Share Incentive Plan (SIP) Participation Agreement template

£ 15

Use this Share Incentive Plan (SIP) Participation Agreement for employees joining a SIP, outlining the terms of their participation, including share purchase options and vesting criteria.

Why this template is necessary

The purpose of this Share Incentive Plan (SIP) Participation Agreement template is to provide you with a flexible and customisable document to serve as a robust and effective starting point for you.

By using our Share Incentive Plan (SIP) Participation Agreement template, you can streamline your process, maintain consistency and accuracy, and save time, and it can be easily adapted to fit your specific scenario.

Specifications

Reading time icon
Time to read / prep / use
5 mins
Document specs icon
Word count / length
253 words, 2 pages A4
Date last reviewed icon
Date last reviewed
1 June 2024
share incentive plan (sip) participation agreement template

Share Incentive Plan (SIP) Participation Agreement

Share Incentive Plan (SIP) Participation Agreement

Between:

[Your Company Name] (hereinafter referred to as the "Company")

And:

[Employee's Full Name] (hereinafter referred to as the "Employee")

Date of Agreement: [Date]

1. SIP Participation Details

  • Participation Date: [Date]
  • Employee ID/Number: [Employee ID/Number]
  • Department/Division: [Department/Division]

2. SIP Scheme Details

  • SIP Scheme Offering Date: [Date]
  • SIP Scheme Offering Price per Share: [Price]
  • SIP Scheme Duration (e.g., 3 or 5 years): [Duration]
  • Percentage of Salary Contributed to SIP: [Percentage]

3. Payment for Shares

  • The Employee agrees to pay the SIP contributions from their salary as per the agreed percentage.

4. Ownership and Vesting

  • Shares acquired through the SIP will be held in trust until vesting conditions are met.

5. Vesting Conditions

  • [Specify conditions, e.g., continued employment, performance goals]

6. Withdrawal from SIP

  • The Employee may withdraw from the SIP at any time, subject to the terms and conditions of the scheme.

7. Tax Implications

  • Consult your tax advisor for information on tax implications related to the SIP.

8. Governing Law

  • This Agreement shall be governed by and construed in accordance with the laws of [Specify Jurisdiction].

9. Entire Agreement

  • This Agreement contains the entire understanding between the Company and the Employee concerning the SIP.

10. Acceptance

  • The Employee acknowledges receipt of a copy of this Agreement and agrees to be bound by its terms and conditions.

Employee's Signature: _________________________ Date: ______________

Company Representative's Signature: _________________________ Date: ______________

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Why choose our Share Incentive Plan (SIP) Participation Agreement template?

Our content:

Is easy to edit and execute, with comprehensive implementation guidance.
Is designed by accredited, experienced HR practitioners.
Maintains your compliance with ACAS guidelines, legislation, and industry best practices.
Includes 12 months access to your purchase, with email alerts if updated or expanded.

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