Share plan clauses in settlement agreements
Produced in partnership with Sam Whitaker of Shearman & Sterling
Share plan clauses in settlement agreements

The following Share Incentives precedent produced in partnership with Sam Whitaker of Shearman & Sterling provides comprehensive and up to date legal information covering:

  • Share plan clauses in settlement agreements

    1. 1

      Details of Awards

      As at the Termination Date, you hold awards granted to you relating to the shares of [the Company] [name of parent company] under [the Company] [name of parent company]'s employee share plan[s], as follows:

      1. 1.1

        [an award of [number and class] shares subject to option under the [name of share option plan] (the Share Option Plan) granted to you on [date], exercisable at a price of [exercise price] per share (the Option);]

      1. 1.2

        [an award of [number and class] shares under the [name of share plan] (the Share Award Plan) granted to you on [date] (the Award); and]

      1. 1.3

        [insert details of any other option or awards].

    1. 2

      Awards remaining subject to Plan rules

      You acknowledge and agree that the [Option AND/OR Award AND/OR will remain subject to the rules of the [Share Option Plan AND/OR Share Award Plan].

    1. 3

      Lapse of Option/Award

      You acknowledge and agree that, in accordance with rule [insert rule number] of the [Share Option Plan AND/OR Share Award Plan], [the following shares under Option AND/OR Award AND/OR : [insert number of shares under the Option and Award which will lapse] OR the Option AND/OR Award AND/OR , to the extent, at the Termination Date, unvested] [will lapse OR lapsed] automatically on the Termination Date. You hereby waive all and any rights to compensation or damages for the loss of any rights, benefits

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