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Stock Option Purchase Agreement

Stock Option Purchase Agreement Template for Ireland

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Key Requirements PROMPT example:

Stock Option Purchase Agreement

"I need a Stock Option Purchase Agreement for our Irish technology startup, granting 10,000 options to a new senior developer with a four-year vesting schedule starting March 2025 and standard good/bad leaver provisions."

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Document background
The Stock Option Purchase Agreement is a crucial document used by Irish companies and multinational corporations operating in Ireland to formalize the grant of stock options to employees, directors, or consultants. It serves as the primary legal instrument for implementing equity compensation programs, which are increasingly important for attracting and retaining talent in competitive sectors. This agreement must comply with Irish corporate law, particularly the Companies Act 2014, as well as relevant tax legislation and financial services regulations. The document typically forms part of a broader equity incentive scheme and includes detailed provisions on option vesting, exercise procedures, and share transfer restrictions. It's particularly relevant for growing companies, especially in the technology and professional services sectors, where equity compensation is a common component of remuneration packages.
Suggested Sections

1. Parties: Identification of the company granting the options and the option recipient

2. Background: Context of the option grant, reference to any employee share option plan, and board approvals

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of Option: Details of the option grant including number of shares, type of shares, and exercise price

5. Vesting Schedule: Timeline and conditions for when options become exercisable

6. Exercise Period: Time frame during which the option may be exercised and conditions for exercise

7. Method of Exercise: Procedures for exercising options, including payment methods and notice requirements

8. Taxation: Tax obligations and responsibilities of both parties under Irish tax law

9. Transferability Restrictions: Limitations on transfer or assignment of the options

10. Termination Provisions: Effect of employment termination on options

11. Compliance with Laws: Requirements for compliance with Irish corporate and securities laws

12. Data Protection: GDPR compliance and data handling provisions

13. Notices: Process for formal communications between parties

14. Governing Law: Specification of Irish law as governing law and jurisdiction

Optional Sections

1. Change in Control Provisions: Provisions dealing with corporate transactions or change in control - include for companies considering potential M&A

2. Lockup Period: Restrictions on selling shares after exercise - include for pre-IPO companies

3. Shareholder Rights: Rights attached to shares post-exercise - include if different from ordinary shares

4. International Compliance: Additional provisions for option holders in multiple jurisdictions - include for multinational companies

5. Clawback Provisions: Provisions for recovering shares or value in specific circumstances - include for senior executives

6. Electronic Exercise Provisions: Procedures for electronic option exercise - include if offering online exercise platform

Suggested Schedules

1. Schedule 1: Option Certificate: Formal certificate detailing the option grant terms

2. Schedule 2: Notice of Exercise: Template form for exercising options

3. Schedule 3: Vesting Schedule Details: Detailed breakdown of vesting dates and conditions

4. Schedule 4: Company's Constitution Excerpts: Relevant sections of the company's constitution regarding shares

5. Appendix A: Tax Summary: Summary of tax implications under Irish law

6. Appendix B: Shareholders' Agreement: Key terms from shareholders' agreement affecting option holders

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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








































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Relevant Industries

Technology

Financial Services

Professional Services

Healthcare

Biotechnology

Manufacturing

E-commerce

Software Development

Consulting

Telecommunications

Pharmaceuticals

Media and Entertainment

Relevant Teams

Legal

Human Resources

Finance

Executive Leadership

Corporate Governance

Compensation and Benefits

Talent Acquisition

Company Secretariat

Compliance

Tax

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

HR Director

Compensation Manager

Legal Counsel

Company Secretary

Finance Director

HR Manager

Equity Compensation Specialist

Corporate Lawyer

Benefits Administrator

Talent Acquisition Manager

Executive Compensation Specialist

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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