The Employee Shareholder Agreement is a crucial document used when companies in the Philippines wish to offer share ownership to their employees as part of their compensation, retention, or incentive strategy. This agreement is particularly important in the Philippine context, where employee share ownership must comply with both the Corporation Code and the Securities Regulation Code, while also adhering to local labor laws. The document typically combines elements of employment terms with shareholder rights and obligations, creating a comprehensive framework that governs the employee's dual role as both staff member and shareholder. It is commonly used in startups, growing companies, and established corporations looking to align employee interests with company success through share ownership.
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Key Requirements PROMPT example:
Employee Shareholder Agreement
"I need an Employee Shareholder Agreement for a Philippine tech startup, where we're offering 2% common shares to our new CTO with a 4-year vesting period starting January 2025, including typical good leaver/bad leaver provisions and non-compete clauses."
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1. Parties: Identification of the Company, the Employee Shareholder, and any other relevant parties
2. Background: Context of the agreement, including employment status and purpose of share issuance
3. Definitions: Definitions of key terms used throughout the agreement
4. Share Subscription: Details of shares being issued, including class, number, and price
5. Payment Terms: Terms and schedule for payment of shares, including any company financing arrangements
6. Employment Relationship: Key terms of employment and relationship with shareholder status
7. Rights and Obligations: Shareholder rights, voting rights, dividend rights, and corresponding obligations
8. Transfer Restrictions: Limitations on share transfers, including lock-up periods and right of first refusal
9. Termination Provisions: Consequences of employment termination on shareholding
10. Confidentiality: Provisions regarding company confidential information and trade secrets
11. Dispute Resolution: Process for resolving disputes, including jurisdiction and governing law
12. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Tag-Along Rights: Rights of the employee to join in sale of shares by major shareholders - include for minority protection
2. Drag-Along Rights: Company's right to force employee participation in sale - include for exit flexibility
3. Share Vesting: Schedule and conditions for share vesting - include if shares are part of incentive package
4. Good Leaver/Bad Leaver: Different treatment of shares based on circumstances of employment termination
5. Non-Competition: Restrictions on competing activities - include if employee has senior role
6. Performance Targets: Link between company/individual performance and share rights - include for performance-based schemes
7. Share Valuation: Method for valuing shares - include if not publicly traded
8. Financing Provisions: Terms of company-provided financing for share purchase - include if relevant
1. Share Certificate: Copy or details of the share certificate issued
2. Employment Terms: Summary of key employment terms relevant to shareholding
3. Company Constitution: Relevant excerpts from company's articles of incorporation and by-laws
4. Shareholders Agreement: Key provisions from main shareholders agreement affecting employee shareholders
5. Share Vesting Schedule: Detailed timeline and conditions for share vesting if applicable
6. Deed of Adherence: Form of deed binding employee to existing shareholders agreement
7. Transfer Notice: Form of notice for share transfers
8. Valuation Methodology: Detailed process for share valuation when required
Authors
Relevant legal definitions
Clauses
Interpretation
Share Subscription
Payment Terms
Share Issuance
Voting Rights
Dividend Rights
Transfer Restrictions
Pre-emptive Rights
Tag-Along Rights
Drag-Along Rights
Share Vesting
Employment Conditions
Performance Requirements
Good Leaver Provisions
Bad Leaver Provisions
Termination Effects
Non-Competition
Non-Solicitation
Confidentiality
Intellectual Property
Information Rights
Board Representation
Corporate Governance
Valuation Mechanism
Exit Provisions
Death and Disability
Dispute Resolution
Governing Law
Amendments
Assignment
Notices
Severability
Entire Agreement
Force Majeure
Costs and Expenses
Shareholders' Meetings
Share Certificates
Compliance with Laws
Tax Provisions
Data Protection
Share Subscription
Payment Terms
Share Issuance
Voting Rights
Dividend Rights
Transfer Restrictions
Pre-emptive Rights
Tag-Along Rights
Drag-Along Rights
Share Vesting
Employment Conditions
Performance Requirements
Good Leaver Provisions
Bad Leaver Provisions
Termination Effects
Non-Competition
Non-Solicitation
Confidentiality
Intellectual Property
Information Rights
Board Representation
Corporate Governance
Valuation Mechanism
Exit Provisions
Death and Disability
Dispute Resolution
Governing Law
Amendments
Assignment
Notices
Severability
Entire Agreement
Force Majeure
Costs and Expenses
Shareholders' Meetings
Share Certificates
Compliance with Laws
Tax Provisions
Data Protection
Relevant Industries
Technology
Financial Services
Professional Services
Manufacturing
Retail
Healthcare
Real Estate
Telecommunications
Business Process Outsourcing
Energy
Construction
Mining
Agriculture
Education
Transportation and Logistics
Relevant Teams
Human Resources
Legal
Finance
Executive Management
Operations
Information Technology
Research and Development
Sales
Business Development
Product Development
Corporate Strategy
Administration
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Technology Officer
Chief Operating Officer
Managing Director
Department Head
Senior Manager
Technical Lead
Senior Developer
Principal Engineer
Senior Consultant
Regional Manager
Country Manager
Division Head
Key Account Manager
Senior Sales Executive
Research Director
Senior Analyst
Project Manager
Product Manager
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