The agreement contains sections that set out the fair and legitimate pricing of shares (especially during the sale). It also allows shareholders to make decisions about what external parties can become future shareholders and offers guarantees on minority positions. Automatic transfers are usually triggered when a shareholder dies; is convicted of a crime; is dissolved or liquidated (if the shareholder is a corporation); Insolvency claims resigned from his job in the company (where the shareholder is also an employee); against the SHA; other incidental restrictions that may harm the business; or, among other things, an obligation to the company. Shareholders can determine which acts or omissions trigger an automatic transfer and, as long as they are clearly defined in the SHA, they are binding. In the event of a voluntary transfer, the selling shareholder must ensure that the terms of the takeover offer are extended to other shareholders in proportion to their respective shares. The rights of the tag along exist to protect minority shareholders, so that a majority shareholder, when it sells its shares, grants other shareholders the right to join the transaction. In other words, writing a shareholders` pact in plain English means that shareholders are less likely to challenge what was agreed upon when the document was signed. A SHA may contain terms in the statutes; However, a SHA is generally larger and offers more protection to shareholders. There is no standard form that adapts HSAs flexibly to the specific needs of shareholders. Articles and SHAs are often complementary.
In many legal systems, the statutes can only be changed by the adoption of a special decision (75% or more of the shareholders present and voting at a general meeting). However, a SHA often requires unanimous approval of its revision, but may also require approval by a super majority (a number of votes far more than half of the voting shares, but less than 100%).