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Employee Ownership Trust Deed

Employee Ownership Trust Deed Template for Ireland

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Key Requirements PROMPT example:

Employee Ownership Trust Deed

"I need an Employee Ownership Trust Deed for my technology consulting company with 50 employees, where we want to transfer 75% of company shares to employee ownership while retaining 25% for the founding shareholders, with completion planned for March 2025."

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Document background
The Employee Ownership Trust Deed is a crucial legal instrument used when a company transitions to employee ownership in Ireland. It's typically implemented when business owners want to secure their company's independence and foster employee engagement through collective ownership. The deed establishes the trust structure, complying with Irish trust law and tax legislation, and includes detailed provisions for trust governance, share ownership, beneficiary rights, and distribution mechanisms. This document is essential for companies of any size pursuing employee ownership, particularly those seeking to ensure long-term sustainability and employee participation in company success. The EOT Deed must carefully balance the interests of all stakeholders while maintaining compliance with relevant Irish regulatory requirements and best practices in employee ownership structures.
Suggested Sections

1. Parties: Identifies the settlor (typically the company or selling shareholders), the trustees, and the company

2. Background: Sets out the context and purpose of establishing the EOT, including the company's intention to create employee ownership structure

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

4. Declaration of Trust: Formal establishment of the trust and initial settlement

5. Purpose of the Trust: Defines the primary purpose of promoting employee ownership and benefiting employees

6. Beneficiaries: Defines eligible employees and their qualification criteria

7. Trustee Powers and Duties: Comprehensive list of trustees' powers and responsibilities

8. Appointment and Retirement of Trustees: Process for appointing new trustees and handling trustee retirement or removal

9. Decision Making: Procedures for trustee decision-making and voting

10. Benefits Distribution: Rules governing how and when benefits are distributed to beneficiaries

11. Administrative Provisions: Day-to-day management of the trust including record-keeping requirements

12. Amendment Powers: Circumstances and procedures for amending the trust deed

13. Duration and Termination: Trust period and circumstances for termination

Optional Sections

1. Corporate Trustee Provisions: Additional provisions specific to corporate trustees, used when a corporate entity acts as trustee

2. Multiple Share Classes: Required when the company has different share classes with varying rights

3. International Operations: Additional provisions for companies with international employees or operations

4. Qualifying Conditions: Specific conditions for tax qualification, if seeking particular tax treatment

5. Employee Council: Provisions for establishing and operating an employee council to represent beneficiaries

6. Voting Pool Arrangements: Special provisions for managing voting rights attached to trust shares

7. Founder's Rights: Special provisions preserving certain rights for company founders, if required

Suggested Schedules

1. Initial Fund: Details of initial trust property and any contributions

2. Trustee Remuneration: Schedule of trustee fees and expenses

3. Beneficiary Points System: Detailed system for calculating benefit entitlements

4. Trustee Meeting Procedures: Detailed procedures for conducting trustee meetings

5. Qualifying Employee Criteria: Detailed criteria for employee qualification as beneficiaries

6. Distribution Rules: Detailed rules and formulas for calculating distributions

7. Deed of Adherence: Template for new trustees joining the trust

8. Share Valuation Methodology: Agreed methodology for valuing company shares

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
Relevant legal definitions















































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Relevant Industries

Professional Services

Manufacturing

Technology

Consulting

Architecture

Engineering

Retail

Healthcare

Construction

Financial Services

Media and Communications

Education and Training

Software Development

Creative Industries

Relevant Teams

Legal

Human Resources

Finance

Board of Directors

Executive Leadership

Compliance

Company Secretariat

Employee Representatives

Trust Administration

Corporate Governance

Relevant Roles

Chief Executive Officer

Managing Director

Finance Director

Human Resources Director

Company Secretary

Legal Counsel

Chief Financial Officer

Trust Administrator

Employee Trustee

Corporate Trustee Director

HR Manager

Finance Manager

Compliance Officer

Board Director

Employee Representative

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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