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Stock Option Award Agreement

Stock Option Award Agreement Template for Belgium

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Key Requirements PROMPT example:

Stock Option Award Agreement

"I need a Belgian Stock Option Award Agreement for granting 10,000 stock options to our new Chief Technology Officer, with a 4-year vesting schedule starting March 1, 2025, and including special provisions for accelerated vesting in case of a company sale."

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Document background
The Stock Option Award Agreement is a crucial document used when companies operating under Belgian law wish to grant stock options to their employees or service providers as part of their compensation package. This agreement must comply with specific Belgian regulations, particularly the Law of 26 March 1999, which governs the tax treatment of stock options. The document serves multiple purposes: it formalizes the option grant, establishes vesting conditions, defines exercise procedures, addresses tax implications, and protects both the company's and recipient's interests. It's particularly important in Belgium due to the specific tax advantages that can apply to stock options at the time of grant rather than exercise, making it essential to properly document the terms and conditions of the award.
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 stock option plan, and corporate approvals

3. Definitions: Key terms used throughout the agreement, including Option, Exercise Price, Shares, Vesting Date, etc.

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

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

6. Exercise of Option: Procedures and requirements for exercising options, including payment methods

7. Tax Obligations: Tax implications and responsibilities under Belgian law, including reporting requirements

8. Transfer Restrictions: Limitations on transferability of options and shares

9. Termination of Employment: Impact of employment termination on options

10. Data Protection: GDPR compliance provisions regarding personal data processing

11. Governing Law and Jurisdiction: Specification of Belgian law application and jurisdiction

Optional Sections

1. Change of Control: Provisions addressing what happens to options in case of company ownership changes

2. Bad Leaver Provisions: Specific consequences for termination due to misconduct or similar circumstances

3. Good Leaver Provisions: Special treatment for termination due to retirement, disability, or death

4. Clawback Provisions: Company's right to recoup benefits in certain circumstances

5. Lock-up Period: Additional restrictions on selling shares after exercise

6. International Provisions: Special provisions for recipients residing outside Belgium

7. Social Security Treatment: Specific provisions regarding social security implications

8. Currency Provisions: Required when exercise price is in non-Euro currency

Suggested Schedules

1. Notice of Exercise Form: Template form for option holder to notify company of option exercise

2. Tax Summary: Overview of applicable Belgian tax treatment and calculations

3. Vesting Schedule Detail: Detailed breakdown of vesting dates and quantities

4. Consent to Electronic Delivery: Authorization for electronic communications and notifications

5. Data Processing Consent: Detailed GDPR consent form for data processing

6. Copy of Stock Option Plan: Full text of the company's stock option plan referenced in agreement

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Company
Option Recipient
Board of Directors
Plan
Option
Shares
Exercise Price
Grant Date
Vesting Date
Vesting Schedule
Exercise Period
Exercise Notice
Fair Market Value
Cause
Good Reason
Disability
Retirement Age
Employment Agreement
Change of Control
Subsidiary
Parent Company
Group
Belgian Companies and Associations Code
FSMA
Competent Authority
Trading Day
Stock Exchange
Exercise Window
Lock-up Period
Bad Leaver
Good Leaver
Confidential Information
Personal Data
Data Protection Laws
Tax Event
Social Security Contributions
Business Day
Term
Notice
Acceptance Period
Option Certificate
Share Capital
Articles of Association
Shareholders' Agreement
Option Pool
Fully Diluted Basis
Clauses
Grant of Option
Vesting
Exercise Rights
Exercise Price
Exercise Period
Exercise Procedure
Payment Terms
Tax Obligations
Social Security
Transferability Restrictions
Employment Relationship
Termination Provisions
Good Leaver
Bad Leaver
Change of Control
Confidentiality
Data Protection
Non-Competition
Share Capital Changes
Corporate Reorganization
Notices
Amendment
Assignment
Entire Agreement
Severability
Waiver
Electronic Communications
Counterparts
Third Party Rights
Compliance with Laws
Governing Law
Jurisdiction
Relevant Industries

Technology

Financial Services

Professional Services

Manufacturing

Biotechnology

Telecommunications

Consumer Goods

Energy

Healthcare

Real Estate

Software

Consulting

E-commerce

Media and Entertainment

Relevant Teams

Human Resources

Legal

Finance

Compensation and Benefits

Tax

Compliance

Corporate Governance

Executive Leadership

Board Secretariat

Payroll

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Human Resources Director

Compensation and Benefits Manager

Legal Counsel

Corporate Secretary

Finance Manager

HR Business Partner

Talent Acquisition Manager

Employee Benefits Specialist

Tax Manager

Compliance Officer

Board Member

Executive Director

Department Head

Senior Manager

Industries
Belgian Companies and Associations Code (BCAC): The primary corporate law framework governing company structures, share issuance, and corporate governance requirements for Belgian companies
Law of 26 March 1999 on Stock Options: Specific Belgian legislation governing the tax treatment of stock options, including valuation methods and timing of taxation
Belgian Employment Contracts Act: Regulates employment relationships and compensation elements, including equity-based compensation
Belgian Financial Services and Markets Authority (FSMA) Regulations: Regulations concerning securities offerings and financial instruments, including requirements for private placements
Belgian Income Tax Code: General tax provisions affecting the taxation of equity-based compensation and capital gains
EU General Data Protection Regulation (GDPR): Data protection requirements for processing personal data of option holders
Belgian Social Security Legislation: Provisions regarding social security contributions on various forms of compensation, including treatment of stock options
Belgian Civil Code: General contract law principles applicable to agreement formation, interpretation, and enforcement
Corporate Governance Code 2020: Best practices for listed companies regarding remuneration and equity-based incentives
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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