Jurisdiction(s):
United Kingdom

Key definition

Award definition

What does Award mean? In arbitration practice, an award is the arbitral tribunal’s written decision that determines the parties’ claims, defences and the relief granted. Legislation governs its effect and form in England & Wales and Northern Ireland (Arbitration Act 1996), Scotland (Arbitration (Scotland) Act 2010) and Ireland (Arbitration Act 2010 implementing the UNCITRAL Model Law). Key features commonly include: writing, signatures, the date, identification of the seat, and reasons unless the parties agree otherwise. An award is generally final and binding as to the matters decided, subject only to limited statutory challenges (for example, lack of jurisdiction, serious irregularity, and in England...

Phantom Share Plan: Deed of Grant of Units (Award Agreement) with Vesting, Transfer and Tax Provisions (England and Wales)

Published by a LexisNexis Share Incentives expert

Precedents

This Deed is made on [ insert date ].

Parties

[ Insert name of company ] with company number [ insert company number ], whose registered office is at [ insert address ] (the Company).
[ Insert name of participant ] of [ insert address ] (the Participant).

Background and interpretation

The Company has set up the [ insert name of plan ] (the Plan).
The Participant is an Eligible Employee, and the Company intends to grant an Award to the Participant under the Plan.
Expressions defined in the rules of the Plan (the Rules) (but not defined in this Deed) carry the same meanings in this Agreement unless the context dictates otherwise.
This agreement is executed as a Deed. This agreement is SUPPLEMENTAL to the Rules. If there is any ambiguity or inconsistency between this agreement and the Rules, unless the Rules state otherwise, the Rules shall take precedence...

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Stephen Diosi

Mishcon de Reya

Stephen leads the Employee Incentives team at Mishcon de Reya. He has significant experience advising on the strategy, design, implementation and compliance of UK and global employee incentive arrangements, including long term incentive plans, all-employee share plans, HM Revenue and Customs tax-advantaged plans, management incentive plans and growth share and joint ownership plans. Stephen also advises on all related corporate, tax and trusts aspects, corporate governance issues, disclosure of directors' remuneration and share dealing regulations.In addition, Stephen works with companies on the impact that corporate actions have on their incentive arrangements and has acted on many public takeovers, mergers and acquisition, public to private transactions, initial public offerings, capital raising activities and private equity deals.Stephen also advises on contractual disputes and tax investigations relevant to incentives arrangements.Stephen works with a wide range of businesses across several industry sectors, including financial services, natural...

Web page updated on 22/05/2026

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