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Employee Equity Agreement

Employee Equity Agreement Template for Ireland

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Key Requirements PROMPT example:

Employee Equity Agreement

"Need an Employee Equity Agreement under Irish law for our Series B startup, offering RSUs with a 4-year vesting schedule starting March 2025, including specific provisions for remote workers in the EU."

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Document background
The Employee Equity Agreement is a crucial document for companies in Ireland looking to provide equity-based compensation to their employees as part of their overall remuneration package. This agreement is particularly relevant for companies seeking to attract and retain talent by offering ownership stakes, commonly used by start-ups, scale-ups, and established companies across various sectors. The document must comply with Irish company law, tax legislation, and EU regulations, including specific requirements under the Companies Act 2014 and relevant Revenue guidelines for employee share schemes. It typically forms part of a broader equity incentive program and needs to be carefully structured to address both current requirements and potential future scenarios such as exits or public listings.
Suggested Sections

1. Parties: Identification of the employer company and the employee receiving equity rights

2. Background: Context of the agreement, including reference to employment relationship and equity incentive plan

3. Definitions: Key terms used throughout the agreement, including specific equity-related terminology

4. Grant of Equity Awards: Details of the type and amount of equity being granted

5. Vesting Schedule: Timing and conditions for vesting of equity awards

6. Exercise Terms: Procedures and conditions for exercising equity rights

7. Tax Obligations: Employee and employer tax responsibilities and implications

8. Restrictions on Transfer: Limitations on selling or transferring equity awards

9. Termination Provisions: Impact of employment termination on equity rights

10. Compliance with Laws: Requirements for compliance with relevant securities and employment laws

11. Data Protection: Handling of personal data in accordance with GDPR

12. Governing Law: Specification of Irish law as governing law

Optional Sections

1. Change of Control Provisions: Used when specific provisions are needed for company sale or merger scenarios

2. Malus and Clawback: Include when company wants right to recoup or cancel awards in cases of misconduct

3. International Tax Provisions: Required for employees who may move between jurisdictions

4. Lock-up Period: Include for pre-IPO companies or when specific holding periods are required

5. Tag-Along Rights: Include for private companies to protect minority shareholders

6. Drag-Along Rights: Include when majority shareholders may need to force sale participation

7. Good/Bad Leaver Provisions: Include when different treatment is desired based on reason for employment termination

Suggested Schedules

1. Schedule 1: Equity Incentive Plan: Full terms of the company's equity incentive plan

2. Schedule 2: Grant Notice: Specific details of individual grant including number of shares/options and price

3. Schedule 3: Vesting Schedule: Detailed breakdown of vesting dates and quantities

4. Schedule 4: Exercise Form: Template form for exercising equity rights

5. Schedule 5: Section 128D Tax Election Form: Required Irish Revenue form for certain equity schemes

6. Appendix A: Shareholders' Agreement Extract: Relevant provisions from company's shareholders' agreement

7. Appendix B: Company Constitution Extract: Relevant provisions from company's constitution regarding share rights

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Clauses
Grant of Equity
Vesting
Exercise Rights
Transfer Restrictions
Taxation
Termination
Confidentiality
Data Protection
Representations and Warranties
Compliance with Laws
Competition Restrictions
Share Rights
Drag-Along Rights
Tag-Along Rights
Change of Control
Malus and Clawback
Notices
Assignment
Amendment
Entire Agreement
Severability
Waiver
Governing Law
Dispute Resolution
Third Party Rights
Good/Bad Leaver Provisions
Lock-up Obligations
Shareholder Rights
Share Certificate Issuance
Information Rights
Exit Provisions
Costs and Expenses
Further Assurance
Relevant Industries

Technology

Financial Services

Professional Services

Biotechnology

Pharmaceutical

Software Development

E-commerce

Consulting

Healthcare Technology

Clean Technology

Digital Media

Telecommunications

Fintech

Start-ups

Scale-ups

Relevant Teams

Legal

Human Resources

Finance

Executive Leadership

Board of Directors

Company Secretariat

Compensation and Benefits

Stock Administration

Payroll

Corporate Governance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Technology Officer

Senior Software Engineer

Product Manager

Sales Director

Marketing Manager

Human Resources Director

Legal Counsel

Finance Manager

Operations Director

Research Scientist

Business Development Manager

Technical Lead

Department Head

Vice President

Senior Manager

Principal Engineer

Industries
Companies Act 2014: Primary legislation governing corporate entities in Ireland, including share capital, share transfers, and shareholder rights
Taxes Consolidation Act 1997: Covers taxation of share-based remuneration and treatment of employee share schemes, including Revenue-approved schemes
Employment Rights Act 2015: Establishes basic employment rights and protections that must be considered when structuring equity compensation
EU General Data Protection Regulation (GDPR): Regulates the processing of personal data, relevant for employee information handling in equity agreements
Central Bank of Ireland Investment Regulations: Relevant for ensuring compliance with financial regulations regarding employee share schemes
Finance Act (Various Years): Annual updates to tax legislation that may affect treatment of employee equity, including specific provisions for share options and RSUs
Terms of Employment (Information) Acts 1994-2014: Requires specific information to be provided to employees, including terms relating to remuneration and benefits
Market Abuse Regulation (EU) No 596/2014: Relevant for listed companies, governing insider trading and market manipulation aspects of employee share ownership
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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