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Employee Share Agreement

Employee Share Agreement Template for India

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Key Requirements PROMPT example:

Employee Share Agreement

"I need an Employee Share Agreement for our tech startup in Bangalore, covering allocation of 1000 shares to our new CTO with a 4-year vesting period starting March 2025, including standard good/bad leaver provisions and compliance with Indian startup regulations."

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Document background
The Employee Share Agreement is a crucial document used by Indian companies to formalize share-based employee incentives and align employee interests with company growth. This agreement is particularly relevant for startups, growing companies, and established corporations looking to attract and retain talent through equity participation. The document must comply with Indian corporate law, particularly the Companies Act 2013 and SEBI regulations, while addressing practical aspects of share ownership including vesting schedules, transfer restrictions, and tax implications. It's commonly used as part of employee compensation packages, particularly for senior roles or key personnel, and can be customized based on the company's size, structure, and objectives.
Suggested Sections

1. Parties: Identification of the Company and the Employee

2. Background: Context of the agreement and the company's share scheme

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of Shares: Details of the shares being offered, including number, class, and nominal value

5. Purchase Price: Terms of payment for the shares, if applicable

6. Vesting Schedule: Timeline and conditions for share vesting

7. Rights and Restrictions: Voting rights, dividend rights, and transfer restrictions

8. Tax Obligations: Tax implications and responsibilities of both parties

9. Regulatory Compliance: Compliance with SEBI regulations and other applicable laws

10. Termination Provisions: Consequences of employment termination on share ownership

11. Confidentiality: Confidentiality obligations regarding the agreement and company information

12. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction details

13. Notices: Process for serving notices under the agreement

14. General Provisions: Standard boilerplate clauses including amendments, waivers, and severability

Optional Sections

1. Lock-in Period: Additional restrictions on share transfers for a specified period, used when company wants to ensure employee retention

2. Tag-Along Rights: Rights of the employee to join in sale of shares by majority shareholders, included for senior employees

3. Drag-Along Rights: Company's right to force employee to sell shares alongside majority shareholders, used in potential exit scenarios

4. Put and Call Options: Options for the company to buy back shares or employee to sell back shares, included when specific exit mechanisms are desired

5. International Transfer Provisions: Additional provisions for international employees, used when agreement covers non-resident employees

6. Performance Conditions: Specific performance targets linked to share vesting, used in performance-based share schemes

Suggested Schedules

1. Share Details: Detailed description of shares including class rights and restrictions

2. Vesting Schedule: Detailed breakdown of vesting dates and conditions

3. Deed of Adherence: Form of deed to be signed by employee accepting terms of any shareholders' agreement

4. Company Constitution Excerpts: Relevant excerpts from company's articles of association regarding share transfers

5. Tax Illustrations: Examples of tax calculations and implications

6. Share Valuation Methodology: Details of how shares will be valued in various scenarios

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

Manufacturing

Financial Services

Professional Services

Healthcare

Retail

E-commerce

Telecommunications

Real Estate

Construction

Education

Media and Entertainment

Energy

Pharmaceuticals

Consulting

Relevant Teams

Human Resources

Legal

Finance

Executive Leadership

Company Secretarial

Compliance

Corporate Governance

Share Registry

Board Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Technology Officer

Senior Software Engineer

Department Head

Director

Vice President

Senior Manager

Project Manager

Technical Lead

Product Manager

Sales Director

Operations Manager

Research Scientist

Senior Consultant

Principal Engineer

Business Development Manager

Regional 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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