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Share Option Agreement

Share Option Agreement Template for Ireland

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Key Requirements PROMPT example:

Share Option Agreement

"I need a Share Option Agreement for our Irish technology startup, granting options to our new CTO with a 4-year vesting period starting March 2025, including specific provisions for an anticipated IPO within the next 3 years."

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Document background
The Share Option Agreement is a crucial document used by Irish companies to provide equity incentives to employees, directors, or consultants. It serves as a key tool for attracting and retaining talent by offering the opportunity to share in the company's future success. The agreement must be carefully drafted to comply with Irish corporate law, particularly the Companies Act 2014 and the Taxes Consolidation Act 1997, while also addressing practical considerations such as vesting schedules, exercise procedures, and various trigger events. This document typically forms part of a broader equity compensation strategy and may be used in conjunction with a formal share option plan. The agreement needs to address specific Irish tax implications, including potential qualification for tax-advantaged treatment, and should include appropriate provisions for data protection compliance under GDPR.
Suggested Sections

1. Parties: Identification of the Company granting the options and the Option holder

2. Background: Context of the option grant, reference to any share option plan or scheme

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Grant of Option: Details of the option grant including number of shares, exercise price, and grant date

5. Exercise Period: Time period during which the option may be exercised

6. Vesting Conditions: Schedule and conditions for option vesting

7. Method of Exercise: Procedure for exercising options, including payment requirements

8. Lapse of Options: Circumstances under which options will lapse or be forfeited

9. Taxation: Tax obligations and responsibilities of the parties

10. Compliance with Laws: Requirements for compliance with Irish company law and regulations

11. Transferability: Restrictions on transfer or assignment of options

12. Data Protection: GDPR compliance and data processing provisions

13. Notices: Process for giving notices under the agreement

14. Governing Law and Jurisdiction: Irish law as governing law and jurisdiction provisions

Optional Sections

1. Change of Control: Provisions dealing with company sale or merger - include if company anticipates potential M&A activity

2. Malus and Clawback: Provisions allowing company to recoup options in case of misconduct - include for senior executives

3. Performance Conditions: Specific performance targets linked to vesting - include if options are performance-based

4. International Provisions: Additional terms for non-Irish residents - include if option holder is based outside Ireland

5. Good/Bad Leaver Provisions: Different treatment based on circumstances of employment termination - include if tied to employment

6. Share Capital Adjustments: Provisions for adjusting options following capital events - include if company anticipates corporate actions

Suggested Schedules

1. Schedule 1 - Option Certificate: Formal certificate detailing the option grant

2. Schedule 2 - Exercise Notice: Form for exercising options

3. Schedule 3 - Vesting Schedule: Detailed breakdown of vesting dates and conditions

4. Schedule 4 - Tax Calculation Example: Illustrative example of tax treatment on exercise

5. Schedule 5 - Articles of Association Extracts: Relevant provisions from company's articles affecting option shares

6. Appendix A - Share Option Plan Rules: If options are granted under a plan, include full plan rules

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Technology

Financial Services

Professional Services

Healthcare

Biotechnology

Software Development

E-commerce

Manufacturing

Telecommunications

Consulting

Start-ups

Scale-ups

Relevant Teams

Legal

Human Resources

Finance

Tax

Corporate Governance

Executive Management

Company Secretariat

Compensation & Benefits

Talent Acquisition

Board of Directors

Relevant Roles

CEO

CFO

HR Director

General Counsel

Company Secretary

Compensation Manager

Tax Manager

Employee Benefits Manager

Legal Counsel

HR Business Partner

Finance Director

Board Member

Chief People Officer

Equity Compensation Specialist

Corporate Governance Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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