According to corporate governance parlance, an underhanded agreement is a contract executed by one person as authorized by the Board of Directors.
Majority shareholding refers to ownership of an entity by a person or entity that controls more than 50% of a company's shares. A majority shareholder can exercise significant influence over the company with their voting shares.
Corporate governance provides the policies and rules for managing a corporation in the best interest of shareholders.
Corporate governance also requires the interests of minority shareholders to be taken into account in decision-making, thereby frowning at some underhanded agreements.
Thus, it is possible for those charged with corporate government (the board of directors) to facilitate underhanded agreements for the majority shareholders. But this practice runs against the ethics of corporate governance.
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