Jurisdiction(s):
United Kingdom

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

Leaver provisions in UK share plans: drafting, definitions, good/bad leavers, board discretion, EMI/CSOP/SIP/SAYE rules, UK Corporate Governance Code, restrictive covenants, performance conditions, precedent wording

Published by a LexisNexis Share Incentives expert

Practice notes

Leaver provisions and different types of scheme

When putting together share plan rules or an option or award agreement, an employer will usually want to spell out what becomes of the relevant option or award if the employee’s employment ends. Any clause addressing this point is commonly called a ‘leaver provision’. For most share incentive arrangements, such leaver terms will be contained in the master plan rules and/or the recipient’s specific award paperwork. By contrast, where the award’s structure makes the individual a shareholder from day one, for example under a growth share arrangement, the leaver mechanics may instead be set out in the company’s articles of association, so as to address any obligation on the employee shareholder to transfer their shares on departure from the company or, as appropriate, the wider group. Where a share award is granted under a statutory tax‑advantaged share scheme, the company must also ensure the scheme’s leaver provisions meet the legislative conditions that apply to that particular type of plan (see: Leaver requirements under statutory tax‑advantaged plans below and also Practice Note: Employee share schemes—dealing with leavers). Particularly if...

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Web page updated on 22/05/2026

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