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Employee Share Agreement

Employee Share Agreement Template for Australia

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Key Requirements PROMPT example:

Employee Share Agreement

"I need an Employee Share Agreement for our Australian private tech startup, offering shares to senior developers with 3-year performance-based vesting tied to company revenue targets and a clawback provision if they leave within the first 18 months."

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Document background
The Employee Share Agreement is a fundamental document used by Australian companies to implement employee share ownership schemes, which are increasingly popular as tools for attracting, retaining, and motivating employees. This agreement is essential when companies wish to offer shares to their employees as part of their compensation or incentive package. It must comply with Australian regulatory requirements, including the Corporations Act 2001, ASIC regulations, and tax legislation. The document typically outlines share allocation, vesting schedules, performance conditions, dealing restrictions, and the consequences of employment termination. It's particularly important for both private and public companies implementing employee equity programs, and requires careful consideration of corporate governance, securities laws, and tax implications.
Suggested Sections

1. Parties: Identifies the company issuing the shares and the eligible employee

2. Background: Explains the context of the agreement and the company's employee share scheme

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Offer of Shares: Details of the shares being offered, including quantity, class, and price

5. Eligibility and Acceptance: Conditions for participation and process for accepting the offer

6. Vesting Conditions: Specifies the vesting schedule and conditions that must be met

7. Issue of Shares: Process and timing for issuing shares upon satisfaction of vesting conditions

8. Restrictions on Dealing: Limitations on selling, transferring, or encumbering the shares

9. Tax Obligations: Tax implications and responsibilities of both parties

10. Termination of Employment: Impact of employment termination on unvested and vested shares

11. Confidentiality: Obligations regarding confidential information

12. General Provisions: Standard legal provisions including governing law, notices, and amendments

Optional Sections

1. Performance Hurdles: Additional performance-based vesting conditions, used when shares vest based on company or individual performance metrics

2. Change of Control: Provisions for handling shares in case of company sale or merger, included for companies anticipating potential corporate transactions

3. Dividend Rights: Terms regarding dividend entitlements for unvested shares, included when dividends are paid during vesting period

4. Buy-Back Provisions: Company's right to repurchase shares, included for private companies or specific share categories

5. International Participants: Additional provisions for employees in other jurisdictions, used for multinational companies

6. Loan Arrangements: Terms of any company loan to fund share purchase, included when company provides financing

7. Share Trading Policy: Additional trading restrictions, mandatory for listed companies

8. Clawback Provisions: Company's right to recoup shares or benefits in specific circumstances, used in executive arrangements

Suggested Schedules

1. Offer Letter: Formal share offer document including specific details of the offer

2. Acceptance Form: Template for accepting the share offer and agreeing to terms

3. Share Plan Rules: Detailed rules governing the overall employee share scheme

4. Vesting Schedule: Detailed timeline and conditions for share vesting

5. Tax Information: Detailed explanation of tax implications and worked examples

6. Valuation Method: Methodology for determining share value (especially important for unlisted companies)

7. Nominated Beneficiary Form: Form for designating beneficiaries in case of participant's death

8. Restriction Deed: Additional deed regarding trading restrictions and holding locks

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

Manufacturing

Retail

Healthcare

Mining and Resources

Telecommunications

Real Estate

Construction

Education

Media and Entertainment

Relevant Teams

Legal

Human Resources

Finance

Compliance

Corporate Governance

Executive Leadership

Compensation and Benefits

Risk Management

Company Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Human Resources Director

Legal Counsel

Company Secretary

Finance Manager

HR Manager

Compensation and Benefits Manager

Senior Executive

Department Head

General Manager

Employee Relations Manager

Risk Manager

Compliance Officer

Board Member

General Employee

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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