Shareholders equal rights in the event of triggering event

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Reference no: EM13874782

Clint Wade owns 70 percent of the stock of Knock-Down Inc., a demolition and gravel supply company. The remaining 30 percent of the stock is owned in equal shares by three of the key managers of the business. The minority owners recently had their attorney draw up a “standard” buy-sell agreement to protect them in case one of them dies, retires, or wants out of the business. The agreement gives all the shareholders equal rights in the event of a triggering event. You represent Wade. How would you advise him?

Reference no: EM13874782

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