Articles of Association (Standard Entrepreneur - Good/Bad Leavers)

Articles of Association 4 (Good/Bad Leavers)

As for Articles for owner managed companies but additionally providing for Good Leaver/Bad Leaver employee share buy-back.

These allow the buy-back of employee-held shares at the lower of acquisition cost and fair value for bad leavers.

Bad Leavers are those dismissed for gross misconduct or who join a competitor within 12 months of leaving.

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