Nil paid or partly-paid share subscription agreement
Nil paid or partly-paid share subscription agreement

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

  • Nil paid or partly-paid share subscription agreement
  • Background:
  • 1 Definitions and interpretation
  • 2 Subscription
  • 3 Share transfers
  • 4 Payment of Outstanding Subscription Price
  • 5 Cessation
  • 6 Variation of share capital
  • 7 No relationship with contract of employment
  • 8 Liability
  • More...

If you are in any doubt about this agreement and the action you should take, it is recommended that you immediately seek your own personal independent financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) if you are resident in the UK or, if not, from another appropriately authorised independent financial adviser in the relevant jurisdiction.

[insert Company Name] Share Award

Parties:

  1. 1

    [insert Company Name], CRN [insert company number], (the ‘Company’) the registered office of which is at [insert address] and

  1. 2

    [Individual Name] of [insert address] (the ‘Subscriber’);

together, the ‘Parties’.

Background:

The Company has offered and the Subscriber wishes to accept an opportunity to subscribe for Shares on the terms set out in this Agreement. [This award has been approved by the Company at a meeting of the Directors dated [insert date].]

The Parties HEREBY AGREE as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this Agreement, except where the context otherwise requires, the words and expressions set out below will bear the following meanings, namely:

        Actual Market Value

        1. means, on any day, the market value of a Share determined in accordance with the provisions of Part VIII of the Taxation of Chargeable Gains Act 1992

        Acting in Concert

        1. has the meaning given in the City Code on Takeovers and Mergers as in

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