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Phantom Stock Option Agreement
"I need a Phantom Stock Option Agreement for our Irish tech startup, covering 50 phantom stock units with a 4-year vesting schedule starting March 1, 2025, including specific provisions for an IPO event and international employees."
1. Parties: Identification of the company and the option recipient
2. Background: Context of the agreement and purpose of the phantom stock option grant
3. Definitions: Key terms including Phantom Stock Units, Fair Market Value, Vesting Date, Exercise Date, etc.
4. Grant of Phantom Stock Options: Details of the phantom stock options being granted, including number of units and grant date
5. Vesting Schedule: Timeline and conditions for vesting of the phantom stock options
6. Exercise of Options: Procedures and conditions for exercising vested phantom stock options
7. Valuation Methodology: Method for determining the value of phantom stock units at time of exercise
8. Payment Terms: Terms and timing of payments upon exercise of phantom stock options
9. Tax Obligations: Responsibilities for tax payments and withholding requirements
10. Termination Provisions: Impact of employment termination on phantom stock options
11. Confidentiality: Obligations regarding confidentiality of agreement terms and company information
12. Amendment and Administration: Procedures for modifying the agreement and program administration
13. Governing Law: Specification of Irish law as governing law and jurisdiction
1. Change in Control Provisions: Special terms applying in case of company merger, acquisition, or other change in control events
2. Clawback Provisions: Terms allowing company to recoup payments in cases of misconduct or financial restatement
3. Non-Competition and Non-Solicitation: Restrictions on competitive activities and employee solicitation
4. Dispute Resolution: Alternative dispute resolution procedures such as mediation or arbitration
5. International Tax Provisions: Additional tax provisions for cross-border employees or international tax implications
6. Data Protection Clause: Specific GDPR compliance provisions for handling personal data
7. Currency Conversion: Provisions for payment in different currencies if company operates internationally
1. Schedule 1 - Grant Notice: Formal notice of phantom stock option grant including number of units and grant date
2. Schedule 2 - Vesting Schedule: Detailed timeline of vesting dates and conditions
3. Schedule 3 - Valuation Rules: Detailed methodology for calculating phantom stock unit value
4. Schedule 4 - Exercise Notice Template: Standard form for exercising vested phantom stock options
5. Schedule 5 - Tax Treatment Summary: Overview of tax implications and treatment under Irish law
6. Appendix A - Definitions: Extended definitions of technical terms used in the agreement
7. Appendix B - Administrative Procedures: Detailed procedures for administering the phantom stock option program
Authors
Applicable Law
Board
Cause
Change in Control
Company
Company Share
Confidential Information
Date of Grant
Disability
Exercise Date
Exercise Notice
Exercise Period
Exercise Price
Fair Market Value
Good Leaver
Grant Notice
Grantee
Initial Public Offering
Irish Companies Act
Market Value
Option
Participant
Payment Date
Performance Conditions
Phantom Stock Option
Phantom Stock Unit
Plan
Plan Administrator
Reference Price
Retirement
Revenue Commissioners
Service
Share Price
Shareholder
Subscription Price
Subsidiary
Tax Liability
Termination Date
Termination of Employment
Transfer
Valuation Date
Valuation Methodology
Vested Options
Vesting Conditions
Vesting Date
Vesting Period
Vesting Schedule
Vesting
Exercise Rights
Valuation
Payment Terms
Tax Obligations
Termination
Change in Control
Confidentiality
Non-Competition
Non-Solicitation
Data Protection
Assignment
Notices
Amendment
Governing Law
Jurisdiction
Entire Agreement
Severability
Force Majeure
Representations and Warranties
Administration
Company Rights
Employee Obligations
Compliance with Laws
Dispute Resolution
Waiver
Third Party Rights
Records and Accounts
Adjustment Provisions
Clawback
Good Leaver/Bad Leaver
Death and Disability
Transfer Restrictions
Corporate Events
Technology
Financial Services
Professional Services
Manufacturing
Healthcare
Retail
Telecommunications
Consulting
Software Development
Biotechnology
Real Estate
Energy
Media and Entertainment
Human Resources
Legal
Finance
Executive Leadership
Compensation and Benefits
Corporate Governance
Tax
Payroll
Compliance
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Senior Vice President
Vice President
Director
Senior Manager
Department Head
Key Account Manager
Technical Lead
Principal Engineer
Senior Software Engineer
Product Manager
Sales Executive
Research Scientist
Legal Counsel
Financial Controller
Operations Manager
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