template

Emi Share Option For Time And Performance (Stand-Alone)

by
Genie Team
Genie Team
Oct, 10 2023

When to use this template

Emi Share Option For Time And Performance (Stand-Alone) focuses on providing a framework for Employee Share Option Plans (ESOPs) that allow employees to acquire shares in the company based on their tenure and performance.

The template likely sets out the terms and conditions of the share option plan, detailing the eligibility criteria for employees to participate. It may outline the specific time-based requirements, such as minimum service periods, before an employee becomes eligible for options. Additionally, the template likely incorporates performance-based criteria, which define the performance metrics employees must meet to qualify for share options.

The document may also cover the process of granting, exercising, and vesting of share options, including any restrictions or limitations placed on the shares. It may detail the exercise price, number of shares available for allocation, and possibly the vesting schedule, indicating when employees can convert the options into actual shares.

Furthermore, the template will likely address tax implications, compliance with relevant laws, and any other legal considerations specific to UK legislation. It may include provisions to address the hypothetical scenarios of termination, resignation, or change of control, outlining what happens to the share options in such cases.

Overall, this legal template serves as a comprehensive guide for UK companies seeking to establish an Emi Share Option plan that rewards employees based on a combination of their service time and performance metrics.

Key issues covered in this template

  • Reporting to HMRC
  • Ceases to be capable of exercise
  • Employment termination
  • Exercise condition
  • Fax notification
  • Illustrative only
  • Notice timing
  • Takeover offer
  • Tax liability
  • Work email address
  • N/A

What to watch out for

  • The agreement should grant the employee a time-based share option

  • The agreement should be performance-based

  • The company should be able to terminate the agreement at any time

  • The employee should be able to terminate the agreement if the company fails to meet the performance criteria

51

Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

P
H
P
C
N
C
M
P
A
G
S
A
+8 more
Consultancy
21%
Technology
17%
Other
12%
Finance
10%
Consumer, Public & Health Services
7%
Legal Services
6%
Media
6%
Sport & Entertainment
5%
Transport
4%
Construction
4%
Education
4%
Manufacturing
4%

Additional information

Business categories

Business activities

Relevant sectors

Agriculture, Forestry and Fishing

Mining

Construction

Transport

Wholesale

Manufacturing

Energy

Retail

Finance

Real Estate

Consumer, Public & Health Services

Media

Insurance

Legal Services

Education

Technology

Sport & Entertainment

Consultancy

Public Administration

Other

Relevant company sizes

1 - 3

20 - 49

250 - 999

4 - 19

50 - 249

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes