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Restricted Stock Unit Agreement

Restricted Stock Unit Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Restricted Stock Unit Agreement

"I need a Restricted Stock Unit Agreement under Saudi Arabian law for a technology startup, with quarterly vesting over 4 years starting March 2025, including special provisions for remote employees and a change in control clause."

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Document background
The Restricted Stock Unit Agreement serves as a critical instrument for companies operating in Saudi Arabia to provide equity-based compensation to their employees. This document is typically used when a company wishes to grant RSUs as part of its employee compensation strategy, whether for retention, performance incentivization, or alignment of employee interests with company growth. The agreement must comply with Saudi Arabian regulations, including CMA requirements, ZATCA regulations, and corporate governance standards. It details the RSU grant, vesting conditions, settlement procedures, and addresses various scenarios such as employment termination and change in control. The document is particularly relevant in the context of Saudi Vision 2030's emphasis on developing the private sector and modernizing corporate practices.
Suggested Sections

1. Parties: Identification of the Company (grantor) and the Employee (grantee)

2. Background: Context of the RSU grant, reference to any equity incentive plan, and corporate approvals

3. Definitions: Key terms used throughout the agreement including 'RSUs', 'Vesting Date', 'Share', etc.

4. Grant of RSUs: Details of the RSU award, including number of units granted and grant date

5. Vesting Schedule: Specific conditions and timeline for RSU vesting

6. Settlement of RSUs: Process and timing for converting vested RSUs into shares or cash

7. Rights and Restrictions: Rights attached to RSUs, including voting and dividend rights

8. Termination of Employment: Impact of various types of employment termination on RSUs

9. Compliance with Laws: Obligations to comply with Saudi Arabian laws, including CMA and ZATCA requirements

10. Tax Obligations: Tax implications and responsibilities of both parties

11. Data Protection: Handling of personal data in accordance with Saudi Arabian regulations

12. Governing Law and Jurisdiction: Application of Saudi Arabian law and dispute resolution mechanisms

Optional Sections

1. Change in Control: Include when company wants to specify treatment of RSUs in case of merger, acquisition, or other corporate transactions

2. Clawback Provisions: Include when company wants right to recoup shares in case of misconduct or financial restatement

3. Non-Competition and Confidentiality: Include when RSU grant is tied to restrictive covenants

4. International Provisions: Include for employees who may relocate internationally

5. Electronic Acceptance: Include when agreement will be executed electronically

6. Currency Conversion: Include when settlement might involve currency conversion between SAR and other currencies

Suggested Schedules

1. Schedule 1 - Grant Notice: Specific details of the individual grant including number of RSUs, grant date, and vesting schedule

2. Schedule 2 - Equity Incentive Plan: Summary or extract of the relevant equity incentive plan terms

3. Schedule 3 - Vesting Conditions: Detailed performance or time-based vesting conditions

4. Schedule 4 - Tax Summary: Summary of applicable tax treatment under Saudi Arabian law

5. Appendix A - Consent Forms: Required regulatory and data protection consent forms

6. Appendix B - Compliance Certificate: Template for confirming compliance with CMA regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
Clauses






























Relevant Industries

Technology

Financial Services

Healthcare

Manufacturing

Telecommunications

Professional Services

Energy and Utilities

Real Estate

Retail

Education

Mining and Materials

Transportation and Logistics

Media and Entertainment

Relevant Teams

Legal

Human Resources

Finance

Executive Management

Corporate Governance

Compensation and Benefits

Corporate Secretary Office

Compliance

Risk Management

Internal Audit

Information Technology

Operations

Research and Development

Sales

Marketing

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Senior Vice President

Vice President

Director

Senior Manager

Manager

Software Engineer

Financial Analyst

Sales Executive

Research Scientist

Product Manager

Human Resources Manager

Legal Counsel

Department Head

Technical Lead

Business Development Manager

Operations Manager

Project Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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