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This four-party Shareholders' Agreement is designed to regulate the relations between the parties who have agreed to form a jointly-owned company (the Company). The agreement outlines the establishment and operations of the Company, as well as the rights and responsibilities of the shareholders. It includes standard clauses for minority protection, and is drafted in favor of the Minority Shareholder.
The parties will cause the Company to be incorporated as a company limited by shares with certain characteristics, such as the name, Memorandum and Articles of Association, authorized share capital, registered office, and auditors. The authorized share capital will be divided equally between the parties.
Completion of the agreement will take place once the conditions precedent are fulfilled or waived, and the parties will subscribe unconditionally for their respective shares in cash, pay for the shares in cleared funds, have their names entered in the Company's register of members, and receive share certificates.
This shareholders' agreement is crucial for the effective operation and management of the joint venture company, and should be carefully read and understood by all parties involved. The agreement is binding on all parties, and any future amendments must be agreed upon by all parties and recorded in writing.
To effectively use the 4-party Shareholders' Agreement, it is important to follow these steps:
1. Carefully Read: Before entering into the agreement, all parties involved should take the time to carefully read through the entire document. Understanding the terms and conditions set forth in the agreement is crucial for all parties to be on the same page.
2. Signature: All four parties should sign and return a copy of the agreement. Once signed, all parties should receive a copy for their records.
3. Witnessing Signatures: To avoid future disputes, it is recommended that the signatures of all parties be witnessed by an impartial third party. This will provide evidence that all parties fully understand the agreement and have voluntarily entered into it.
4. Amendments: If at any time, any of the parties wish to amend the agreement, all parties must agree to the changes and the original agreement and amendments must be recorded in writing and signed by all parties. This ensures that all changes are properly documented and agreed upon by all parties involved.
By following these steps, the 4-party Shareholders' Agreement can be effectively used to govern the relations between the shareholders in the Joint Venture Company. The agreement provides a clear outline of the responsibilities, obligations and rights of each party, protecting the interests of all shareholders and setting the foundation for a successful business partnership.