shareholders' agreement

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shareholders' agreement

n. an employment agreement among the shareholders of a small corporation permitting a shareholder to take a management position with the corporation without any claim of conflict of interest or self-dealing against the shareholder/manager. Such agreements are common when there are only three or four shareholders.

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References in periodicals archive ?
But fiduciary duty is more consistent with the need to work out the evolving terms of the stockholder contract on an ongoing basis.