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Employee Share Schemes

Appendix 12A: Savings-Related Share Option Scheme

Employee Share Schemes

Authors:
Colin Chamberlain and Mark Ife
Publisher:
Bloomsbury Professional
Edition:
Fifth edition
Publication Date:
2009
Law As Stated At:
1 April 2009
Set out below is a precedent for an approved savings-related share option scheme based on the HMRC model scheme, a copy of which can be found on the HMRC website. This scheme is in a form capable of approval by HMRC under ITEPA 2003, Sch 3 . The HMRC precedent may need to be amended in order to meet the needs of particular companies (for example, to take account of institutional investor guidelines and the UKLA Listing Rules for a listed company). Such provisions may not be necessary, however, for inclusion in the rules for a private company. Rules of the [ ] Savings-Related Share Option Scheme 1. DEFINITIONS 1.1 In this Scheme, the following words and expressions shall bear, unless the context otherwise requires, the meanings set forth below: ‘Appropriate Period’ has the meaning given by Paragraph 38(3) of Schedule 3 to ITEPA; ‘Associated Company’ means an associated company ‘the ...
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