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Employee Share Option Agreement

Employee Share Option Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Employee Share Option Agreement

"I need an Employee Share Option Agreement for our UAE-based technology company, covering a grant of 10,000 options to senior developers with a 4-year vesting period starting March 2025, including specific provisions for our DIFC free zone status."

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Document background
The Employee Share Option Agreement is a crucial document used by UAE companies to provide employees with the right to purchase company shares at a predetermined price within a specified timeframe. This agreement is commonly implemented as part of employee retention and incentivization strategies, particularly in growth-stage companies and established corporations. The document must comply with UAE Federal Law No. 32 of 2021 (Commercial Companies Law), UAE Labor Law, and relevant securities regulations. It typically includes detailed provisions on vesting schedules, exercise procedures, and termination consequences, while accounting for UAE-specific requirements such as foreign ownership restrictions and free zone regulations where applicable. The agreement serves as a formal record of the option grant and establishes the legal framework for the eventual acquisition of shares by employees.
Suggested Sections

1. Parties: Identification of the Company and the Employee (Option holder)

2. Background: Context of the agreement and reference to any employee share option plan

3. Definitions: Key terms used throughout the agreement including Option, Exercise Price, Vesting Period, etc.

4. Grant of Option: Details of the share options being granted, including number of shares and exercise price

5. Vesting Schedule: Timeline and conditions for when options become exercisable

6. Exercise of Options: Process and requirements for exercising options

7. Restrictions on Transfer: Limitations on transferring or assigning the options

8. Termination of Employment: Impact of various types of employment termination on the options

9. Taxes and Compliance: Tax obligations and regulatory compliance requirements

10. Corporate Events: Treatment of options in case of mergers, acquisitions, or other corporate events

11. Notices: Communication requirements and methods between parties

12. Governing Law and Jurisdiction: Specification of UAE law application and dispute resolution

Optional Sections

1. Shareholder Rights: Details of rights as a shareholder after exercise, used when company wants to specify voting or dividend rights

2. Lock-up Period: Restrictions on selling shares after exercise, included when company requires minimum holding periods

3. Clawback Provisions: Company's right to reclaim shares or benefits, used in executive agreements or when required by policy

4. Non-Competition: Restrictions on working with competitors, included for senior employees or when required by company policy

5. Foreign Ownership Compliance: Additional provisions for ensuring compliance with UAE foreign ownership restrictions, needed when applicable

6. Free Zone Provisions: Specific provisions for DIFC/ADGM companies, included when company is in these jurisdictions

Suggested Schedules

1. Option Certificate: Formal certificate detailing the specific grant of options

2. Exercise Notice: Template form for exercising options

3. Vesting Schedule Details: Detailed breakdown of vesting dates and conditions

4. Company Share Plan Rules: Reference to or extract of relevant company share plan rules

5. Regulatory Compliance Checklist: List of regulatory requirements and compliance steps

6. Shareholder Agreement Extract: Relevant provisions from the company's shareholder agreement affecting option holders

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Technology

Financial Services

Professional Services

Healthcare

Retail

E-commerce

Manufacturing

Telecommunications

Real Estate

Energy

Construction

Media and Entertainment

Consulting

Relevant Teams

Human Resources

Legal

Finance

Company Secretarial

Compensation and Benefits

Corporate Governance

Executive Leadership

Board Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Senior Manager

Department Head

Technical Lead

Software Engineer

Sales Manager

Account Executive

Product Manager

Operations Manager

Research Scientist

Marketing Manager

Business Development Manager

Senior Consultant

Project Manager

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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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