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Unanimous shareholder agreement (USA)

A shareholder agreement with real teeth

A specific type of shareholder agreement, recognized under Canadian corporate law, in which all shareholders agree to restrict or remove some of the board of directors' powers and shift them to the shareholders directly. Because it binds every shareholder (including future ones who buy in), it needs unanimous consent to create or amend.

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Related terms
Employee Stock Option Plan (ESOP)The pool of equity set aside for employeesFounders' lock-up agreementKeeps founders committed post-closeRight of first refusal and co-sale agreementControls who can buy into the company

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