It is important that the company has a formal process for organizing board meetings, how they can be called and the percentage of shareholders (on a participation basis) needed to create a quorum. This does not mean that the spouse has waived his rights to the value of the shares, as guaranteed by the provisions of the compensation under the Family Act. The key lies in the fact that the shareholders` pact protects the company, shareholders and creditors, while enforcing provisions guaranteeing the rights of spouses under the Family Act. Minority shareholders have the right to be redeemed on a pro-rata basis and with the majority shareholder. It is worth thinking about and documenting in the shareholders` pact: a shareholder may refuse to sell his shares even if other shareholders consider the sale a good deal. This risk can be eliminated by a shareholder pact. In our experience, problems can be avoided if there is a shareholders` pact with a dispute settlement clause. The requirement could be this: a shareholder pact can be an effective way to define the details of a company`s business. A well-developed shareholder pact can be clear to shareholders on issues such as the role each will play in the business, how profits and costs will be shared, disputes resolved and the estate rights of a deceased shareholder and remaining shareholders in the event of death or obstruction. Normally, the company will participate in a shareholders` pact with shareholders, as it usually contains provisions imposing obligations between each shareholder and the company, as well as between the shareholders themselves.
For example, confidentiality and non-competition obligations, corporate share repurchase obligations in the event of a shareholder`s death or obstruction, etc. If the shares of an operating company are held by other holding companies, you can also add the adjudicating entities of the holding companies as parties to the shareholder contract.