Chapter 13 - My second mistake almost happens
After the audit, I wanted Arthur gone.
Not leave.
Gone.
No board.
No title.
No family dividends.
Nothing.
My lawyer asked:
“What does your shareholder agreement allow?”
Not:
What would feel satisfying?
Arthur owned thirty-two percent.
You do not erase equity because somebody behaves terribly.
His shares remained his.
Could he be removed as officer?
Yes.
By board vote under employment agreement.
Could dividends be withheld selectively?
No.
Could we force a buyout?
Only under narrow disability, death, or certain bad-act provisions.
Would misdemeanor child assault qualify?
Probably not under the existing language, which focused on fraud and felonies affecting the company.
I hated our lawyers for writing contracts that did not anticipate:
CEO slaps niece.
Then realized that is not how contracts work.
The company had to decide employment based on company conduct and role requirements.
Family punishment belonged elsewhere.
I wanted systems to merge because anger likes one giant verdict.
They did not.
Criminal case.
My assault diversion.
Company review.
Shareholder rights.
Family access.
Separate.
May you like
Frustrating.
Correct.
