LTIP Award Certificate (Phantom And Cash-Settled Share Appreciation Rights)
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Genie AISource file
ltip_award_certificate_(phantom_and_cash-settled_share_appreciation_rights)_template.docxJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💴 Award certificateBusiness activity
Grant phantom sharesAn award certificate is a document that outlines the terms of an agreement between an employer and an employee. It covers the wages and conditions of employment, and any other relevant information.
Phantom and cash-settled share appreciation rights are commonly used as part of LTIPs to motivate and reward employees based on the performance and growth of the company's stock value. Unlike traditional stock options or grants, these rights do not provide actual ownership of shares but rather a monetary equivalent tied to the share price.
The template serves as a comprehensive document that outlines the terms and conditions of the LTIP award, ensuring clarity and transparency for both parties involved. It covers crucial elements such as the identification of the employee receiving the award, the specific terms and duration of the LTIP, the calculation and settlement of cash payments upon fulfillment of the agreed-upon performance conditions, and any additional provisions required by UK law.
Furthermore, the template may also address other important considerations, including vesting periods, treatment of awards in case of employee termination, and potential clawback provisions to protect the employer's interests in unforeseen circumstances.
Overall, this legal template for LTIP Award Certificate (Phantom and Cash-Settled Share Appreciation Rights) under UK law establishes a framework for employers to effectively grant employees financial incentives based on the performance of company stock, promoting growth, motivation, and alignment of interests between the employer and employees.
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