Board minutes—approving the adoption of an unapproved option plan and the grant of unapproved options
Board minutes—approving the adoption of an unapproved option plan and the grant of unapproved options

The following Share Incentives guidance note provides comprehensive and up to date legal information covering:

  • Board minutes—approving the adoption of an unapproved option plan and the grant of unapproved options
  • [insert name of company adopting the unapproved option plan] (Company)—[insert Company number]
  • The ScheduleIntended Option grants

[insert name of company adopting the unapproved option plan] (Company)—[insert Company number]

Minutes of a meeting of the[ remuneration committee of the] board of directors of the Company held at [insert place of meeting] on [insert date of meeting] at [insert time of meeting].

Present [insert name of director to be Chair] (the Chair)
  [insert names of directors present]
In attendance [insert names of those in attendance]
Apologies [insert names of directors who are unable to attend meeting]
  1. 1

    Notice and quorum

  2. [insert name of Chair] was appointed Chair of the meeting. It was reported that proper notice of the meeting had been given in accordance with the Company's articles of association (Articles) and that a quorum was present. Accordingly, the Chair declared the meeting open.

  3. 2

    Purpose of meeting

    1. The Chair reported that the purpose of the meeting was to consider and, if thought fit, approve:

    2. 2.1

      the adoption of the [insert name of unapproved option plan] (Plan); and

    3. 2.2

      the grant of