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Family Business Shareholders Agreement

Family Business Shareholders Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Family Business Shareholders Agreement

"Need a Family Business Shareholders Agreement for our third-generation retail business with 5 family branches and 2 non-family minority shareholders, incorporating provisions for our planned expansion into Saudi Arabia by March 2025 and establishing a formal Family Council structure."

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Document background
The Family Business Shareholders Agreement is a crucial document for UAE family businesses, particularly in light of Federal Decree-Law No. 37 of 2022, which specifically addresses family business governance. This agreement is essential when transitioning from informal family arrangements to structured governance systems, or when preparing for generational succession. It combines standard shareholder provisions with family-specific considerations, addressing unique challenges such as family member employment, succession planning, and maintaining family values while ensuring business continuity. The document is particularly relevant for UAE family businesses looking to professionalize their operations, protect family interests, and establish clear governance structures that will sustain across generations.
Suggested Sections

1. Parties: Identifies all family member shareholders and any other shareholders, including their full legal names and addresses

2. Background: Sets out the history of the family business, current ownership structure, and purpose of the agreement

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Family Business Values and Vision: States the core family values, business vision, and long-term objectives

5. Share Ownership and Capital Structure: Details the current shareholding structure and classes of shares

6. Management and Governance: Outlines the management structure, board composition, and decision-making processes

7. Family Council: Establishes the Family Council structure, membership, roles, and responsibilities

8. Share Transfer Restrictions: Details restrictions on share transfers, including right of first refusal and tag-along/drag-along rights

9. Succession Planning: Outlines succession planning principles and procedures for both ownership and management

10. Dividend Policy: Sets out the policy for profit distribution and dividend payments

11. Dispute Resolution: Details the process for resolving disputes between family members and shareholders

12. Exit Mechanisms: Specifies procedures for shareholder exit, including share valuation methods

13. Confidentiality: Defines confidentiality obligations regarding family and business information

14. General Provisions: Contains standard boilerplate clauses including governing law, notices, and amendments

Optional Sections

1. Employment of Family Members: Used when there's a need to establish specific policies for family member employment in the business

2. Family Office: Include when the family business requires a separate entity to manage family wealth and investments

3. Corporate Social Responsibility: Added when the family wishes to formalize their commitment to social causes and community engagement

4. International Operations: Include when the family business has or plans to have significant international operations

5. Intellectual Property Rights: Required when the family business has significant IP assets to protect

6. Family Education and Development: Include when establishing formal programs for next-generation development

7. Shariah Compliance: Added when the family business needs to ensure compliance with Islamic principles

8. Non-Family Shareholders Rights: Include when there are or may be significant non-family shareholders

Suggested Schedules

1. Schedule 1 - Current Shareholding Structure: Detailed breakdown of current share ownership and share classes

2. Schedule 2 - Family Council Charter: Detailed rules and procedures governing the Family Council

3. Schedule 3 - Reserved Matters: List of decisions requiring special majority or family council approval

4. Schedule 4 - Share Valuation Methodology: Detailed methodology for valuing shares in transfer or exit scenarios

5. Schedule 5 - Family Employment Policy: Detailed criteria and procedures for family member employment

6. Schedule 6 - Dividend Policy Details: Specific formulas and procedures for dividend calculations and distributions

7. Appendix A - Family Business Constitution: The overarching family business principles and values document

8. Appendix B - Family Member Contact Details: Current contact information for all family members

9. Appendix C - Corporate Structure Chart: Diagram showing the corporate structure and relationships between entities

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



























































Clauses












































Relevant Industries

Real Estate & Construction

Retail & Consumer Goods

Trading & Import/Export

Manufacturing & Industrial

Hospitality & Tourism

Healthcare Services

Financial Services

Automotive

Food & Beverage

Technology & Communications

Professional Services

Education

Relevant Teams

Legal

Corporate Governance

Board Secretariat

Family Office

Executive Management

Compliance

Risk Management

Strategy

Finance

Company Secretarial

Relevant Roles

CEO/Managing Director

Family Office Director

Board Chairman

Chief Legal Officer

Corporate Governance Officer

Family Council Chairman

Succession Planning Director

Chief Financial Officer

Head of Strategy

Family Business Advisor

Company Secretary

Compliance Officer

General Counsel

Risk Management Director

Family Member Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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