Contract:Aurum Shareholders Contract

Contract:Aurum Shareholders Contract
This is a Contract. Please do not change the details included within this section. The original document can be found here.

The contract will be in effect permanently unless dissolved. This contract can only be dissolved with at least 5 votes in favour. NOTE: This contract will also dissolve the original Aurum Shareholders Contract!!! If the corporation is dissolved the shares will be split as in 7ai) all remaining funds will be evenly split.

Shares

All the above mentioned names are the co-founders/shareholders of Aurum. Company shares will be those shown by the ‘corporation shares’ spreadsheet on google docs (which all shareholders have a right to view)

1a) The maximum amount of shareholders is never to exceed 8.

I) No other eRepublik citizen can hold a share in Aurum until all of the following happen:

There are less than 8 shareholders within the corporation
There is at least a 2/3 majority in favour of them joining between the existing shareholders
They must have at least 100 GOLD available for immediate investment or a company of the same value.

II) All future shareholders must sign this contract before they are allowed to be part of the corporation.

1b) Upon joining each shareholder is immediately entitled to 1% of each company within the corporation, however all other shareholders become entitled to 1% of any companies they may add to the corporation.

1c) If profits of a company are converted into GOLD for

I) a company quality upgrade or

II) an export license

Then the shares are affected as follows:

The majority owner of the company creating the upgrade profit gets 50% of the fee in shares
The remaining 50% is split evenly between the remaining shareholders

Future Investments

2a) In the future expansion of the corporation:

All companies/upgrades/licences must be purchased either by

I) GOLD from shareholders or

II) profits generated from existing companies within the corporation

There must be at least a 2/3 ratio in favour of the purchase for it to go ahead.

2b) Shareholders must clearly state in the cashflow thread when they have invested into the corporation account, and how much they have invested.

When investing in the corporation, a shareholder must place there investment GOLD into Aurum Vault.

2c) When using funds from the corp account for expansion, it will not be selective who the GOLD belongs to, thus to prevent a shareholder only investing into one of his existing companies before the bond. To understand how the shares of a new company are calculated, please ask the financial adviser of the corp

2d) No shareholder is permitted to own a company outside of the corporation, they shall not sign this contract until either:

I) They sell the company and invest the GOLD from the sale into the corp

II) They place the company into one of the corp owned organizations.

Organization Running

3a) All shareholders will be given the password to all the corporation owned organization accounts.

Note: The only exception to the above will be Aurum Vault, which will be known only to the finance organizer and the 2 most trusted members as selected by the financial adviser.

No shareholder is allowed to change the password of an organization, without reason and BEFORE informing all other shareholders of the change and changing the Google document.

3b) No shareholder is permitted to move share or a company into their personal account or any other account outside of the corporation.

When transferring funds between Organizations the shareholder MUST state the transferal in the cash flow thread in the UK forums.

3c) On the creation of a new Organization for the expansion of the corp, it must immediately fall into all points off this contract i.e. password known to all.

3d) A shareholder must NOT use the Organization to:

I) Post in the in game forums, unless in a contract or selling of part of that organization

II) Exploit a bug

III) Post abuse language in a PM or Newspaper article

Company Running

All shareholders are to chip in with the running of all the companies, however they should communicate what they are doing through the forums.

4a) No gold should be kept in the company accounts, it shall be collected an donated into the Aurum Vault account.

4b) Once joined with the corporation, the shareholder that previously owned the company no longer owns any of the companies, however they still own the equivalent amount of GOLD within the corp. Hence now shareholder has overriding power over any of the decisions made.

4c) If a country no longer exists for export e.g. Australia, then that countries export licenses becomes worthless within the corporation and the relevant shareholders’ shares will decrease accordingly.

If a country were to win a resistance war and re-appear, then the value of share for that export license would return.

Other

5a) All members of the corporation must have a googlemail account and be willing to give the address to any other shareholder who asks for it.

5b) All shareholders must have a account on the UK forums and will be granted access to the Aurum area. They must follow the forum rules.

Upon leaving the corporation, shareholders will be removed from this area.

5c) No shareholder should do anything to tarnish the reputation of the Aurum or Binary brands.

6a) All other money making schemes not yet recognized as companies, such as Bookies and Profit Banks owned by shareholders MUST also be integrated into the corporation. However the person in charge is permitted to continue to do so, however profits will now belong to the corporation.

Shareholders are permitted to use such schemes as mentioned above in the same way as any other citizen, and win/lose money from them regardless e.g. Aurum Bookies

7a) All shareholders are to be given an admin login for the Aurum website, so that they have the option to add/edit if they feel necessary.

8a) Within v1, the new API's will be regarded as 100% part of the corporation, and the shares will work as per in point 1c), with the developer getting the 50% of shares and the other shareholders an even split of 50%.

9a) A shareholder is not permitted to in any way fund/part-fund a resistance war.

Leaving/Inactivity

10a) For a Shareholder to leave the corporation they must:

I) Give 2 weeks notice

II) Be granted to do so by at least 2/3 ratio of the other shareholders

10b) A leaving shareholder would be entitled to either,

I) Take 80% of their shares in GOLD, receiving 5% of their shares each week for 16 consecutive weeks.

II) Take company(s) worth 50% of the value of their shares.

10c) However failure to meet point 9a) means that upon leaving they will only receive 50% of their shares in GOLD or 30% worth in a company or companies.

10d) If a shareholder does not give prior indication and is inactive for a period of 30 days then he is declared to be inactive and his shares get split evenly between remaining shareholders. Note: Inactive will be classed as 3 or less days within the 30 containing contact/work/post.

I) If a shareholder has been canceled out of the corporation due to inactivity, then they have a period of 10 days to appeal. An appeal will consist of a forum debate, and will require a vote in favour of the returning shareholder.

II) A successful appeal will see the shareholder have 80% of his share reimbursed, the other 20% will be evenly split amongst the other shareholders.

10e) Upon the departure of a shareholder, all of the corporations organizations accounts will receive a mandatory change in password. This is to ensure no old shareholders can steal money from the corporation.

Withdrawing Shares

11a) A shareholder is allowed to withdraw GOLD (no local currencies) from Aurum Vault, however they must follow these regulations:

I) The maximum amount withdrawn is

100ˇ GOLD

II) There is at least

200 GOLD in the Aurum Vault account at the time of requesting the withdrawal

II) They give 7 days notice on withdrawing the GOLD and clearly post on the UK forum and alert the financial adviser

IV) They DO NOT use the GOLD to create a Company or Political Party, or anything contradicting any point of this contract.

V) They DO NOT use the GOLD to contribute towards a resistance war.

Once a withdrawal is made the same shareholder cannot withdraw any more GOLD for a period of 30 days.

Punishments

Rule breaking has been categorised into 3 categories, minor, serious, severe.

12a) Breaking a minor rule means the offender has 2 weeks to pay Aurum Vault a penalty sum of 10 GOLD, alongside any currency acquired whilst breaking a rule. Plus 3 GOLD for every week after the original 2 weeks that the GOLD goes unpaid.

I)Breaking minor rules 3 times results in a serious punishment.

II)Minor rules are: 2b/2bII,3bII, 4a, 5a, 5b

12b) Breaking a serious rule means the offender has 4 weeks to pay Aurum International a total fine of 30 GOLD, alongside any currency acquired whilst breaking a rule plus 8 GOLD a week after the original 4 weeks.

I)Breaking a serious rule 3 times results in red punishment.

II)Serious rules are: 2d,3ai, 3dii, 3diii, 5c, 9a, 11a(all parts)

12c) Breaking a severe rule results in the offender being immediately dismissed and sacrificing 150 GOLD after they have received their 50% for leaving the corporation. e.g. You own 500 GOLD in the corporation, which becomes 250 upon dismissal (50%) and then the share holder pays 150 GOLD leaving themselves with 100 GOLD.

Severe Rule is: 3b

12d) For a punishment to stand it must be agreed by a 2/3 ratio by the other shareholders, a vote will be conducted on the UK forums.

12e) All shareholders have the right to appeal against punishments, they will write a appeal document between 10-500 words, which will be read and voted upon by the 3 longest standing shareholders (not including shareholder receiving punishment)