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What is an Employee Option Repurchase Agreement Template?

An “Award Certificate – Phantom Shares and Cash-settled Share Appreciation Rights,” is a formal certificate issued to an individual to acknowledge their participation and entitlement to both phantom shares and cash-settled share appreciation rights as part of an incentive or compensation program.

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What is an Employee Option Repurchase Agreement?

The “Employee Option Repurchase Agreement” is a legal document that governs the repurchase of employee stock options by the company.

What is the purpose of the Employee Option Repurchase Agreement?

The purpose of this document is to establish the terms and conditions under which the company can repurchase employee stock options. It outlines the rights, obligations, and procedures for both the company and the employee in relation to the repurchase process.

When should you use the Employee Option Repurchase Agreement?

This document is typically used when an employee holds stock options granted by the company, and the company wishes to repurchase those options. It may be utilized in situations such as termination of employment, change in control events, or when specific conditions outlined in the stock option agreement are met.

What are the components of the Employee Option Repurchase Agreement?

The components of the document may include:

  1. Title: “Award Certificate – Phantom Shares and Cash-settled Share Appreciation Rights” or similar.
  2. Recipient Information: Name, employee ID, position, and other relevant details of the individual receiving the award.
  3. Award Details: Description of the phantom shares and cash-settled share appreciation rights program, including the number of phantom shares granted, the strike price or reference price, vesting schedule, expiration date, and any other important terms and conditions.
  4. Rights and Entitlements: Statement outlining the recipient’s rights and entitlements, such as the right to receive cash payment or benefits upon the exercise or settlement of the awards.
  5. Award Confirmation: A declaration certifying the recipient’s participation in the program and acknowledging their entitlement to the specified number of phantom shares and cash-settled share appreciation rights.
  6. Conditions and Restrictions: Any specific conditions, restrictions, or requirements related to the program, such as confidentiality obligations or non-transferability.
  7. Governing Law and Jurisdiction: Mention of the governing law and jurisdiction specified in the award certificate for dispute resolution.
  8. Signatures: Signatures of authorized representatives from the company, including relevant executives or HR personnel, and the recipient’s signature (if required).

Who can be members of the Employee Option Repurchase Agreement?

The members of the document include the employee holding the stock options and the company that granted those options. Legal representatives or counsel may also be involved in the preparation or review of the document to ensure compliance with applicable laws and regulations.

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