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Share Option Agreement

Share Option Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Share Option Agreement

"I need a Share Option Agreement under UAE law for granting options to our senior tech employees, with a four-year vesting schedule starting March 2025 and including specific provisions for our planned IPO in 2025."

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Document background
The Share Option Agreement serves as a crucial instrument for companies operating in the UAE to attract, retain, and motivate key personnel by offering them the opportunity to acquire ownership in the company. This document is particularly relevant for growing businesses, startups, and established companies looking to align stakeholder interests with company performance. The agreement must comply with UAE commercial laws, including Federal Law No. 32 of 2021 and relevant free zone regulations where applicable. It typically includes detailed provisions on option grants, vesting schedules, exercise procedures, and regulatory requirements specific to the UAE jurisdiction. The document is essential for companies implementing employee incentive schemes or strategic partnership arrangements where share ownership is a key component.
Suggested Sections

1. Parties: Identification of the company granting the options and the option holder

2. Background: Context of the option grant, relationship between parties, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement, including Option Shares, Exercise Price, Grant Date, etc.

4. Grant of Option: Details of the option grant, including number of shares, class of shares, and any conditions attached

5. Exercise Price: Specification of the price at which options can be exercised and payment terms

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

7. Exercise Period: Timeframe during which options can be exercised and process for exercise

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

9. Termination Provisions: Treatment of options upon various termination scenarios

10. Company's Obligations: Company's commitments regarding maintaining option shares and necessary approvals

11. Tax Provisions: Handling of tax obligations and responsibilities

12. Compliance with Laws: Provisions ensuring compliance with UAE laws and regulations

13. Notices: Process for formal communications between parties

14. General Provisions: Standard legal provisions including governing law, jurisdiction, and amendment procedures

Optional Sections

1. Change of Control Provisions: Include when company anticipates potential merger or acquisition activity

2. Lock-up Period: Include for pre-IPO companies or when restrictions on immediate sale are needed

3. Shareholder Rights: Include when option holders receive specific rights prior to exercise

4. Drag-along and Tag-along Rights: Include when aligning option holders with existing shareholder agreements

5. International Compliance: Include when option holders may be subject to multiple jurisdictions

6. Currency Provisions: Include when exercise price is in non-UAE currency

7. Employee-Specific Provisions: Include when options are part of employee compensation package

Suggested Schedules

1. Option Certificate: Formal certificate detailing the option grant specifics

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

3. Exercise Notice Form: Template form for exercising options

4. Deed of Adherence: Form for adherence to shareholders' agreement upon exercise

5. Company's Articles of Association: Current articles showing share classes and transfer restrictions

6. Shareholders' Agreement: Summary of relevant provisions from existing shareholders' agreement

7. Regulatory Approvals: Copies of required UAE regulatory approvals and permissions

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

Real Estate

E-commerce

Manufacturing

Telecommunications

Energy

Consulting

Retail

Media and Entertainment

Construction

Aviation

Hospitality

Relevant Teams

Legal

Human Resources

Finance

Compliance

Corporate Secretariat

Executive Management

Board of Directors

Compensation and Benefits

Corporate Governance

Employee Relations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Managing Director

Executive Director

Senior Manager

Department Head

Key Employee

Board Member

Company Secretary

General Counsel

HR Director

Finance Manager

Legal Counsel

Compliance Officer

Senior Executive

Partner

Vice President

Industries








Teams

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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