We recently advised our client, a specialist commercial insurance broker, in relation to an Employee buy-in and Shareholders’ Agreement, with the aim of incentivising a key member of staff and governing the relationship going forwards.
The team conducted a lengthy review of the Shareholders’ Agreement and made a number of amendments to ensure the agreement was fair to all parties involved, whilst allowing our client to maintain control as the majority shareholder. We also drafted the necessary documents to redesignate and transfer shares and complete the allotment to an existing employee.
As the re-designation involved different classes of shares, with each class having varying rights attached, we were also required to re-draft the company’s Articles of Association, to ensure these were fit for purpose in light of the new company structure.
The Corporate team at Thomson Snell & Passmore was led by Senior Associate, Faye Cook assisted by Ben Seal, Paralegal.
If you would like further information in relation to Shareholder Agreements, please contact Partner and Head of Corporate, Joanne Gallagher.