Proxy Agreement
What is this form?
A Proxy Agreement allows a stockholder to authorize another individual, known as an agent, to vote on their behalf at a company's meetings. This type of agreement is crucial in corporate governance, particularly during shareholder votes. It distinguishes itself from other forms by enabling the stockholder to delegate voting power for specific matters, such as amendments to the company's articles of incorporation, thereby facilitating decision-making processes within the company.
Form components explained
- Date of the agreement
- Identification of the company and stockholder
- Definition of the shares involved
- Details of the irrevocable proxy granted to the company
- Representations and warranties made by both the stockholder and the company
- Specific covenants regarding the transfer and voting of shares
- Amendments to the company's charter related to voting and liquidation rights
When to use this form
This Proxy Agreement is typically used in corporate settings where a stockholder cannot attend a meeting but wishes to have their votes counted on important matters, such as company mergers, amendments to articles of incorporation, or other significant corporate actions. It is essential during annual or special meetings where decisions must be made that directly impact the company's future.
Who needs this form
- Stockholders of a corporation who are unable to attend a meeting
- Individuals who wish to appoint a trusted agent to vote on their behalf
- Companies looking to ensure they have sufficient voting power represented at shareholder meetings
- Investment advisors managing votes for multiple stockholders
Completing this form step by step
- Enter the date of the agreement at the top of the form.
- Identify the company, including name and state of incorporation.
- Fill in the stockholder's details and the name of the designated agent.
- Specify the number of shares involved and their par value.
- Review and complete any amendments related to voting and liquidation rights as indicated in the exhibits.
- Sign the agreement along with any necessary witnesses, if required by state law.
Does this document require notarization?
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to complete all required fields, particularly dates and names.
- Not verifying the authority of the agent to act on behalf of the stockholder.
- Neglecting to include or attach necessary exhibits or amendments to the agreement.
Benefits of completing this form online
- Convenience of completing the form from anywhere with internet access.
- Editability allows users to adapt the document as necessary before finalizing.
- Reliability of using templates created by licensed attorneys ensures legal validity.
Quick recap
- A Proxy Agreement allows stockholders to delegate their voting rights at corporate meetings.
- It is crucial for participating in decisions when unable to attend in person.
- Properly completing the form enhances its credibility and enforceability.
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FAQ
For example, if a member will be absent from a company meeting, they have the right to appoint another person (a non-member of the company) to attend the meeting and vote in their stead. This person is therefore called a Proxy.
Proxy directive is a legal document assigning the health care decisions of an individual to another in the event the individual is incapacitated. A proxy directive is typically prepared in consultation with family members, primary physicians and sometimes (though not mandatory) an attorney.
A proxy is a person who represents a member in the shareholders' meeting of a company, with a legal document that could prove their authority.
A proxy is a person who represents a member in the shareholders' meeting of a company, with a legal document that could prove their authority.
Proxies may be granted via telephone or electronic mail as well as the standard written form. A proxy is valid for 11 months from the date on which it was signed unless a different period is specifically provided in the proxy form. In no event is a proxy valid for more than three years after execution.
When you sign this proxy form, you authorize the proxyholder to act and vote your shares on your behalf at the meeting and any adjournment, and to carry out your voting instructions. If you are an individual shareholder, you or your authorized attorney must sign the proxy form.
A proxy agreement is an agreement that grants authority for an individual to do legal tasks for another individual. An example of this would be when a shareholder assigns permission to a person to vote on their behalf.
