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Share Option Agreement

Share Option Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Share Option Agreement

"I need a Share Option Agreement for our Saudi Arabian technology startup, granting options to senior developers with a 4-year vesting period and a one-year cliff, exercisable at SAR 100 per share, with specific provisions for remote workers."

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Document background
The Share Option Agreement is a crucial document used in Saudi Arabian companies to implement equity-based compensation programs and align employee interests with company success. It serves as the legal framework for granting employees or executives the right to purchase company shares at a predetermined price, typically as part of their compensation package or incentive structure. The agreement must comply with Saudi Arabian regulations, including the Companies Law, Capital Market Authority regulations, and where applicable, Shariah principles. This document is particularly important for companies looking to attract and retain key talent, especially in competitive sectors. It includes essential details such as vesting schedules, exercise procedures, treatment of options upon employment termination, and various regulatory compliance requirements specific to the Saudi Arabian jurisdiction.
Suggested Sections

1. Parties: Identification of the Company and the Option Holder

2. Background: Context of the option grant and relationship between parties

3. Definitions: Key terms used throughout the agreement

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

5. Vesting Schedule: Timeline and conditions for option vesting

6. Exercise of Option: Procedure and conditions for exercising the option

7. Exercise Price: Specification of the price per share and payment terms

8. Term of Option: Duration of the option and expiration conditions

9. Termination of Employment: Impact of employment termination on options

10. Transferability: Restrictions on transfer of options

11. Adjustments: Provisions for corporate events affecting share capital

12. Compliance with Laws: Obligations to comply with Saudi regulations

13. Notices: Communication procedures between parties

14. Governing Law: Application of Saudi law and jurisdiction

Optional Sections

1. Tax Provisions: Specific tax implications and obligations - include if tax considerations are relevant

2. Shariah Compliance: Additional provisions ensuring compliance with Islamic law - include if required by company policy

3. Change of Control: Special provisions for company acquisition or merger - include for senior executives

4. Non-Competition: Restrictions on competitive activities - include for senior positions

5. Foreign Ownership Restrictions: Special provisions for non-Saudi option holders - include for foreign employees

6. Clawback Provisions: Recovery of benefits in specific circumstances - include for executive agreements

7. Data Protection: Handling of personal data - include if personal data processing is involved

Suggested Schedules

1. Option Certificate: Formal document evidencing the grant of options

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

3. Exercise Notice: Form for exercising options

4. Deed of Adherence: Form binding option holder to shareholders' agreement if applicable

5. Company's Articles of Association: Current articles showing share capital structure

6. Shareholders' Agreement: Summary of relevant provisions from shareholders' agreement

7. Tax Calculations: Example calculations of tax implications

8. Corporate Approvals: Copies of relevant board and shareholder resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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

Manufacturing

Telecommunications

Real Estate

Retail

Energy

Construction

Education

Consulting

Relevant Teams

Legal

Human Resources

Finance

Executive Leadership

Board of Directors

Company Secretariat

Compensation & Benefits

Corporate Governance

Compliance

Employee Relations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Department Director

Senior Manager

Technical Lead

Software Engineer

Sales Executive

Human Resources Director

Legal Counsel

Company Secretary

Board Member

Regional Manager

Product Manager

Research Scientist

Investment Analyst

Business Development 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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