Shareholders’ agreement for your startup.

Details

• Source (Startium board): https://gentrepreneur.startium.be/public/boards/8a29f1d2-6cd6-4c6a-a3cc-7599e5074eb0
• What it is: practical structure + example clauses for a Belgian Shareholders’ Agreement (SHA)

Why have a shareholders’ agreement?

Alongside the articles of association, an SHA helps co-founders agree on:

• how equity is earned/kept (vesting)
• governance and what happens in case of conflict
• how to handle new investors/funding rounds
• what happens when a founder leaves (good/bad leaver)

Template sections (as per the source)

• Definitions
• Vesting: 4 years, 12-month cliff (25% after cliff, then monthly)
• Good leaver / bad leaver
• Tag-along / drag-along
• Decision-making & deadlock
• Capital increases & financing
• IP: creations in scope belong to the company + IP assignment annex
• Role allocation, compensation, confidentiality, non-compete, and other clauses

Word draft

The source page includes a Word draft to start from:

https://startium-prod-belgium.s3.amazonaws.com/user-content/1756480634-4994668305.docx

Note

This is a base model—have it reviewed legally, especially when investors are involved.