Board minutes—approving the grant of EMI options pursuant to standalone option agreements
Board minutes—approving the grant of EMI options pursuant to standalone option agreements

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

  • Board minutes—approving the grant of EMI options pursuant to standalone option agreements
  • 1 Notice and quorum
  • 2 Purpose of meeting
  • 3 Directors’ duties and declarations of interest
  • 4 Documents
  • 5 Grant of options
  • 6 Resolutions
  • 7 Close of meeting
  • The Schedule Intended Option grants

[insert name of company whose shares are under option] (the 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

      [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.

    1. 2

      Purpose of meeting

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

      1. 2.1

        the adoption of the [insert name of EMI scheme] (EMI Scheme), and

      1. 2.2

        the grant of options over [insert number and class of shares EMI options are being granted over] shares of £[insert nominal value of shares] each in the capital of the Company (Shares) pursuant to the EMI Scheme (the Options) to employees of the Company (Option Holders) as set out in the attached schedule (the Schedule)

    1. 3

      Directors’ duties and declarations of interest

      1. 3.1

        The directors were rem

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