Set out in writing how the shares of a departing (or deceased) shareholder in a BC company will be dealt with in this Shareholder Buy-Sell Agreement
The Buy-Sell Agreement is for a corporation with two equal shareholders. Provisions of the Agreement include:
- mandatory (shotgun) buy-sell notice from a departing shareholder to the remaining shareholder;
- mandatory buy-sell provision upon the death of a shareholder, whereby the surviving shareholder must purchase the interest of the deceased shareholder;
- each shareholder holds life insurance policies on the other shareholder, and the proceeds may be applied to the purchase of the deceased's shares by the survivor.
This British Columbia Shareholder Buy-Sell Agreement
template is available as a Microsoft Word form, and is fully editable.