Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Employee definition

What does Employee mean? Describes an individual engaged under a contract of employment (a contract of service) who enjoys the fullest employment law protections, such as unfair dismissal, redundancy pay, statutory notice and much family leave. In practice, employee status is determined by legislation read with case law on the reality of the relationship, typically examining personal service (no unfettered substitution right), employer control, and mutuality of obligation, alongside integration and other indicia. In England & Wales and Scotland, the Employment Rights Act 1996 defines an employee as an individual who has entered into or works under (or, where employment has ceased,...

Discretionary Employee Benefit Trust Deed (England and Wales) constituting an employees’ share scheme; trustee powers, beneficiary provisions, taxation, trustee appointment and retirement, variation and termination

Published by a LexisNexis Share Incentives expert

Precedents

This Deed is entered into on [ insert date on which this deed is executed by all parties ]

Parties

[ Insert name of Company ] whose registered office is at [ insert address of registered office ] and whose registered number is [ insert registered number of Company ] (the Company); and
[ Insert name of Trustee ] whose registered address is at [ insert address ] [ and whose registered company number is [ insert registered company number of Trustee ] ] (the Original Trustee).

Background

The Company intends to establish a trust to be known as the [ insert name of EBT ] with the objective of encouraging, motivating and retaining Employees within the Group Companies by providing benefits to such Employees and their dependants.
The Company has transferred to the Original Trustee the sum of £[ insert initial settlement amount ] as the initial Trust Fund.
It is anticipated that the Trustees will hold the Trust Fund upon the trusts declared in this Deed for the benefit of the Beneficiaries, exercising the powers and duties specified in this Deed...

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Jeremy Glover (Share Schemes)

Jeremy is a senior incentives lawyer who has over 18 years' experience advising businesses on their employee and executive incentives and share plans. Jeremy's practice focuses on the field of remuneration, executive pay, employee share plans and management buyouts. Jeremy advises a broad range of clients including multinationals, quoted companies, privately owned companies (family, owner-managed businesses, venture capital backed and private equity backed). He also provides specialist expert advice to other professional advisers such as accountants, tax advisers and remuneration consultants for their clients. Jeremy has worked in private practice and in-house and enjoys advising clients using the benefit of both perspectives. Jeremy used to head up the incentives practices at Reed Smith LLP, Stephenson Harwood LLP and the Entrepreneurial Group at EY in London. Jeremy is now a senior consultant to a number of law and accounting firms including Reed Smith LLP, PWT Advice LLP and...

Web page updated on 22/05/2026

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