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Advisor Stock Option Agreement

Advisor Stock Option Agreement Template for Indonesia

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Key Requirements PROMPT example:

Advisor Stock Option Agreement

"I need an Advisor Stock Option Agreement for our Indonesian tech startup, granting 50,000 stock options to a Silicon Valley-based technical advisor with quarterly vesting over 2 years starting March 2025, including provisions for virtual advisory services and international tax considerations."

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Document background
The Advisor Stock Option Agreement is a crucial document used by Indonesian companies to attract and retain high-quality advisors by offering equity compensation in the form of stock options. This agreement is particularly relevant for startups, growth-stage companies, and established corporations seeking strategic guidance while conserving cash resources. The document must comply with Indonesian corporate law, specifically Law No. 40 of 2007 on Limited Liability Companies and relevant OJK regulations governing securities. It typically includes detailed provisions on option grants, vesting schedules, exercise procedures, and regulatory compliance requirements. The agreement is structured to protect both the company's interests in maintaining long-term advisor relationships and the advisor's rights to equity participation, while ensuring all terms are enforceable under Indonesian law.
Suggested Sections

1. Parties: Identifies the company granting the options and the advisor receiving them, including their complete legal details and addresses

2. Background: Sets out the context of the advisor's relationship with the company and the purpose of granting stock options

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

4. Grant of Option: Specifies the number of shares subject to the option, the exercise price, and grant date

5. Vesting Schedule: Details the vesting timeline and conditions for the options to become exercisable

6. Exercise of Option: Outlines the procedures and requirements for exercising the options, including payment methods and notice requirements

7. Term and Expiration: Specifies the duration of the option and circumstances leading to expiration

8. Regulatory Compliance: Addresses compliance with Indonesian company law, OJK regulations, and other applicable laws

9. Termination of Advisory Relationship: Describes the impact of termination on unvested and vested options

10. Restrictions on Transfer: Sets forth limitations on transferring or assigning the options or resulting shares

11. Representations and Warranties: Contains standard representations from both parties regarding authority, compliance, and understanding

12. Confidentiality: Establishes obligations to maintain confidentiality of agreement terms and company information

13. Governing Law and Dispute Resolution: Specifies Indonesian law as governing law and outlines dispute resolution procedures

14. General Provisions: Includes standard boilerplate provisions such as amendments, notices, and severability

Optional Sections

1. Change of Control Provisions: Include when the company wants to specify special treatment of options in case of acquisition or merger

2. Tax Provisions for Foreign Advisors: Include when the advisor is not an Indonesian tax resident

3. Special Vesting Acceleration: Include when certain achievements or milestones can trigger accelerated vesting

4. Lock-up Period: Include when the company wants to restrict the sale of shares post-exercise, especially relevant for pre-IPO companies

5. Right of First Refusal: Include when the company wants the right to repurchase shares before they can be sold to third parties

6. Shareholder Rights: Include when specifying voting rights and other shareholder privileges for exercised options

7. Currency Provisions: Include when exercise price or payments may be made in non-Indonesian Rupiah

Suggested Schedules

1. Schedule A - Option Details: Detailed specification of option grant including number of shares, exercise price, and vesting schedule

2. Schedule B - Notice of Exercise Form: Template form for advisor to use when exercising options

3. Schedule C - Investment Representations: Standard representations regarding the advisor's investment knowledge and risk understanding

4. Schedule D - Consent of Spouse: Required spousal consent form under Indonesian marriage property law

5. Schedule E - Company's Articles of Association Excerpt: Relevant sections of the company's articles regarding share issuance and transfer

6. Appendix 1 - Regulatory Compliance Checklist: Checklist ensuring compliance with Indonesian corporate and securities regulations

7. Appendix 2 - Tax Treatment Summary: Summary of applicable tax regulations and obligations for both parties

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
Advisor
Advisory Services
Applicable Law
Articles of Association
Board of Directors
Cause
Change of Control
Company
Confidential Information
Exercise Notice
Exercise Period
Exercise Price
Expiration Date
Fair Market Value
Grant Date
Initial Public Offering
Notice
OJK
Option
Option Shares
Parties
Plan
Regulatory Approval
Related Parties
Securities Laws
Service Agreement
Shares
Shareholders
Stock Exchange
Subsidiary
Tax
Term
Transfer
Vested Options
Vesting Date
Vesting Period
Vesting Schedule
Clauses
Grant of Option
Option Terms
Vesting
Exercise Rights
Exercise Procedure
Payment Terms
Transfer Restrictions
Regulatory Compliance
Tax Obligations
Representations and Warranties
Confidentiality
Non-Competition
Non-Solicitation
Termination
Change of Control
Dispute Resolution
Governing Law
Force Majeure
Assignment
Notices
Amendment
Entire Agreement
Severability
Waiver
Counterparts
Language
Share Rights
Shareholder Obligations
Risk Disclosure
Information Rights
Data Protection
Corporate Actions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Relevant Industries

Technology

Financial Services

E-commerce

Healthcare

Education Technology

Manufacturing

Professional Services

Telecommunications

Digital Media

Biotechnology

Clean Energy

Consumer Goods

Software Development

Consulting Services

Relevant Teams

Legal

Human Resources

Finance

Corporate Governance

Executive Leadership

Compliance

Board of Directors

Corporate Secretary Office

Compensation & Benefits

Strategic Planning

Relevant Roles

Chief Executive Officer

Chief Legal Officer

General Counsel

Corporate Secretary

Board Member

Technical Advisor

Strategic Advisor

Industry Expert

Financial Advisor

Management Consultant

Board Advisor

Executive Director

Chief Financial Officer

VP of Human Resources

Compliance Officer

Legal Counsel

Company Director

HR Director

Compensation Specialist

Industries
Law No. 40 of 2007 on Limited Liability Companies: Primary legislation governing Indonesian companies, including provisions on share capital, issuance of shares, and corporate governance requirements
Law No. 8 of 1995 on Capital Markets: Regulates securities trading, including provisions on equity instruments and their issuance requirements
OJK Regulation No. 32/POJK.04/2015: Regulates capital increases in public companies, including provisions on stock options and their implementation
Law No. 13 of 2003 on Employment: Governs employment relationships and could affect the structure of advisor agreements
Income Tax Law (Law No. 36 of 2008): Provides tax treatment for stock options and their exercise, including timing of taxation and valuation methods
Law No. 25 of 2007 on Investment: Regulates foreign investment aspects, relevant if the advisor is a foreign entity or individual
Bank Indonesia Regulation on Foreign Exchange Transactions: Relevant for cross-border aspects of stock option agreements with foreign advisors
OJK Regulation No. 33/POJK.04/2014: Provides guidelines on the issuance of equity-based compensation including stock options
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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