The Stock Grant Agreement serves as a fundamental instrument in Canadian corporate practice for companies looking to provide equity-based compensation to their employees, directors, or consultants. This document is essential when a company wishes to grant actual shares (rather than options or other equity instruments) to individuals, typically as part of compensation packages, retention strategies, or performance incentives. The agreement must comply with various Canadian regulatory requirements, including provincial securities laws, federal and provincial tax regulations, and corporate law requirements. It's commonly used by both private and public companies across Canada, though the specific terms and conditions may vary based on the company's size, structure, and jurisdiction of incorporation. The Stock Grant Agreement typically includes detailed provisions about vesting schedules, transfer restrictions, shareholder rights, and tax implications, making it a crucial document for both the issuing company and the share recipient.
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1. Parties: Identification of the company issuing the shares and the recipient (grantee)
2. Background: Context of the stock grant, including the company's stock plan (if any) and authority to issue shares
3. Definitions: Key terms used throughout the agreement including 'Shares', 'Grant Date', 'Vesting Date', etc.
4. Grant of Shares: Details of the stock grant including number of shares, class of shares, and grant date
5. Vesting Provisions: Vesting schedule, conditions, and requirements for the shares to become fully owned by the grantee
6. Regulatory Compliance: Statements ensuring compliance with applicable securities laws and regulations
7. Tax Matters: Tax obligations, responsibilities, and acknowledgments by both parties
8. Rights as Shareholder: Description of voting rights, dividend rights, and other shareholder privileges
9. Restrictions on Transfer: Limitations on selling, transferring, or encumbering the shares
10. Representations and Warranties: Statements by both parties regarding their authority, compliance, and understanding
11. General Provisions: Standard legal provisions including notices, amendments, governing law, and entire agreement
1. Employment Relationship: Section addressing the relationship between the stock grant and employment status, used when grant is part of employment compensation
2. Change of Control Provisions: Provisions addressing what happens to unvested shares in case of company sale or merger, used for private companies or when specifically requested
3. Drag-Along Rights: Provisions requiring grantee to sell shares in case of company sale, typically used for private companies
4. Tag-Along Rights: Rights allowing grantee to participate in sale of shares by major shareholders, typically used for private companies
5. Right of First Refusal: Company's right to purchase shares before they can be sold to third parties, used for private companies
6. Repurchase Rights: Company's right to repurchase shares under certain conditions, used when company wants to maintain control over share ownership
7. Non-Competition and Confidentiality: Additional restrictions on grantee's activities, used when grant is part of employment or service relationship
1. Schedule A - Share Details: Detailed information about the granted shares including certificate numbers, class of shares, and any special rights or restrictions
2. Schedule B - Vesting Schedule: Detailed breakdown of vesting dates and conditions
3. Schedule C - Shareholder Agreement: Copy or summary of relevant provisions from the company's shareholder agreement
4. Schedule D - Stock Plan: Summary or copy of the company's stock plan under which the grant is made, if applicable
5. Appendix A - Tax Election Forms: Forms required for tax elections, including Section 85(1) election forms if applicable
6. Appendix B - Consent Forms: Required regulatory or corporate consents and approvals
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Professional Services
Healthcare
Manufacturing
Real Estate
Energy
Mining
Telecommunications
Biotechnology
Software
Consulting
Retail
E-commerce
Relevant Teams
Legal
Human Resources
Finance
Executive Leadership
Board of Directors
Compensation
Corporate Governance
Treasury
Investor Relations
Tax
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Senior Vice President
Vice President
Director
Senior Manager
Board Member
Executive Director
General Counsel
Corporate Secretary
Human Resources Director
Compensation Specialist
Legal Counsel
Finance Manager
Employee
Consultant
Independent Contractor
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