All Templates
Award phantom shares
💷 Acceptance notice
LTIP Acceptance Notice (Phantom And Cash-Settled Appreciation Rights)
LTIP Acceptance Notice (Phantom And Cash-Settled Appreciation Rights)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💷 Acceptance noticeBusiness activity
Award phantom sharesThe LTIP (Long-Term Incentive Plan) Acceptance Notice (Phantom And Cash-Settled Appreciation Rights) under UK law is a legal template that pertains to the acceptance of a specific type of compensation arrangement offered to employees or executives as part of a company's LTIP.
LTIPs are typically designed to align the long-term financial interests of employees with the success and growth of the company. In this specific case, the LTIP involves the allocation of Phantom and Cash-Settled Appreciation Rights (PSARs & CSARs) to the eligible participants.
Phantom Appreciation Rights are a type of incentive that give participants the right to receive an amount in cash equal to the increase in the value of a specified number of company shares over a predetermined period. Cash-Settled Appreciation Rights, on the other hand, offer similar benefits but are settled in cash rather than stock.
This legal template serves as a formal notice or agreement between the company and the eligible employee, clearly outlining the terms and conditions of the awarded PSARs and CSARs. It covers various important aspects including the vesting period, performance-based conditions, exercise price, and potential dilution, as well as any restrictive or non-compete covenants that may be imposed.
Under UK law, certain legal requirements must be met to ensure the validity and enforceability of LTIPs, including compliance with employment and tax regulations. This template, specifically tailored to the UK legal framework, helps formalize the acceptance of PSARs and CSARs, ensuring that both the company and the participating employee are aware of their respective rights and obligations.
Overall, this legal template serves as a comprehensive instrument to cement the agreement between the company and its employee regarding the allocation and acceptance of Phantom and Cash-Settled Appreciation Rights within the context of the company's LTIP, while adhering to the specific legal requirements mandated by the UK jurisdiction.
LTIPs are typically designed to align the long-term financial interests of employees with the success and growth of the company. In this specific case, the LTIP involves the allocation of Phantom and Cash-Settled Appreciation Rights (PSARs & CSARs) to the eligible participants.
Phantom Appreciation Rights are a type of incentive that give participants the right to receive an amount in cash equal to the increase in the value of a specified number of company shares over a predetermined period. Cash-Settled Appreciation Rights, on the other hand, offer similar benefits but are settled in cash rather than stock.
This legal template serves as a formal notice or agreement between the company and the eligible employee, clearly outlining the terms and conditions of the awarded PSARs and CSARs. It covers various important aspects including the vesting period, performance-based conditions, exercise price, and potential dilution, as well as any restrictive or non-compete covenants that may be imposed.
Under UK law, certain legal requirements must be met to ensure the validity and enforceability of LTIPs, including compliance with employment and tax regulations. This template, specifically tailored to the UK legal framework, helps formalize the acceptance of PSARs and CSARs, ensuring that both the company and the participating employee are aware of their respective rights and obligations.
Overall, this legal template serves as a comprehensive instrument to cement the agreement between the company and its employee regarding the allocation and acceptance of Phantom and Cash-Settled Appreciation Rights within the context of the company's LTIP, while adhering to the specific legal requirements mandated by the UK jurisdiction.
How it works
Create doc / use template
Chat to our AI Legal Assistant
Edit, collaborate & share
Export to .docx
PRODUCT HUNT
#1 Product of the Day
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
See Genie AI in action
Book your personalised demo now
Schedule a live, interactive demo with a Genie expert
Understand the most valuable features of Genie based on your workflow
Find out exactly how your business will benefit, from hours saved to faster revenue
Similar legal templates
Time and Performance Based Employee Share Option Grant (Non Tax-Advantaged)
This legal template refers to a contractual agreement between an employer and an employee that grants the employee the option to purchase company shares at a predetermined price within a specified timeframe. The grant of these employee share options is specifically designed to incentivize and reward employees based on their performance and the length of their employment. This template is applicable in the United Kingdom and does not provide any tax advantages to the employee. It includes provisions outlining the terms and conditions of the share option grant, including the grant date, exercise price, vesting schedule, and any applicable restrictions or performance criteria. The template also includes provisions related to termination of employment and the treatment of unexercised share options in such cases. Overall, this legal template is intended to provide a framework for implementing a performance-based share option scheme for employees under UK law.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
4
RATINGS
2
DISCUSSIONS
2
TUPE Change of Employer Notice Due To Intra-group Reorganisation
This legal template pertains to the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) in the United Kingdom. Specifically, it focuses on the process of notifying employees about a change of employer due to an intra-group reorganization.
An intra-group reorganization typically occurs when there is a restructuring within a group of companies, where businesses are moved or consolidated under a different legal entity within the same group. This template covers the legal requirements and necessary steps to inform affected employees about such an organizational change.
The template likely provides a framework for drafting a formal written notice to be sent to employees. It outlines the relevant details of the transfer, including the current employer, the proposed new employer, and the effective date of the transfer. Additionally, the template may address the employees' rights and protections under TUPE, ensuring that they are not disadvantaged by the transfer and their existing terms and conditions of employment are preserved.
This template serves as a practical tool for employers or legal professionals to comply with the legal obligations imposed by TUPE when informing employees of an intra-group reorganization. It helps ensure transparency, efficiency, and compliance throughout the transfer process, thereby safeguarding employees' rights and maintaining a smooth transition of employment.
An intra-group reorganization typically occurs when there is a restructuring within a group of companies, where businesses are moved or consolidated under a different legal entity within the same group. This template covers the legal requirements and necessary steps to inform affected employees about such an organizational change.
The template likely provides a framework for drafting a formal written notice to be sent to employees. It outlines the relevant details of the transfer, including the current employer, the proposed new employer, and the effective date of the transfer. Additionally, the template may address the employees' rights and protections under TUPE, ensuring that they are not disadvantaged by the transfer and their existing terms and conditions of employment are preserved.
This template serves as a practical tool for employers or legal professionals to comply with the legal obligations imposed by TUPE when informing employees of an intra-group reorganization. It helps ensure transparency, efficiency, and compliance throughout the transfer process, thereby safeguarding employees' rights and maintaining a smooth transition of employment.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
5
RATINGS
0
DISCUSSIONS
0
TUPE Employee Provisions for Asset Purchase Agreement
This legal template pertains to the Employee Provisions section of an Asset Purchase Agreement under UK law, specifically focusing on the Transfer of Undertakings (Protection of Employment) Regulations (TUPE). TUPE regulations aim to safeguard the rights and benefits of employees when their employer undergoes a change in ownership or a transfer of business assets. This template would outline the necessary provisions and obligations that both the buyer (the new employer) and the seller (the previous employer) must adhere to in order to comply with TUPE regulations. It would cover areas like employee transfer, continuity of employment, collective bargaining agreements, redundancy procedures, consultation requirements, employee rights and protections, and any other relevant aspects of the transfer process.
Read More
Publisher
Genie AIJurisdiction
England and WalesTEMPLATE
USED BY
2
RATINGS
0
DISCUSSIONS
1
