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Share Option Agreement

Share Option Agreement Template for Indonesia

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Key Requirements PROMPT example:

Share Option Agreement

"I need a Share Option Agreement under Indonesian law for our tech startup, granting 5,000 options to our new CTO with a 4-year vesting period starting March 2025, including accelerated vesting provisions in case of company acquisition."

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Document background
The Share Option Agreement is a crucial document used in Indonesian corporate practice when companies wish to grant rights to purchase shares at a predetermined price within a specified period. It's commonly utilized for employee incentivization, talent retention, and alignment of interests between key stakeholders and the company. The agreement must comply with Indonesian Company Law (Law No. 40 of 2007), capital market regulations, and OJK requirements. This document is particularly relevant for startups, growing companies, and established corporations implementing employee stock ownership programs or strategic investment arrangements. The agreement typically includes detailed provisions on vesting schedules, exercise mechanisms, and regulatory compliance requirements specific to the Indonesian market.
Suggested Sections

1. Parties: Identification of the company granting options and the option holder(s)

2. Background: Context of the option grant, including reference to any relevant board or shareholder approvals

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

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

5. Exercise Period: Timeframe during which the option may be exercised

6. Vesting Conditions: Schedule and conditions for when options become exercisable

7. Exercise Procedure: Process and requirements for exercising the options

8. Payment Terms: Methods and timing of payment upon exercise of options

9. Regulatory Compliance: Compliance with Indonesian securities laws and regulations

10. Taxation: Tax obligations and responsibilities of both parties

11. Termination: Circumstances under which the option agreement can be terminated

12. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes

Optional Sections

1. Employment Relationship: Required when options are granted as part of employment compensation, addressing impact of employment termination

2. Change of Control: Provisions for what happens to options in case of company merger, acquisition, or restructuring

3. Non-Competition: Restrictions on option holder's competitive activities, if applicable

4. Foreign Ownership Compliance: Required when option holder is a foreign entity, addressing compliance with Indonesian foreign ownership restrictions

5. Transfer Restrictions: Additional restrictions on transfer of options or resulting shares

6. Tag-Along Rights: Rights of option holders to participate in sale of company shares

7. Drag-Along Rights: Company's right to force option holders to sell their shares

8. Information Rights: Option holder's rights to receive company information

Suggested Schedules

1. Option Certificate: Formal certificate detailing the option grant

2. Vesting Schedule: Detailed timeline and conditions for option vesting

3. Exercise Notice: Template form for exercising options

4. Deed of Adherence: Document to be signed upon exercise binding the option holder to any shareholders' agreement

5. Company's Articles of Association: Current articles of association showing share capital structure

6. Regulatory Approvals: Copies of relevant OJK or other regulatory approvals

7. Calculation Methods: Detailed methods for calculating exercise price adjustments

8. Tax Illustrations: Examples of tax calculations and obligations

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
Acceptance Period
Articles of Association
Bad Leaver
Board
Business Day
Change of Control
Company
Completion
Conditions
Confidential Information
Control
Deed of Adherence
Directors
Effective Date
Eligible Employee
Encumbrance
Exercise Date
Exercise Notice
Exercise Period
Exercise Price
Expiry Date
Fair Market Value
Financial Year
Good Leaver
Grant Date
Group
Group Company
IPO
Issue Price
Listing
Market Price
OJK
Option
Option Certificate
Option Holder
Option Period
Option Shares
Parent Company
Parties
Plan
Related Party
Relevant Stock Exchange
Share Capital
Shareholders Agreement
Shares
Subsidiary
Tax
Termination Date
Transfer
Unvested Options
Vested Options
Vesting Date
Vesting Period
Vesting Schedule
Relevant Industries

Technology

Financial Services

E-commerce

Manufacturing

Professional Services

Healthcare

Real Estate

Consumer Goods

Telecommunications

Energy

Education

Transportation and Logistics

Digital Media

Retail

Relevant Teams

Legal

Human Resources

Finance

Compliance

Corporate Secretariat

Board of Directors

Executive Management

Compensation and Benefits

Risk Management

Corporate Governance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Human Resources Director

Legal Counsel

Compensation and Benefits Manager

Corporate Secretary

Board Member

Investment Manager

Compliance Officer

Finance Manager

HR Business Partner

Company Director

Employee Relations Manager

Risk Manager

Corporate Governance Officer

Industries
Law No. 40 of 2007 on Limited Liability Companies (Company Law): Primary legislation governing corporate entities in Indonesia, including provisions on share capital, shareholder rights, and corporate governance
Law No. 8 of 1995 on Capital Markets: Regulates securities trading, including provisions relevant to share options and their exercise
OJK Regulation No. 32/POJK.04/2015: Regulations on capital increases in public companies, including provisions for rights issues and share option schemes
Law No. 25 of 2007 on Investment: Governs foreign investment in Indonesian companies, including restrictions on foreign ownership in certain sectors
Government Regulation No. 78 of 2015 on Remuneration: Relevant when share options are part of employee compensation packages
Income Tax Law No. 36 of 2008: Governs taxation aspects of share options, including timing of taxation and valuation methods
OJK Regulation No. 14/POJK.04/2019: Regulates share ownership plans and employee stock ownership programs (ESOP) in public companies
Law No. 13 of 2003 on Employment: Relevant when share options are offered as part of employment benefits or compensation
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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