Letter to trustees of EBT—notification of vesting of awards

Produced in partnership with Jeremy Glover (Share Schemes)
Precedents

Letter to trustees of EBT—notification of vesting of awards

Produced in partnership with Jeremy Glover (Share Schemes)

Precedents
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[insert full name of Trustee]

as trustee of the

[insert full name of the Employee benefit Trust]

[insert full address of Trustee]

[insert date of letter]

Dear trustee(s)

[insert name of the employee benefit trust] (the EBT)

We are writing to you in your capacity as trustee of the EBT (Trustee). We refer to the following documents:

  1. the trust deed establishing the EBT dated [insert date of trust deed] executed by you as Trustee and [insert name of settlor of EBT] (the Company and the Trust Deed);

  2. the rules of the [insert name of share plan] (the Share Plan);[ and]

  3. [the operating agreement dated [insert date of operating agreement] executed

Jeremy Glover (Share Schemes)
Jeremy Glover (Share Schemes)


Jeremy is a senior incentives lawyer who has over 18 years' experience advising businesses on their employee and executive incentives and share plans. Jeremy's practice focuses on the field of remuneration, executive pay, employee share plans and management buyouts. Jeremy advises a broad range of clients including multinationals, quoted companies, privately owned companies (family, owner-managed businesses, venture capital backed and private equity backed). He also provides specialist expert advice to other professional advisers such as accountants, tax advisers and remuneration consultants for their clients. Jeremy has worked in private practice and in-house and enjoys advising clients using the benefit of both perspectives. Jeremy used to head up the incentives practices at Reed Smith LLP, Stephenson Harwood LLP and the Entrepreneurial Group at EY in London. Jeremy is now a senior consultant to a number of law and accounting firms including Reed Smith LLP, PWT Advice LLP and Jurit LLP. Jeremy is also the CEO of start-up 6S Infinity LLP which, inter alia, provides legal documentation services. Jeremy has a first class LLB from Exeter University and a first class MBA from Cass Business School.

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Jurisdiction(s):
United Kingdom
Key definition:
Trust definition
What does Trust mean?

An equitable obligation (ie a duty imposed by the law of equity), binding the trustee to deal with property over which he has control (the trust property), for the benefit of persons (the beneficiaries), of whom the trustee may be one, and any one of whom may enforce the obligation.

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