When considering termination of an executive employee who has an employment or
stockholder agreement, the company must consider the terms of those contracts.
Prior to commencing negotiations with Alon Israel, Delek US entered into a
stockholder agreement with Alon USA.
In connection with the investment, Atairos has entered into a
stockholder agreement with TriNet, pursuant to which, among other things, Michael Angelakis, chairman and chief executive officer of Atairos, will join TriNet's board of directors, increasing the total number of TriNet directors to ten.
(NASDAQ: HEAR) said it has announced that a group of institutional investors purchased a combined 371,520 shares of common stock from Fred Romano and Carmine Bonanno, co-founders of Turtle Beach, in accordance with the terms of the company's amended
stockholder agreement.
Discuss the issues with your partners, create a new or improved buy-sell agreement, a
stockholder agreement, or enact changes in other ways such as modifications to your bylaws.
With the sale, Coutu has reduced its number of Rite Aid board members from three to two, as stipulated in the
stockholder agreement between the two chains.
Under the terms of BlackRock's
stockholder agreement with Merrill Lynch, Merrill may designate two directors to BlackRock's board, which has 16 members, ten of whom are independent and not affiliated with the company.
This problem can be eliminated (or at least mitigated) with a well-drafted
stockholder agreement.
The
stockholder agreement expired on 14 May 2016, and Delek US will then have no further restrictions under this agreement related to increasing ownership in Alon USA.
Scott to its board of directors pursuant to a
stockholder agreement and equity transaction agreement with Ares.
Namely, the state statutes under which the business operates; the company's organizational documents, i.e., the company bylaws and any
stockholder agreement that might be in place; the distribution of equity ownership of the company, etc.
For most of August Rite Aid and Coutu executives and their respective financial and legal advisers hammered out the details of the proposed deal's stock purchase agreement, its
stockholder agreement and its registration rights agreement.
