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Termination Of Shareholders Agreement

Termination Of Shareholders Agreement Template for Malaysia

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Key Requirements PROMPT example:

Termination Of Shareholders Agreement

"I need a Termination of Shareholders Agreement for a Malaysian private limited company where two founding shareholders are amicably exiting and transferring their shares to the remaining shareholder, with completion planned for March 15, 2025."

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Document background
The Termination of Shareholders Agreement is a crucial document used when parties to an existing shareholders agreement wish to formally end their relationship under Malaysian law. This document is typically required when shareholders decide to part ways, during company restructuring, following a merger or acquisition, or when a shareholder exits the business. It must comply with Malaysian corporate law, particularly the Companies Act 2016 and related regulations. The agreement includes provisions for the termination process, settlement of obligations, mutual releases, and handling of confidential information. It's essential to protect all parties' interests while ensuring a clean break in the shareholder relationship. The document should address any share transfers, outstanding financial obligations, and ongoing commitments that need to be resolved.
Suggested Sections

1. Parties: Identification of all parties to the termination agreement, including the company and all shareholders involved

2. Background: Recitals explaining the existing shareholders agreement, reason for termination, and current shareholding structure

3. Definitions: Definitions of key terms used in the agreement, including reference to defined terms in the original shareholders agreement

4. Termination: Clear statement of termination of the shareholders agreement and effective date

5. Mutual Release: Release of parties from obligations under the original agreement and mutual waiver of claims

6. Settlement of Outstanding Obligations: Settlement of any outstanding financial obligations or commitments between parties

7. Return of Property: Provisions for return of company property, documents, and other materials

8. Confidentiality: Survival of confidentiality obligations post-termination

9. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

10. Costs: Allocation of costs related to the termination agreement

11. Entire Agreement: Standard boilerplate confirming this is the entire agreement regarding termination

Optional Sections

1. Share Transfer Provisions: Include when termination involves transfer of shares between parties

2. Intellectual Property Rights: Include when there are IP rights that need to be addressed post-termination

3. Non-Compete Obligations: Include when parties wish to maintain or modify existing non-compete provisions

4. Ongoing Projects: Include when there are incomplete projects or transactions that need to be addressed

5. Tax Matters: Include when there are specific tax implications that need to be addressed

6. Director Resignations: Include when termination involves resignation of board members

7. Employee Matters: Include when termination affects employment arrangements or employee shareholders

Suggested Schedules

1. Original Shareholders Agreement: Copy of the original shareholders agreement being terminated

2. Share Certificates: Copies of relevant share certificates and transfer forms if applicable

3. Settlement Calculations: Detailed calculations of any financial settlements between parties

4. Company Resolution: Board and/or shareholder resolutions approving the termination

5. Outstanding Obligations: List of all outstanding obligations and their agreed resolution

6. Resignation Letters: Templates or copies of director resignation letters if applicable

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Manufacturing

Technology

Real Estate

Healthcare

Retail

Professional Services

Energy

Telecommunications

Construction

Agriculture

Education

Transportation

Hospitality

Relevant Teams

Legal

Corporate Secretarial

Finance

Compliance

Board of Directors

Corporate Governance

Risk Management

Shareholder Relations

Investment

Executive Management

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Chief Legal Officer

Corporate Lawyer

Legal Counsel

Chief Financial Officer

Finance Director

Board Director

Shareholder Relations Manager

Corporate Governance Officer

Investment Manager

Compliance Officer

Business Development Director

Risk Manager

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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