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This legal template serves as a comprehensive guide for employees of an AIM (Alternative Investment Market) listed company operating in the United Kingdom (UK) regarding the company's EMI (Enterprise Management Incentive) option plan.

The document outlines the main provisions, rights, and obligations of employees who have been granted or are considering participating in the EMI option plan. It provides a detailed overview of the legal framework and rules governing the plan under UK law, ensuring that employees have a solid understanding of their rights and responsibilities.

The template covers various aspects of the EMI option plan, including eligibility criteria, grant and exercise of options, taxation implications, vesting periods, valuation of shares, and potential scenarios upon termination of employment. It also highlights the potential risks and rewards associated with the plan, empowering employees to make informed decisions about their participation.

Additionally, the document clarifies the rights and protections offered to employees under the UK law, such as statutory rights to request flexible working arrangements or maternity/paternity leave, emphasizing that participation in the EMI option plan should not affect these rights.

This legal template aims to ensure transparency, clarity, and compliance with the relevant UK laws and regulations surrounding EMI option plans. By providing employees with a comprehensive understanding of the plan and their rights, it ensures that they can make well-informed decisions when participating in the company's EMI option plan.

This legal template could pertain to an Employee EMI (Enterprise Management Incentive) Exercise Notice under UK law. The purpose of this template is to outline the process and requirements for an employee who wishes to exercise their share options in a company under the EMI scheme. The EMI scheme is a UK tax-advantaged share option scheme that allows eligible employees to acquire shares in their employing company.

The template may include sections detailing the employee's identification information, the company's details, the date of the notice, and the total number of shares being exercised. It may also provide guidance on where and how to deliver the notice (e.g., to the company's registered office) and any specific instructions or deadlines for doing so.

Additionally, the template may cover the purchase price for the shares and any associated tax considerations. It may outline the employee's obligations to meet any tax liabilities arising from the exercise of options and provide information on the company's obligation to report such events to relevant authorities.

Furthermore, the template could include provisions related to the possible scenarios in case the employee's exercise notice is rejected by the company, outlining the resolution process or steps to be taken. It may also include confidentiality and non-disclosure clauses, protecting the sensitive information shared during the exercise process.

Overall, this legal template aims to provide a standardized and legally compliant framework for employees and companies to facilitate the exercise of share options under the EMI scheme, ensuring transparency and clarity in the process while adhering to UK employment and tax laws.