removal of Directors

Specifies nomination rights, voting thresholds, and procedures for appointing or removing directors.

22. Board Meetings and Procedures

Covers frequency, notice, quorum, voting requirements, and minutes for board meetings.

23. Shareholder Meetings

Details annual and special meeting procedures, notice periods, quorum, and voting arrangements for shareholders.

24. Reserved Matters / Protective Provisions

Lists key actions that require super-majority or unanimous shareholder approval before implementation.

25. Business Plan and Budget Approval

Describes preparation, submission, and approval of annual business plans and operating budgets.

26. Information and Inspection Rights

Grants shareholders rights to financial reports, management accounts, and access to company records.

27. Financial Statements, Accounts and Audit

Sets accounting standards, fiscal year, audit requirements, and timing for delivery of financial statements.

28. Dividend Policy

Defines when and how dividends may be declared and distributed.

29. Bank Accounts and Signatories

Designates authorized signatories and outlines procedures for opening and operating company bank accounts.

30. Financial Covenants

Imposes ratios or thresholds the company must maintain regarding debt, liquidity, or other financial metrics.

31. Insurance

Requires the company to obtain and maintain specified insurance policies, including D&O coverage.

32. Indemnification

Provides indemnity protection for directors, officers, and shareholders against specified liabilities.

33. Representations and Warranties

Each party makes statements of fact and assurances on which the others rely.

34. Conditions Precedent

Lists actions or events that must occur before the agreement becomes fully effective.

35. Covenants of the Shareholders

Specifies ongoing promises each shareholder makes regarding conduct and cooperation.

36. Confidentiality

Obligates parties to keep proprietary information and deal terms confidential.

37. Non-Compete

Restricts shareholders from engaging in competing businesses for a defined period and territory.

38. Non-Solicitation

Prevents shareholders from soliciting the company’s customers, suppliers, or employees.

39. Intellectual Property

Addresses ownership, assignment, and protection of IP created or used by the company.

40. Compliance with Laws and Regulations

Requires adherence to federal, state, and local laws, including licensing, environmental, and employment laws.

41. Securities Law Compliance

Ensures all share issuances and transfers comply with applicable U.S. federal and state securities laws.

42. Tax Matters

Covers allocation of tax responsibilities, elections (e.g., Subchapter S), and cooperation in tax filings.

43. Deadlock Resolution

Provides mechanisms (mediation, arbitration, Russian roulette, etc.) to resolve shareholder or board deadlocks.

44. Dispute Resolution

Establishes procedures for negotiation, mediation, arbitration, or litigation of disputes under the agreement.

45. Governing Law and Jurisdiction

Specifies the U.S. state law that governs the agreement and the courts or arbitral forum with jurisdiction.

46. Term and Termination

States the duration of the agreement and the conditions under which it may be terminated.

47. Exit Strategy

Defines plans for IPO, sale, merger, or other liquidity events, including procedures and consents required.

48. Valuation Mechanism

Sets formulas or processes for determining share value in transfers, buy-outs, or exits.

49. Entire Agreement

Confirms that the agreement constitutes the complete understanding, superseding prior agreements or discussions.

50. Amendments and Waivers

Details how the agreement can be modified and the consent thresholds for waiving provisions.

51. Notices

Specifies how communications under the agreement must be given and when they are deemed received.

52. Assignment

Restricts or permits transfer of rights and obligations under the agreement to third parties.

53. Further Assurances

Obliges parties to execute additional documents or actions necessary to carry out the agreement’s intent.

54. Counterparts

Allows the agreement to be executed in multiple counterparts, each of which is deemed an original.

55. Severability

Provides that unenforceable provisions will be modified or severed without affecting the remainder of the agreement.

56. Survival

Identifies provisions that continue in effect after termination or expiration of the agreement.

57. Force Majeure

Excuses performance for events beyond the reasonable control of the affected party (e.g., natural disasters).

58. Costs and Expenses

Allocates responsibility for legal fees, filing fees, and other expenses related to the agreement.

59. Successors and Assigns

Binds and benefits the parties’ legal successors and permitted assigns.

60. Rules of Construction

Provides interpretative rules such as gender neutrality, headings, and currency references.

61. Time of the Essence

States that time-related obligations must be performed strictly within the periods specified.

62. No Partnership or Agency

Clarifies that nothing in the agreement creates a partnership, joint venture, or agency relationship among the parties beyond shareholding.

63. Public Announcements

Regulates press releases and other public disclosures regarding the agreement or the company.

64. Signatures

The execution blocks where each party signs, dating and attesting to their agreement to be bound.

Harness the power of AI to effortlessly generate compliant Shareholders' Agreements tailored for U.S. business needs.

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什么是 Shareholders' Agreement?

A Shareholders' Agreement is a vital legal document that outlines the rights, responsibilities, and obligations of shareholders within a corporation. It serves to clarify how the company will be run, establishes rules for the management of the business, and outlines how important decisions affecting the company are made. In the United States, these agreements are essential for defining the relationship between shareholders to ensure smooth governance, protect minority shareholders, and mitigate potential disputes. Our platform utilizes advanced AI technology to create customized Shareholders' Agreements that adhere to American legal standards, ensuring your business operates efficiently and compliantly.