Establish the rights and obligations of the shareholders of a corporation with respect to the corporation and to each other, and set out any restrictions on share transfers or the issue of new shares, with a Shareholder Agreement. This template is for Canada, and includes the following provisions:

• Right of first refusal provisions for the remaining shareholders to acquire the shares of a departing shareholder, before they can be offered to a third party.
  
• A departing shareholder also has a buy-sell or "put" option, which would require the remaining shareholders to purchase his/her shares. The put option is available only after the departing shareholder has been unsuccessful in finding a third party purchaser for a period of 6 months.
  
• Contains buy-sell options for both an assured buy-out and a mandatory or "shotgun" buy-sell.
  
• On the death of shareholder, the surviving shareholders have the option to buy the deceased shareholder's shares, failing which they must be purchased by the corporation.

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ON Unanimous Shareholder Agreement with special majority rights

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