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Equity Grant Agreement

Equity Grant Agreement Template for Philippines

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Key Requirements PROMPT example:

Equity Grant Agreement

"I need an Equity Grant Agreement under Philippine law for granting 10,000 common shares to our new Chief Technology Officer, with a 4-year vesting schedule starting March 1, 2025, including a 6-month cliff period and standard good/bad leaver provisions."

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Document background
The Equity Grant Agreement serves as a crucial legal instrument in Philippine corporate practice for companies looking to offer equity-based compensation to their employees, directors, or consultants. It is commonly used by startups, growing companies, and established corporations as part of their talent retention and incentivization strategies. The agreement must comply with Philippine corporate law, particularly the Corporation Code and Securities Regulation Code, while addressing specific requirements from the Securities and Exchange Commission (SEC) and Bureau of Internal Revenue (BIR). This document typically details the grant size, vesting schedule, conditions for acceleration or forfeiture, and tax implications. It's essential for companies implementing employee stock option plans (ESOPs) or other equity compensation programs, especially those seeking to align employee interests with company growth objectives while adhering to local regulatory requirements.
Suggested Sections

1. Parties: Identification of the Company and the Grantee, including their complete legal names and addresses

2. Background: Context of the agreement, including reference to any employment relationship, board approval, and shareholder authorizations

3. Definitions: Key terms used throughout the agreement, including 'Shares', 'Grant Date', 'Vesting Date', 'Fair Market Value', etc.

4. Grant of Shares: Details of the equity grant, including number of shares, class of shares, and nominal value

5. Vesting Terms: Vesting schedule, conditions, and circumstances affecting vesting

6. Rights and Restrictions: Voting rights, dividend rights, and any restrictions on transfer or sale of shares

7. Tax Obligations: Treatment of taxes, including withholding requirements and tax responsibilities of both parties

8. Compliance with Laws: Acknowledgment and agreement to comply with relevant Philippine securities laws and regulations

9. Termination Provisions: Effects of employment termination or other events on unvested shares

10. General Provisions: Standard clauses including amendments, governing law, notices, and entire agreement

Optional Sections

1. Foreign Ownership Restrictions: Required when the grantee is a foreign national, addressing compliance with Philippine foreign ownership limitations

2. Lock-up Period: Optional restrictions on share transfers for a specified period, often used for key employees

3. Shareholders' Agreement Compliance: Required when the company has an existing shareholders' agreement that affects new shareholders

4. Clawback Provisions: Optional provisions allowing the company to reclaim shares under specific circumstances

5. Performance Conditions: Additional vesting conditions tied to individual or company performance metrics

6. Tag-Along Rights: Optional rights for the grantee to participate in future sale of company shares

7. Put and Call Options: Optional provisions for share buyback or forced sale under specific circumstances

Suggested Schedules

1. Schedule 1 - Share Details: Detailed description of shares including class, rights, and any special terms attached

2. Schedule 2 - Vesting Schedule: Detailed breakdown of vesting dates and quantities

3. Schedule 3 - Deed of Adherence: Form of deed to be signed by grantee adhering to company's shareholders' agreement if applicable

4. Schedule 4 - Board Resolution: Copy of board resolution approving the equity grant

5. Schedule 5 - SEC Clearance: Any required SEC approvals or exemptions for the share issuance

6. Appendix A - Share Transfer Form: Template for future share transfers

7. Appendix B - Tax Computation Method: Agreed methodology for calculating tax implications of the grant

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions
















































Clauses






























Relevant Industries

Technology and Software

Financial Services

Professional Services

Manufacturing

E-commerce

Healthcare

Telecommunications

Real Estate

Consumer Goods

Startups and Scale-ups

Relevant Teams

Legal

Human Resources

Finance

Executive Leadership

Corporate Secretariat

Compensation and Benefits

Board of Directors

Compliance

Tax

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Human Resources Director

Legal Counsel

Corporate Secretary

Compensation and Benefits Manager

Senior Software Engineer

Department Head

Vice President

Board Member

Executive Director

Senior Manager

Technical Lead

Sales Director

Key Account Manager

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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