A shareholder proxy agreement is a legal document that allows a shareholder to appoint a representative to vote on their behalf at a shareholder meeting. This agreement is commonly used when a shareholder cannot attend a meeting in person, or when a shareholder wants to delegate their voting rights to someone else with more expertise.
If you are looking to create a shareholder proxy agreement for your business, it may be helpful to review a sample agreement to get a better understanding of what should be included. In this article, we will provide a shareholder proxy agreement sample and discuss the key components you should consider when drafting your own agreement.
Shareholder Proxy Agreement Sample
[Company Name] Shareholder Proxy Agreement
I, [Shareholder Name], hereby appoint [Proxy Name], with a business address of [Proxy Address], as my lawful proxy and representative to vote on my behalf at any meeting of shareholders of [Company Name], which I am entitled to attend and vote.
This proxy shall remain in effect until the completion of the specific meeting or until revoked by me.
In accordance with the terms of this proxy, [Proxy Name] shall have the power to vote and act on my behalf with respect to all matters that may properly come before the meeting, including the election of directors, executive compensation, and any other proposals that may be presented.
This proxy is irrevocable unless expressly revoked by me. This proxy shall not be revoked by my death or incapacity.
Key Components of a Shareholder Proxy Agreement
1. Shareholder Information
The agreement should include the name, address, and contact information of the shareholder appointing the proxy.
2. Proxy Information
The agreement should include the name, address, and contact information of the proxy being appointed.
3. Meeting Information
The agreement should include information regarding the specific meeting for which the proxy is being appointed, such as the name of the company and the date and location of the meeting.
4. Voting Rights
The agreement should specify the scope of the proxy`s powers, including which matters they are authorized to vote on and any limitations on their authority.
5. Revocation Information
The agreement should specify the circumstances under which the proxy agreement can be revoked, such as upon the completion of the specific meeting or by the shareholder`s express revocation.
Creating a shareholder proxy agreement is an important step for any shareholder who wants to ensure that their voting rights are properly exercised at a shareholder meeting. By reviewing this shareholder proxy agreement sample and understanding its key components, you can create a legally binding agreement that protects your interests as a shareholder. Remember to consult with an attorney if you have any questions or concerns about the drafting of this agreement.