Free Shareholder Agreement Template South Africa

c) The company employs the shareholders and pays the salaries to those shareholders as follows: it is paid immediately after receipt of the proceeds of insurance on the life of a deceased shareholder, owned and payable to the company, up to that revenue. 1. When a business is managed through a company, in this case, there are usually two or more shareholders, all of whom are active in the company, who wish to have a say in management, by being on the board of directors and having to be protected from certain decisions taken by a majority. B, for example changes in business, sale of business, declaration of dividends, collateral of assets, change in the structure of the company, guarantees, etc.; PandaTip: The distribution or resale of shares outside may be accompanied by a large number of legal provisions that this agreement does not seek to address, which is why this clause is important. 10.1. Shareholders have the power to declare dividends or other payments to shareholders. b) The company`s senior executives are the following shareholders, each remaining in service as long as it holds shares: 4.3. Shareholders take the necessary steps to amend the memorandum and the company`s by-law so that they are in accordance with the provisions of this agreement. 7. (a) Where, under this agreement, the shares of the shareholders are acquired or retired, that shareholder or the legal representative of that shareholder executes all necessary documents that may reasonably be necessary to make a full transfer of those shares for the purpose of the purchase transaction. any licence or certification required for business or disability behaviour lasting more than six (6) months; or (ii) if a shareholder is found to be incompetent or a general guardian or guardian of his estate is appointed by a court; or (iii) when a shareholder makes an assignment to creditors, requests the appointment of a director, liquidator or liquidator or proceedings concerning himself in connection with a bankruptcy or similar legal agreement; either when such an application is made or proceedings are initiated against the shareholder and the shareholder consents or a decision is taken authorizing such notification and remains in effect for sixty (60) days; or (iv) where it is alleged that a shareholder`s shares are transferred involuntarily, including, but not exclusively, to any alleged transfer by bankruptcy, seizure, divorce, fair distribution or application of the law; or (v) when a shareholder dies.

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