Assumption Agreement To Be Bound By Shareholders Agreement

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This Assumption Agreement to be Bound by Shareholders Agreement binds a new shareholder to an existing shareholders agreement. It is imperative that this agreement be clearly set forth in writing.

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This Assumption Agreement sets forth that any shareholder who assumes the shares of another agrees to be bound by an existing shareholders agreement. This agreement sets out the name of the corporation, all shareholders bound by the agreement and date of the existing shareholders agreement. It also specifically sets out that the transferee has received a copy of the shareholders agreement and agrees to abide by the covenants therein. A written Assumption Agreement to be Bound by Shareholders Agreement will prove invaluable in the event of disagreements, misunderstandings or litigation surrounding the transfer of the shares.

This Assumption Agreement to be Bound by Shareholders Agreement contains:
  • Corporation: Name of the corporation who issued the shares;
  • Agreement Information: Sets out all shareholders bound by the Shareholders Agreement and the date of that agreement;
  • Transfer: Name of shareholder who is transferring the shares, number of shares and the name of the person to whom shares are transferred;
  • Covenants: Sets forth the covenants which the new shareholder agrees, including the fact that the shares are purchased for its own account and not for another;
  • Signatures: New shareholder must sign this agreement in the presence of a witness.

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This attorney-prepared packet contains:
  1. General Instructions
  2. Assumption Agreement to be Bound by Shareholders Agreement
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28500
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.

Customer Reviews

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Reviews: 1


Palm Desert,

CA

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I would have appreciated an addendum of alternate / optional clauses but I found that the agreement itself was very thorough and well laid out. The instructions were very clear. I got what I expected in a very professional form.


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