This template is a long form JV shareholders' agreement for corporates providing for deadlocks
This document is an agreement between corporate shareholders of a UK company, outlining various provisions and procedures related to the management and operation of the company. It covers topics such as deadlock resolution, sale and purchase of shares, restrictive covenants, data protection, and confidentiality. The agreement defines a deadlock as a situation where a resolution proposed at a board or general meeting fails to achieve a quorum or necessary approval. In the event of a deadlock, the shareholders have the option to refer the matter to their respective chief executive officers for resolution. If the deadlock is not resolved within a specified timeframe, either shareholder has the right to serve a deadlock resolution notice, offering to either sell or purchase all of the other shareholder's shares at a specified price. The document also includes provisions regarding the completion of share transfers, compliance with the company's articles, and the protection of confidential information.
It is important to note that this document is a template and should be customised to fit the specific needs and circumstances of the parties- for more information please read our Templates Guide.
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Note: This publication does not necessarily deal with every important topic, nor cover every aspect of the topics with which it deals. Templates do not include or provide legal or other advice to users. They are designed to provide a head-start to the development of a commercial agreement and are not the finished article. They require careful reading, analysis and customisation in order to meet the particular needs of the parties to the document.
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