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Stock Option Plan / Azerbaijan

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Award Documents and Communication

Award Document Wording

( Recommended action )

Company

It is recommended to have a local version of the Award documents which includes wording to deal with local tax and legal issues.

It is recommended that the following is included in the Award documents:

  1. wording to state that the Award is separate from and does not form part of the Participant’s employment benefits to exclude any liability on the part of the Company or Local Company for the loss of an Award as a result of the Participant’s termination of employment; 
  2. a full indemnity in respect of income tax and social security contributions and any other compulsory deductions and payments as may be required under applicable laws; 
  3. language to confirm that the Local Company is operating the Plan in accordance with the applicable data privacy laws;
  4. language to obtain the consent of Participants for collecting, using and transferring their personal data abroad in connection with the Awards; and
  5. where deductions are to be made to Participants' salaries in connection with the Plan, that Participants agree to such deductions being made.
Timing: Grant.
Cost: EUR 2000 - Per Award type.

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