The article deals with the question of the corporate law impact of shareholders' agreements under Danish law. The comments and recommendations of report nr. 1498/2008 (with suggestions for at new Danish corporate legislation for public and private companies) is taken into consideration, and it is demonstrated that under present Danish law, the agreements can, under certain conditions, obtain effect on the decisions of the general assembly, provided that the agreement is known by all shareholders. The report suggests some modifications to this state of law, but the article demonstrates that these suggestions should be modified. Finally, the article demonstrates, also considering the remarks in 1498/2000, that the shareholders' agreement can and will have no effect on decisions of the board. If one wishes to influence board decisions, this must be done through the articles of association of the company.