Delaware Voting Agreement between Clearworks Integration Services, United Computing Group, United Consulting Group, and Kevan Casey regarding sale of outstanding common stock

• Category: Corporations - Public - Voting Agreements
• State: Multi-State
• Control #: US-EG-9290
• Format: Word; Rich Text

Description

Voting Agreement between Clearworks Integration Services, Inc., United Computing Group, Inc., United Consulting Group, Inc. and Kevan Casey regarding sale of outstanding common stock dated December 30, 1999. 5 pages. A Delaware Voting Agreement is a legal contract between Clear works Integration Services, United Computing Group, United Consulting Group, and Kevin Casey that governs the voting rights and obligations of the parties involved in the sale of outstanding common stock. It establishes the terms and conditions under which the stockholders agree to vote their shares in a specific manner during the sale process. The purpose of the Delaware Voting Agreement is to ensure that all parties act in a coordinated manner and vote in favor of the sale of outstanding common stock. By doing so, the agreement helps to streamline the decision-making process and facilitate the successful completion of the sale. The agreement typically includes provisions regarding the number of shares each party owns and their respective voting power, the specific terms of the sale transaction, and the conditions under which the agreement may be terminated or amended. It may also outline any shareholder rights or obligations related to the sale, such as restrictions on the transfer of shares or the requirement for approval by a certain percentage of shareholders. Different types of Delaware Voting Agreements may exist between Clear works Integration Services, United Computing Group, United Consulting Group, and Kevin Casey depending on the specific circumstances of the sale of outstanding common stock. Some possible variations or additional agreements may include: 1. Majority Voting Agreement: In this type of agreement, the parties may agree that a certain majority of votes is required to approve the sale. This can provide more certainty and minimizes the risk of a small minority blocking the transaction. 2. Lock-up Agreement: This agreement may include provisions that restrict the sale or transfer of shares by the parties involved for a certain period of time to maintain stability and prevent sudden market fluctuations. 3. Standstill Agreement: A standstill agreement may be included to prevent any party from taking actions that could interfere with the sale process or disrupt the negotiations. It typically prohibits activities such as acquiring additional shares, launching a hostile takeover bid, or soliciting proxies from other shareholders. 4. Tag-Along and Drag-Along Rights: These rights may be included to protect the interests of minority shareholders. Tag-along rights allow minority shareholders to participate in a sale transaction on the same terms and conditions as the majority shareholders, while drag-along rights allow majority shareholders to force minority shareholders to sell their shares if a certain threshold is reached. In summary, a Delaware Voting Agreement is a crucial component when selling outstanding common stock, as it establishes the rules and obligations for the parties involved. The specific type of agreement can vary depending on the circumstances and objectives of the parties, and may include variations such as majority voting, lock-up, standstill, tag-along, or drag-along provisions.

A Delaware Voting Agreement is a legal contract between Clear works Integration Services, United Computing Group, United Consulting Group, and Kevin Casey that governs the voting rights and obligations of the parties involved in the sale of outstanding common stock. It establishes the terms and conditions under which the stockholders agree to vote their shares in a specific manner during the sale process. The purpose of the Delaware Voting Agreement is to ensure that all parties act in a coordinated manner and vote in favor of the sale of outstanding common stock. By doing so, the agreement helps to streamline the decision-making process and facilitate the successful completion of the sale. The agreement typically includes provisions regarding the number of shares each party owns and their respective voting power, the specific terms of the sale transaction, and the conditions under which the agreement may be terminated or amended. It may also outline any shareholder rights or obligations related to the sale, such as restrictions on the transfer of shares or the requirement for approval by a certain percentage of shareholders. Different types of Delaware Voting Agreements may exist between Clear works Integration Services, United Computing Group, United Consulting Group, and Kevin Casey depending on the specific circumstances of the sale of outstanding common stock. Some possible variations or additional agreements may include: 1. Majority Voting Agreement: In this type of agreement, the parties may agree that a certain majority of votes is required to approve the sale. This can provide more certainty and minimizes the risk of a small minority blocking the transaction. 2. Lock-up Agreement: This agreement may include provisions that restrict the sale or transfer of shares by the parties involved for a certain period of time to maintain stability and prevent sudden market fluctuations. 3. Standstill Agreement: A standstill agreement may be included to prevent any party from taking actions that could interfere with the sale process or disrupt the negotiations. It typically prohibits activities such as acquiring additional shares, launching a hostile takeover bid, or soliciting proxies from other shareholders. 4. Tag-Along and Drag-Along Rights: These rights may be included to protect the interests of minority shareholders. Tag-along rights allow minority shareholders to participate in a sale transaction on the same terms and conditions as the majority shareholders, while drag-along rights allow majority shareholders to force minority shareholders to sell their shares if a certain threshold is reached. In summary, a Delaware Voting Agreement is a crucial component when selling outstanding common stock, as it establishes the rules and obligations for the parties involved. The specific type of agreement can vary depending on the circumstances and objectives of the parties, and may include variations such as majority voting, lock-up, standstill, tag-along, or drag-along provisions.