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Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 6440
Experience:  Solicitor
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Selling my company shares, the company want to take out the

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selling my company shares, the company want to take out the bonus being paid to the managing director out of the proceeds of the sale. Can they do this?

hello my name is ***** ***** I will help you with this.

For now please let me know whether you have a shareholder ageeement?

Customer: replied 1 year ago.
i have a shareholders agreement

Does it say that the MD or anyone else would be entitled to a bonus out of the proceeds?
If not, then they can not. I have to say it would be most unusual, I have never heard of this before.

Therefore in short, unless the agreement says this can be done, then they are prohibited from doing so

Can I clarify anything for you about this today please?

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