The Restricted Stock Grant Agreement serves as a formal instrument for companies to provide equity-based compensation to employees and key service providers in Canada. This document is typically used when a company wishes to grant actual shares of stock subject to vesting conditions and transfer restrictions, rather than stock options or other forms of equity compensation. The agreement must comply with various Canadian regulatory frameworks, including provincial securities laws, the Income Tax Act, and relevant corporate legislation. It's commonly used for retention of key employees, alignment of interests with shareholders, and as part of compensation packages for executives and high-value contributors. The document includes critical elements such as vesting schedules, tax implications, shareholder rights, and various protective provisions for both the company and the grantee.
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1. Parties: Identification of the Company and the Recipient/Grantee
2. Background: Context of the agreement, including reference to any equity incentive plan
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Restricted Stock: Details of the stock grant, including number of shares and grant date
5. Vesting Schedule: Specific vesting terms, timeline, and conditions
6. Transfer Restrictions: Limitations on transfer of unvested and vested shares
7. Forfeiture Provisions: Circumstances under which shares may be forfeited
8. Tax Matters: Tax obligations, withholding requirements, and Section 85.7 election details
9. Representations and Warranties: Statements of fact and promises by both parties
10. Rights as a Shareholder: Voting rights, dividend rights, and other shareholder privileges
11. General Provisions: Standard contractual provisions including governing law, notices, and amendments
1. Change of Control Provisions: Special provisions applicable in case of company sale or merger
2. Lock-up Agreement: Additional trading restrictions, typically used for pre-IPO companies
3. Electronic Delivery: Provisions for electronic delivery of documents and notices
4. International Provisions: Special terms for recipients in different jurisdictions
5. Clawback Provisions: Terms allowing company to recoup shares in specific circumstances
6. Market Standoff Agreement: Restrictions on sale during public offering periods
1. Schedule A - Vesting Details: Detailed breakdown of vesting schedule and milestones
2. Schedule B - Tax Election Forms: Required tax forms including Section 85.7 election form
3. Schedule C - Spousal Consent: Consent form for spouse if required by provincial law
4. Appendix 1 - Notice of Stock Grant: Formal notice detailing the specific grant terms
5. Appendix 2 - Stock Power: Power of attorney for transfer of shares back to company if needed
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Professional Services
Biotechnology
Manufacturing
Energy
Mining
Healthcare
Telecommunications
Software Development
E-commerce
Consulting
Media and Entertainment
Relevant Teams
Legal
Human Resources
Finance
Executive Leadership
Corporate Governance
Compensation and Benefits
Shareholder Services
Treasury
Tax
Talent Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Technology Officer
Senior Vice President
Vice President
Director
Senior Manager
Legal Counsel
HR Director
Compensation Specialist
Stock Plan Administrator
Corporate Secretary
Executive Assistant
Board Member
Department Head
Key Engineer
Senior Developer
Principal Scientist
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