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Advisor Stock Option Agreement

Advisor Stock Option Agreement Template for Pakistan

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Key Requirements PROMPT example:

Advisor Stock Option Agreement

"I need an Advisor Stock Option Agreement for our Pakistan-based fintech startup, granting our technical advisor 5,000 stock options with a 4-year vesting schedule starting March 2025, including special acceleration provisions in case of company acquisition."

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Document background
The Advisor Stock Option Agreement is a crucial document used by Pakistani companies to attract and retain high-quality advisors by offering them the opportunity to acquire ownership in the company through stock options. This agreement is particularly relevant for growing companies seeking strategic guidance and expertise while managing cash flow. The document must comply with Pakistani corporate law, specifically the Companies Act 2017 and SECP regulations, while addressing key aspects such as option grants, vesting schedules, exercise procedures, and tax implications. It's commonly used in scenarios where companies want to align advisors' interests with long-term company success, typically involving professional advisors, industry experts, or strategic consultants who provide valuable guidance to the company's management or board.
Suggested Sections

1. Parties: Identification of the Company and the Advisor, including their full legal names and addresses

2. Background: Context of the advisory relationship and the company's desire to grant stock options as part of the compensation

3. Definitions: Key terms used throughout the agreement including 'Option Shares', 'Exercise Price', 'Vesting Date', etc.

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

5. Vesting Schedule: Timeline and conditions for the vesting of options

6. Exercise of Option: Procedures and conditions for exercising the options, including payment methods and notice requirements

7. Term and Expiration: Duration of the option grant and circumstances of expiration

8. Restrictions on Transfer: Limitations on the advisor's ability to transfer or assign the options

9. Termination of Advisory Relationship: Impact of advisory relationship termination on the options

10. Compliance with Laws: Requirements for compliance with Pakistani securities laws and regulations

11. Tax Matters: Tax obligations and responsibilities of both parties

12. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority

13. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution

Optional Sections

1. Foreign Exchange Compliance: Required when the advisor is non-Pakistani, addressing compliance with foreign exchange regulations

2. Shareholder Rights: Include when the advisor will receive specific rights as a shareholder upon exercise

3. Drag-Along Rights: Include in cases where the company wants to ensure advisor participation in future sale transactions

4. Tag-Along Rights: Include to give the advisor rights to participate in future sale transactions

5. Confidentiality Obligations: Include when not covered in a separate advisory agreement

6. Electronic Execution: Include when the agreement will be executed electronically

7. Change in Control Provisions: Include specific provisions for accelerated vesting in case of company sale or merger

Suggested Schedules

1. Schedule A - Option Details: Detailed breakdown of number of shares, exercise price, and vesting schedule

2. Schedule B - Notice of Exercise: Template form for the advisor to exercise options

3. Schedule C - Vesting Milestones: If applicable, specific performance or time-based milestones for vesting

4. Schedule D - Shareholders Agreement: Summary of or reference to key terms from the company's shareholders agreement

5. Appendix 1 - Board Resolution: Copy of board resolution approving the option grant

6. Appendix 2 - Regulatory Approvals: Copies of any required SECP or other regulatory approvals

7. Appendix 3 - Tax Calculations: Examples of tax calculations and withholding requirements

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
Advisory Services
Agreement
Applicable Law
Board of Directors
Business Day
Cause
Change in Control
Companies Act
Company
Confidential Information
Exercise Notice
Exercise Period
Exercise Price
Expiration Date
Fair Market Value
Grant Date
Initial Public Offering
Option
Option Shares
Parties
Person
SECP
Securities Act
Share Capital
Shareholders Agreement
Shares
Stock Option Plan
Subsidiary
Tax
Term
Transfer
Unvested Options
Vested Options
Vesting Date
Vesting Period
Vesting Schedule
Clauses
Grant of Option
Vesting
Exercise Rights
Transfer Restrictions
Termination
Representations and Warranties
Confidentiality
Non-Competition
Non-Solicitation
Compliance with Laws
Tax Obligations
Share Rights
Change in Control
Drag-Along Rights
Tag-Along Rights
Information Rights
Notices
Assignment
Amendment
Governing Law
Dispute Resolution
Entire Agreement
Severability
Force Majeure
Electronic Execution
Foreign Exchange Compliance
Regulatory Compliance
Shareholder Rights
Exit Rights
Term and Termination
Relevant Industries

Technology

Financial Services

Professional Services

Healthcare

E-commerce

Education Technology

Telecommunications

Manufacturing

Renewable Energy

Biotechnology

Consulting Services

Software Development

Digital Media

Fintech

Relevant Teams

Legal

Human Resources

Finance

Corporate Development

Executive Leadership

Board of Directors

Compliance

Tax

Company Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Corporate Secretary

HR Director

Legal Counsel

Board Member

Strategic Advisor

Technical Advisor

Financial Advisor

Industry Expert

Management Consultant

Corporate Development Officer

Compliance Officer

Tax Director

Industries
Companies Act, 2017: Primary legislation governing company operations in Pakistan, including share capital, issuance of securities, and corporate governance requirements
Securities Act, 2015: Regulates the issuance and trading of securities, including requirements for offering stock options
Income Tax Ordinance, 2001: Governs taxation of stock options, including the timing of taxation and valuation methods for stock option benefits
SECP Employee Stock Option Scheme Rules: Specific regulations governing the implementation and administration of employee stock option schemes in Pakistan
Foreign Exchange Regulation Act, 1947: Regulates foreign exchange transactions and overseas investments, relevant if the advisor is foreign or if shares involve international transfers
Contract Act, 1872: Provides the basic framework for contract formation and enforcement in Pakistan
Companies (Further Issue of Shares) Regulations, 2020: Specific regulations governing the issuance of additional shares and related instruments by companies
Prevention of Electronic Crimes Act, 2016: Relevant for electronic execution of agreements and maintaining electronic records of stock options
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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