Ortakl\u0131k S\u00f6zle\u015fmesi (Shareholders Agreement, SHA) veya Pay Sahipleri S\u00f6zle\u015fmesi, bir \u015firketin pay sahipleri aras\u0131nda ortak sahipler olarak haklar\u0131n\u0131 ve y\u00fck\u00fcml\u00fcl\u00fcklerini y\u00f6neten bir s\u00f6zle\u015fmedir. Esas s\u00f6zle\u015fmeden<\/a> (kamuya a\u00e7\u0131k ve \u015firketin kendisini y\u00f6neten) farkl\u0131 olarak, SHA pay sahipleri aras\u0131nda \u00f6zel bir s\u00f6zle\u015fmedir\u2014\u015firket hukukunun varsay\u0131lan kurallar\u0131n\u0131n d\u0131\u015f\u0131nda kalan y\u00f6neti\u015fim konular\u0131n\u0131 ele alma esnekli\u011fi sa\u011flar.<\/p>\n Kapsaml\u0131 bir SHA tipik olarak \u015funlar\u0131 ele al\u0131r: y\u00f6netim kurulu<\/a> kompozisyonu ve oy haklar\u0131, s\u00fcpermajorite veya oybirli\u011fi onay\u0131 gerektiren ayr\u0131lm\u0131\u015f konular (sermaye art\u0131r\u0131m\u0131, M&A, ili\u015fkili taraf i\u015flemleri, y\u00f6netici tazminat\u0131), hisse devir k\u0131s\u0131tlamalar\u0131 (ROFR<\/a>, tag-along<\/a>, drag-along<\/a>), yeni hisse ihra\u00e7lar\u0131nda \u00f6ncelik haklar\u0131, pay sahipleri i\u00e7in bilgi haklar\u0131, uyu\u015fmazl\u0131k \u00e7\u00f6z\u00fcm\u00fc ve kilitlenme mekanizmalar\u0131, \u00e7\u0131k\u0131\u015f<\/a> h\u00fck\u00fcmleri (zorla sat\u0131\u015f, buyout tetikleyicileri), gizlilik ve rekabet etmeme y\u00fck\u00fcml\u00fcl\u00fckleri ve sona erdirme ko\u015fullar\u0131.<\/p>\n Esas s\u00f6zle\u015fme \u015firket hukuku belgesidir; \u015firketi ba\u011flar. SHA pay sahipleri aras\u0131ndaki s\u00f6zle\u015fmesel anla\u015fmad\u0131r; imzalayan pay sahiplerini ba\u011flar. Esas s\u00f6zle\u015fme yasal asgari gereksinimlere uymal\u0131d\u0131r; SHA, esas s\u00f6zle\u015fmenin i\u00e7eremeyece\u011fi veya i\u00e7ermemesi gereken konular\u0131 ele alabilir. Esas s\u00f6zle\u015fme gelecekteki pay sahiplerini otomatik olarak ba\u011flar; SHA yaln\u0131zca imzalayan taraflar\u0131 ba\u011flar (yeni pay sahiplerinin kat\u0131l\u0131rken “deed of adherence” yoluyla kat\u0131lmas\u0131n\u0131 gerektirir).<\/p>\n SHA uygulamas\u0131 tipik olarak standart s\u00f6zle\u015fmesel \u00e7areleri kullan\u0131r\u2014belirli ifa, ihtiyati tedbir, tazminatlar\u2014ve giderek artan bi\u00e7imde belirli uyu\u015fmazl\u0131k \u00e7\u00f6z\u00fcm\u00fc i\u00e7in h\u00fck\u00fcmler (tahkim, uzman belirleme) i\u00e7erir. Yayg\u0131n haz\u0131rlama tuzaklar\u0131 aras\u0131nda belirsiz ayr\u0131lm\u0131\u015f konu tan\u0131mlar\u0131, eksik kilitlenme \u00e7\u00f6z\u00fcm mekanizmalar\u0131, yeni pay sahipleri kat\u0131l\u0131m\u0131 i\u00e7in yetersiz h\u00fck\u00fcmler ve SHA ile esas s\u00f6zle\u015fme aras\u0131ndaki tutars\u0131zl\u0131k yer al\u0131r. Risk sermayesi<\/a> destekli startup’lar i\u00e7in SHA’lar tipik olarak ABD tarz\u0131 finansmanlarda Yat\u0131r\u0131mc\u0131 Haklar\u0131 Anla\u015fmas\u0131<\/a>, Oy Anla\u015fmas\u0131 ve ROFR\/Ortak Sat\u0131\u015f Anla\u015fmas\u0131 ile de\u011fi\u015ftirilir veya tamamlan\u0131r, k\u0131ta Avrupas\u0131 ve T\u00fcrkiye birle\u015fik SHA’lara e\u011filimlidir.<\/p>\n","protected":false},"excerpt":{"rendered":" TLDR: Ortakl\u0131k S\u00f6zle\u015fmesi (Shareholders Agreement, SHA) veya Pay Sahipleri S\u00f6zle\u015fmesi, bir \u015firketin pay sahipleri aras\u0131nda ortak sahipler olarak haklar\u0131n\u0131 ve y\u00fck\u00fcml\u00fcl\u00fcklerini y\u00f6neten bir s\u00f6zle\u015fmedir. Esas s\u00f6zle\u015fmeden (kamuya a\u00e7\u0131k ve \u015firketin kendisini y\u00f6neten) farkl\u0131 olarak, SHA pay sahipleri aras\u0131nda \u00f6zel bir s\u00f6zle\u015fmedir\u2014\u015firket hukukunun varsay\u0131lan kurallar\u0131n\u0131n d\u0131\u015f\u0131nda kalan y\u00f6neti\u015fim konular\u0131n\u0131 ele alma esnekli\u011fi sa\u011flar. Standart SHA H\u00fck\u00fcmleri […]<\/p>\n","protected":false},"author":4,"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"categories":[],"class_list":["post-12554","term","type-term","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term"}],"about":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/types\/term"}],"author":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/comments?post=12554"}],"version-history":[{"count":1,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12554\/revisions"}],"predecessor-version":[{"id":12921,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/12554\/revisions\/12921"}],"wp:attachment":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/media?parent=12554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/categories?post=12554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Standart SHA H\u00fck\u00fcmleri<\/h3>\n
SHA vs. Esas S\u00f6zle\u015fme<\/h3>\n
Uygulama ve Pratik D\u00fc\u015f\u00fcnceler<\/h3>\n