The Employee Shareholder Agreement was introduced following the Growth and Infrastructure Act 2013 as a flexible way for companies to offer equity participation to their workforce. This agreement type is particularly useful for growing companies wanting to attract and retain talent while managing their cash flow and fostering employee engagement. The document outlines the terms of share ownership, including voting rights, dividend entitlements, and transfer restrictions, while clearly stating which statutory employment rights are being exchanged for the shares. Under English and Welsh law, the agreement must ensure compliance with minimum share value requirements and include independent legal advice confirmation.
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1. Parties: Identifying details of the company and employee shareholder
2. Background: Context of the agreement and employee shareholder arrangement
3. Definitions: Key terms used throughout the agreement
4. Share Issuance: Details of shares being issued including class, number, and value
5. Employment Status: Confirmation of employee shareholder status and rights waived
6. Share Rights: Voting rights, dividend rights, and other share-related provisions
7. Transfer Restrictions: Limitations on selling or transferring shares
8. Termination Provisions: What happens to shares upon employment termination
1. Tag-Along Rights: Right to join in sale of shares by majority shareholders - used in companies with multiple shareholders where protection for minorities is desired
2. Drag-Along Rights: Obligation to join in sale of shares by majority shareholders - used when company wants to ensure clean exit possibilities
3. Share Vesting: Gradual acquisition of full share rights over time - used when implementing incentive-based share schemes
1. Schedule 1: Share Certificate: Copy of share certificate or form of share certificate
2. Schedule 2: Articles of Association: Relevant excerpts from company's articles affecting these shares
3. Schedule 3: Statement of Rights Waived: Detailed list of employment rights being given up
4. Schedule 4: Valuation Certificate: Independent valuation of shares being issued
5. Appendix A: Share Transfer Form: Template form for future share transfers
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