The Restricted Stock Unit Agreement serves as a crucial document for companies in New Zealand looking to provide equity-based compensation to their employees or other eligible recipients. This agreement is typically used as part of a broader equity incentive plan, allowing companies to grant RSUs that convert to actual shares upon meeting specific vesting conditions. The document must comply with New Zealand's Financial Markets Conduct Act 2013, Companies Act 1993, and relevant tax legislation. It includes essential details such as the number of RSUs granted, vesting schedule, settlement terms, tax obligations, and restrictions on transfer. Companies commonly use this agreement to attract, retain, and motivate key employees by providing them with a stake in the company's future success, while ensuring compliance with all applicable New Zealand legal and regulatory requirements.
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1. Parties: Identifies the company granting the RSUs and the recipient (usually an employee)
2. Background: Explains the context of the RSU grant, including reference to any equity incentive plan
3. Definitions: Defines key terms used throughout the agreement
4. Grant of RSUs: Specifies the number of RSUs granted and basic terms of the grant
5. Vesting Schedule: Details the timing and conditions under which RSUs will vest
6. Settlement of RSUs: Describes how vested RSUs will be settled (e.g., shares, cash, or combination)
7. Tax Obligations: Outlines tax implications and responsibilities for both parties
8. Restrictions on Transfer: Specifies limitations on transferring or assigning RSUs
9. Termination of Employment: Explains what happens to RSUs upon various types of employment termination
10. Compliance with Laws: Ensures compliance with NZ securities laws and other applicable regulations
11. Data Privacy: Addresses collection and use of personal information
12. General Provisions: Standard contract terms including governing law, notices, and amendments
1. Change in Control: Include when specific provisions for corporate transactions or change in control are desired
2. International Provisions: Include for recipients subject to laws of multiple jurisdictions
3. Clawback Provisions: Include when company wants right to recoup RSUs in certain circumstances
4. Shareholder Rights: Include if recipients have any rights before settlement (usually they don't)
5. Electronic Delivery: Include when documents will be delivered electronically
6. Trust Arrangements: Include when RSUs are held in trust structure
7. Non-Competition/Non-Solicitation: Include when RSUs are tied to post-employment restrictive covenants
1. Schedule 1 - Grant Notice: Details specific to the individual grant including number of RSUs and vesting dates
2. Schedule 2 - Vesting Schedule: Detailed breakdown of vesting dates and conditions
3. Schedule 3 - Tax Summary: Summary of tax implications and withholding requirements
4. Appendix A - Equity Incentive Plan: Copy or summary of the main equity incentive plan
5. Appendix B - Consent Forms: Required regulatory and data privacy consent forms
6. Appendix C - Country-Specific Terms: Additional terms required by New Zealand law or other applicable jurisdictions
Relevant legal definitions
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Relevant Industries
Technology
Financial Services
Professional Services
Telecommunications
Healthcare
Biotechnology
Manufacturing
Retail
Energy
Mining
Media and Entertainment
Software and IT
Consulting
Relevant Teams
Human Resources
Legal
Finance
Executive Leadership
Compensation and Benefits
Corporate Governance
Payroll
Compliance
Share Registry
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Technology Officer
Senior Software Engineer
Product Manager
Human Resources Director
Legal Counsel
Finance Manager
Senior Executive
Department Head
Vice President
Director
Manager
Technical Lead
Principal Engineer
Sales Executive
Research Scientist
Operations Manager
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