SAYE share option scheme rules
Produced in partnership with Ian Murphie of Share Plan Partners Ltd

The following Share Incentives precedent produced in partnership with Ian Murphie of Share Plan Partners Ltd provides comprehensive and up to date legal information covering:

  • SAYE share option scheme rules

SAYE share option scheme rules

[Approved by resolution of the shareholders on [insert date of shareholder approval]]

Adopted by the Directors on [insert date of board resolution]

Registered with HM Revenue & Customs on [insert date] under number [insert HMRC registration number]

Contents

1. Definitions

2. Invitations and applications to apply for options

3. Scaling down

4. Grant of options

5. Limitations on grants

6. Exercise and lapse of options

7. Takeovers and liquidations

8. Variation of share capital

9. Manner of exercise of options

10. Relationship with contract of employment

11. Administration and amendment

12. Personal data

13. Third party rights

14. Termination of the scheme

15. GOVERNING LAW AND Jurisdiction

    1. 1

      Definitions

      [Admission Date

      1. is [insert date]]

      Adoption Date

      1. means the date of adoption of the Scheme by the Directors;

      Appropriate Period

      1. is the period determined in accordance with paragraph 38(3) of Schedule 3;

      Associated Company

      1. has the meaning given in paragraph 47 of Schedule 3;

      Bonus Date

      1. means the earliest date on which a bonus is payable:

        1. (a)

          under a three-year Savings Contract, following 36 monthly payments, or

        2. (b)

          under a five-year Savings Contract, following 60 monthly payments;

      Bound or Entitled

      1. means bound or entitled to acquire shares in the Company under sections 979 to 982 or 983 to 985 of CA 2006 (takeover offers: right of offer or to buy out minority interest etc);

      CA 2006

      1. means the Companies Act 2006

      Company

      1. [insert name of

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