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Performance Deed Of Trust

Performance Deed Of Trust Template for Ireland

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Key Requirements PROMPT example:

Performance Deed Of Trust

"I need a Performance Deed of Trust to establish an employee incentive scheme for our senior executives, with performance metrics based on company EBITDA growth and share price performance, to be implemented from January 2025."

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Document background
The Performance Deed of Trust is a sophisticated legal instrument utilized in situations where there is a need to link trust benefits to specific performance metrics or achievements. This document type is particularly relevant in corporate settings, employee benefit schemes, or situations where incentive-based distributions are desired. The deed establishes the trust structure, defines the performance criteria, outlines measurement methodologies, and specifies distribution mechanisms. Under Irish law, it incorporates elements from both trust law and contract law, ensuring compliance with the Trustee Act 1893 and related legislation. The Performance Deed of Trust is commonly used for employee benefit schemes, performance-based incentive programs, sports and entertainment contracts, and other arrangements where trust distributions are contingent upon achieving specified targets or criteria.
Suggested Sections

1. Parties: Identifies and defines the Settlor, Trustee(s), Beneficiaries, and any other relevant parties to the deed

2. Background: Sets out the context and purpose of the trust, including the intention to create a performance-based trust arrangement

3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles

4. Declaration of Trust: Formal declaration establishing the trust and transfer of assets/rights to the trustees

5. Performance Obligations: Detailed description of the performance criteria and obligations that trigger trust benefits

6. Powers and Duties of Trustees: Comprehensive outline of trustees' powers, responsibilities, and limitations

7. Trust Property: Description and details of the property or assets held in trust

8. Distribution of Trust Benefits: Rules and mechanisms for distributing benefits based on performance criteria

9. Performance Monitoring and Reporting: Procedures for monitoring and reporting on performance metrics

10. Duration and Termination: Terms regarding the trust period and circumstances for termination

11. Governing Law and Jurisdiction: Confirms Irish law as governing law and jurisdiction for disputes

Optional Sections

1. Protector Provisions: Include when a trust protector is appointed to provide additional oversight

2. Investment Powers: Detailed investment provisions when the trust involves significant financial assets

3. Change of Trustees: Specific procedures for trustee replacement when enhanced trustee succession planning is required

4. Anti-Money Laundering Provisions: Include for trusts with significant financial transactions or international elements

5. Tax Provisions: Specific tax planning clauses when tax efficiency is a key consideration

6. Dispute Resolution: Alternative dispute resolution procedures when parties prefer alternatives to court proceedings

7. Force Majeure: Include when performance obligations might be affected by external circumstances

8. Confidentiality: Enhanced confidentiality provisions for sensitive trust arrangements

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed inventory and description of initial trust property

2. Schedule 2 - Performance Metrics: Detailed performance criteria, targets, and measurement methodologies

3. Schedule 3 - Distribution Rules: Detailed rules and formulas for calculating and distributing benefits

4. Schedule 4 - Investment Guidelines: Specific investment parameters and restrictions

5. Schedule 5 - Beneficiary Details: Full details of beneficiaries and their respective entitlements

6. Schedule 6 - Trustee Remuneration: Details of trustee fees and expense reimbursement

7. Appendix A - Reporting Templates: Standard forms for performance reporting and monitoring

8. Appendix B - Compliance Certificates: Templates for periodic compliance certification

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Professional Services

Technology

Manufacturing

Real Estate

Healthcare

Education

Entertainment

Sports

Non-Profit Organizations

Energy

Construction

Retail

Relevant Teams

Legal

Human Resources

Finance

Compliance

Risk Management

Corporate Governance

Employee Benefits

Talent Management

Trust Administration

Performance Management

Relevant Roles

Chief Executive Officer

Human Resources Director

Legal Counsel

Trust Administrator

Performance Manager

Compensation and Benefits Manager

Financial Director

Compliance Officer

Risk Manager

Company Secretary

Employee Benefits Coordinator

Talent Management Director

Professional Trustee

Trust Account Manager

Corporate Governance Officer

Industries








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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