Board minutes establishing EBT
Produced in partnership with Jeremy Glover (Share Schemes)

The following Share Incentives precedent produced in partnership with Jeremy Glover (Share Schemes) provides comprehensive and up to date legal information covering:

  • Board minutes establishing EBT
  • 1 Notice and quorum
  • 2 Business of the meeting
  • 3 Declaration of interest
  • 4 Background
  • 5 Documents produced at the meeting
  • 6 The EBT
  • 7 Additional funding
  • 8 Resolutions
  • 9 Close

Board minutes establishing EBT

[insert name of Company]

Company No[ insert registered number of Company]

(the Company)

Minutes of a meeting of the Board of Directors of the Company held at [insert time of meeting] on [insert date of meeting]

In attendance:
Apologies for absence received from:
    1. 1

      Notice and quorum

      1. 1.1

        The Chair reported that due notice of the Meeting had been given, that a quorum of directors was present and the Meeting was therefore duly convened.

    1. 2

      Business of the meeting

      1. 2.1

        The Chair reported that the Meeting had been convened:

        1. 2.1.1

          to consider and, if thought fit, establish a discretionary employee benefit trust to be called the [insert name of EBT] (the EBT) and appoint [insert name of Trustee] as trustee of the EBT (the Trustee) and to enter into a trust deed with the Trustee in order to specify the terms of and give effect to the EBT (the Trust Deed);

        1. 2.1.2

          to approve a proposal to confer authority on [insert name of director] and [insert name of director] to liaise with and make recommendations to the Trustee as regards the wishes of the Company in respect of the EBT; [and]

        1. 2.1.3

          [to execute an operating agreement to manage the relationship between the Company and the Trustee (the Operating Agreement); and]

        1. 2.1.4


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