The Shareholder Resignation Agreement is essential when a shareholder wishes to exit their investment in a Singapore company. This document is particularly important as it provides a clear framework for the resignation process, addressing share valuation, transfer mechanisms, and ongoing obligations. It ensures compliance with Singapore corporate law while protecting both the departing shareholder's and the company's interests. The agreement typically includes provisions for share transfer, confidentiality, non-compete clauses if applicable, and mutual releases from future claims.
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1. Parties: Identification of the resigning shareholder and the company
2. Background: Context of shareholding and reason for resignation
3. Definitions: Key terms used throughout the agreement
4. Resignation Details: Effective date and scope of resignation
5. Share Transfer Terms: Details of share transfer process and consideration
6. Mutual Release: Release of obligations between parties
7. Governing Law: Specification of Singapore law as governing law
1. Non-Compete Clause: Restrictions on competition post-resignation, used when protecting company interests is crucial
2. Outstanding Obligations: Settlement of loans or other obligations, included when there are existing financial obligations to be addressed
3. Confidentiality: Ongoing confidentiality obligations, included when sensitive information has been accessed
4. Transition Arrangements: Handover of responsibilities, included when shareholder held management position
1. Schedule 1 - Share Certificate Details: Details of shares being transferred including certificate numbers and shareholding amounts
2. Schedule 2 - Valuation Report: Independent valuation of shares (if applicable)
3. Schedule 3 - Outstanding Loans Schedule: List of any outstanding loans or obligations between the parties
4. Schedule 4 - Corporate Approvals: Copies of relevant board/shareholder resolutions authorizing the resignation and share transfer
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