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Amended And Restated Shareholders Agreement for the United Kingdom

Amended And Restated Shareholders Agreement Template for United States

An Amended and Restated Shareholders Agreement is a legal document used in the United States that supersedes and replaces an existing shareholders agreement while incorporating new terms and conditions. It consolidates all previous amendments and new changes into a single, comprehensive document that governs the relationships between shareholders, their rights and obligations, and the management of the company. This agreement typically includes provisions for share transfers, voting rights, board composition, and various protective mechanisms for both majority and minority shareholders, all while complying with applicable U.S. federal and state corporate laws.

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What is a Amended And Restated Shareholders Agreement?

An Amended And Restated Shareholders Agreement becomes necessary when significant changes to an existing shareholders agreement are required, often due to new investment rounds, changes in ownership structure, or evolving business needs. This document, commonly used in U.S. business practice, serves to streamline and clarify the rights and obligations of all shareholders by incorporating previous amendments and new changes into a single, comprehensive agreement. Rather than having multiple amendments that need to be read together, this approach provides clarity and reduces the potential for conflicting interpretations. The agreement typically addresses key aspects such as share transfer restrictions, voting rights, board representation, and various protective provisions for shareholders, while ensuring compliance with both federal securities laws and state corporate regulations.

What sections should be included in a Amended And Restated Shareholders Agreement?

1. Parties: Identification of all shareholders and the company

2. Background/Recitals: Context of the amendment and restatement, including reference to original agreement

3. Definitions: Key terms used throughout the agreement

4. Share Ownership and Capital Structure: Current ownership details and classes of shares

5. Transfer Restrictions: Limitations on transfer of shares

6. Voting Rights: Shareholder voting procedures and rights

7. Board Composition: Structure and appointment of board members

8. Reserved Matters: Actions requiring special approval

What sections are optional to include in a Amended And Restated Shareholders Agreement?

1. Tag-Along Rights: Rights of minority shareholders to join in sale of shares when a majority shareholder sells their stake

2. Drag-Along Rights: Rights of majority shareholders to force minority shareholders to join in the sale of the company

3. Anti-Dilution Protection: Provisions protecting shareholders from dilution of their ownership percentage in future funding rounds

4. Registration Rights: Rights of shareholders to require the company to register their shares for public trading

What schedules should be included in a Amended And Restated Shareholders Agreement?

1. Schedule 1 - Current Share Capital: Detailed breakdown of current share ownership and share classes

2. Schedule 2 - Reserved Matters List: Comprehensive list of matters requiring special shareholder approval

3. Schedule 3 - Form of Deed of Adherence: Template document for new shareholders to sign when joining the agreement

4. Schedule 4 - Competing Business List: List of identified competing businesses for non-compete provisions

5. Schedule 5 - Original Agreement: Copy of the original shareholders agreement being amended and restated

Authors

Alex Denne

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

Jurisdiction

United States

Publisher

Ƶ

Document Type

Amendment Agreement

Sector

Personal

Cost

Free to use
Clauses































Industries

Securities Act of 1933: Federal law that regulates the offering and sale of securities, requiring registration and disclosure of financial information unless an exemption applies.

Securities Exchange Act of 1934: Federal law governing secondary market trading of securities, establishing the SEC, and mandating periodic reporting requirements.

Sarbanes-Oxley Act 2002: Federal law enhancing corporate responsibility and financial disclosures, primarily applicable to public companies.

Internal Revenue Code: Federal tax legislation affecting the tax treatment of corporate structures, stock transfers, and shareholder distributions.

State Corporation Laws: State-specific laws governing corporate formation, operation, and governance (e.g., Delaware General Corporation Law).

Blue Sky Laws: State-level securities laws regulating the offering and sale of securities to protect investors from fraudulent activities.

State Contract Laws: State-specific laws governing contract formation, enforcement, and interpretation.

SEC Regulations: Federal regulatory framework implementing securities laws, including disclosure requirements and trading rules.

Stock Exchange Rules: Rules and regulations imposed by stock exchanges (e.g., NYSE, NASDAQ) on listed companies.

FINRA Regulations: Rules governing broker-dealers and securities industry professionals.

Corporate Governance Requirements: Rules and principles defining the rights and responsibilities of company management, board, and shareholders.

Fiduciary Duties: Legal obligations of directors and officers to act in the best interests of the company and its shareholders.

Shareholder Rights: Legal provisions governing voting procedures, meetings, and other fundamental shareholder privileges.

Transfer Restrictions: Limitations on the ability to transfer shares, including right of first refusal and other restrictive provisions.

Preemptive Rights: Rights of existing shareholders to maintain their proportional ownership by participating in new share issuances.

Tag-Along and Drag-Along Rights: Provisions allowing minority shareholders to join in (tag-along) or requiring them to join in (drag-along) a sale of the company.

Anti-Dilution Provisions: Protections for shareholders against dilution of their ownership percentage in future financing rounds.

Information Rights: Shareholder rights to receive financial and other company information, including inspection rights.

Registration Rights: Rights of shareholders to require the company to register their shares for public trading.

Buy-Sell Provisions: Terms governing the purchase and sale of shares between shareholders or back to the company under specific circumstances.

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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