Q&As

What is the procedure for terminating a share incentive plan (SIP)?

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Published on LexisPSL on 06/08/2018

The following Share Incentives Q&A provides comprehensive and up to date legal information covering:

  • What is the procedure for terminating a share incentive plan (SIP)?

What is the procedure for terminating a share incentive plan (SIP)?

If a company wishes to terminate its Schedule 2 share incentive plan (SIP) before the term of the plan trust has expired, it may do so if:

  1. the trust deed and rules allow it to under any circumstances specified in the plan

  2. it issues a plan termination notice to the trustees and all individuals who hold plan shares and/or who have entered into a partnership agreement which was in force immediately before any notice to terminate the SIP was issued, and

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