The Partnership Shareholder Agreement is essential for businesses operating in Canada where individuals or entities act as both partners and shareholders in a corporation. This hybrid agreement is particularly valuable for professional corporations, family businesses, and closely-held companies where owners take an active role in management. It combines the flexibility of a partnership with the structural benefits of a corporation, addressing both federal and provincial regulatory requirements. The document typically comes into play during business formation, restructuring, or when new partners join an existing business. It covers crucial aspects such as ownership rights, management responsibilities, profit distribution, share transfer restrictions, and exit strategies, while ensuring compliance with Canadian corporate and partnership laws.
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1. Parties: Identification of all partners/shareholders and the corporation
2. Background: Context of the agreement, including business purpose and existing relationships
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Details of partnership arrangement, roles, and responsibilities
5. Share Ownership: Initial share distribution and shareholding structure
6. Management and Decision Making: Governance structure, voting rights, and decision-making processes
7. Capital Contributions: Initial and ongoing capital requirements and processes
8. Profit Distribution: Methods and timing of profit sharing and dividend payments
9. Transfer of Shares: Rules and restrictions on share transfers, including right of first refusal
10. Exit Provisions: Procedures for partner/shareholder exit, including buyout terms
11. Dispute Resolution: Process for resolving conflicts between partners/shareholders
12. Confidentiality: Protection of business and partnership confidential information
13. Term and Termination: Duration of agreement and circumstances for termination
14. General Provisions: Standard legal clauses including governing law and amendments
1. Tag-Along Rights: Protection for minority shareholders when majority sells their shares
2. Drag-Along Rights: Ability of majority shareholders to force minority to join in sale
3. Non-Competition: Restrictions on partners competing with the business
4. Intellectual Property Rights: Ownership and management of IP created by partners
5. Insurance Requirements: Mandatory insurance coverage for business and key persons
6. Family Members Involvement: Rules regarding involvement of family members in business
7. International Operations: Provisions for international business activities
8. Environmental Compliance: Environmental responsibilities and commitments
1. Schedule A - Share Capital: Detailed breakdown of share classes and ownership
2. Schedule B - Initial Capital Contributions: List of partners' initial investments
3. Schedule C - Valuation Method: Agreed methodology for business valuation
4. Schedule D - Business Plan: Initial business plan and strategic objectives
5. Schedule E - Management Structure: Detailed organizational chart and responsibilities
6. Schedule F - Partner Contact Information: Contact details and notice requirements
7. Appendix 1 - Deed of Adherence: Template for new partners joining the agreement
8. Appendix 2 - Share Transfer Form: Standard form for share transfers
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Consulting
Technology
Manufacturing
Retail
Healthcare
Real Estate
Construction
Financial Services
Agriculture
Media and Entertainment
Education and Training
Relevant Teams
Legal
Corporate Affairs
Executive Leadership
Finance
Governance
Compliance
Board of Directors
Corporate Secretariat
Business Development
Risk Management
Relevant Roles
CEO
Managing Partner
Business Owner
Corporate Lawyer
Legal Counsel
Chief Legal Officer
Company Secretary
Chief Financial Officer
Managing Director
Board Member
Partner
Shareholder
Business Development Director
Corporate Governance Officer
Chief Operating Officer
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