Shareholder Resolution (Approve An Employee Share Scheme)
Publisher one
Genie AIJurisdiction
England and WalesRelevant sectors
Type of legal document
📁 Board resolution: share option planBusiness activity
Approve share planA board resolution is a document that is created by the board of directors of a company that outlines a specific action or decision that the board has made. The board resolution share option plan covers the specifics of a share option plan that has been approved by the board, including the number of shares that can be granted, the vesting schedule, and the exercise price.
An employee share scheme, also known as an employee share ownership plan, is a mechanism used by companies to provide their employees with an opportunity to acquire ownership interests in the company. This scheme can prove to be beneficial for both the company and its workforce, promoting employee morale, productivity, and enhancing overall company performance.
The resolution mentioned in this template serves as a formal proposition presented to the shareholders, seeking their consent to implement an employee share scheme. Within this legal document, specific details and terms of the proposed scheme would be outlined, including the number of shares or options to be allocated to employees, the eligibility criteria, vesting conditions, and any other relevant provisions.
For this shareholder resolution to take effect, it generally requires the affirmative vote of the shareholders during a general meeting or through written consent. The approval process involves disclosing the objectives and benefits of the proposed share scheme to the shareholders, addressing any concerns or queries they may have, and seeking their authorization to proceed with its implementation.
It is important to note that this legal template is specific to UK law and should be used within the legal and regulatory framework set forth by the Companies Act 2006 and other relevant legislation governing employee share schemes in the UK. Additionally, it is highly recommended that companies consult with legal professionals who specialize in corporate law or employment law to ensure compliance with all regulatory requirements and to customize the template according to their specific needs.
How it works
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
Book your personalised demo now
Similar legal templates
Software Engineer Contract
This Software Engineer contract template is designed for a commercial software engineering organisation (or an individual software engineer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of software engineering and software-engineering-related services to be completed by the software engineer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the software engineering firm or individual software engineer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
