Shareholders’ agreements

Review a shareholders’ agreement, clause by clause

Upload the agreement, alone or with the articles of association. Get findings on governance, transfers, exits and protections, tied to their clauses.

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Shareholders’ Agreement

5. Drag-along

Shareholders holding 50% of the shares may require all others to sell on the same terms.

CriticalA simple majority can force you to sell. Ask for a higher threshold and a minimum price.

6. Tag-along

If a shareholder sells more than 50% of the shares, the others may sell theirs on the same terms.

In lineFull tag-along on a change of control, as a minority shareholder expects.

9. Leaver

A shareholder who leaves the company for any reason sells his shares at nominal value.

MajorNominal value even for a good leaver. Ask for market value outside cases of fault.

11. Information

Each shareholder receives the quarterly accounts within 45 days of the end of each quarter.

What Destrier checks

Governance and reserved matters
Pre-emption, tag-along and drag-along
Leaver provisions and vesting
Anti-dilution and new money
Deadlock and exit

What you get

Serious issues, points to raise before signing, or nothing major: a first reading of your documents, with the red flags and the questions to ask your lawyer. Automated, not a legal opinion.

Your documents and the findings side by side, each highlighted down to the exact word or number. Defined terms open in place and linked clauses are one click away. Accept or reject findings, ask follow-up questions, have a finding reworded. Propose an edit: a redline of the clause, the finding’s new severity, and a note for the other party explaining the change.

See which pages and paragraphs each check read, and watch the first reading update as you accept or reject findings. Download your document in Word, with every finding as a comment or with your accepted edits as tracked changes, or an audit table.

Results of a sample review: serious issues found, with the red flags and the things to ask your lawyer

More use cases

Loan and credit agreements Term sheets Share purchase agreements Rental and lease contracts Supplier contracts Employment contracts Divorce agreements Prenuptial agreements Confidentiality agreements (NDA)SAFEs and convertible notes Fund LPAs

Try it on your own document

Your first review is free, up to 20 pages. Watch it run, then create an account to read every finding.