Jurisdiction(s):
United Kingdom

Key definition

Settlement definition

What does Settlement mean? In financial markets practice, settlement is the completion of a securities trade by delivering the securities to the buyer and paying the price to the seller, usually on a scheduled date after the trade (for example, T+2) and commonly on a delivery versus payment (DvP) basis. It is a descriptive market term rather than a single statutory definition, but is governed by legislation and market rules (including the UK onshored CSDR regime and the EU CSDR in Ireland, the Uncertificated Securities Regulations, the Settlement Finality Regulations, and central securities depository and CCP rulebooks). Key features include trade matching/affirmation, allocation of settlement...

Settlement Agreement Additional Clauses for Share Plans: Options and Awards Vesting and Lapse, Committee Discretion, Waivers, and Compulsory Transfer of Leaver Securities and Power of Attorney

Published by a LexisNexis Share Incentives expert

Precedents

1 Details of Awards

As at the Termination Date, you retain awards granted in respect of Shares of [ [ the Company ] OR [ name of parent company ] OR under [ the Company ] OR [ name of parent company ] ] under the employee share plan[s], as follows:

[ an option over [ number and class ] shares pursuant to the [ name of share option plan ] (the Share Option Plan), granted to you on [ date ], and exercisable at [ exercise price ] per share (the Option); ]
[ an award of [ number and class ] shares under the [ name of share plan ] (the Share Award Plan), granted to you on [ date ] (the Award); and ]
[ insert details of any other option or awards ].

2 Awards remaining subject to Plan rules

You acknowledge and agree that the [ Option AND/OR Award AND/OR ] will remain subject to the rules of the [ Share Option Plan AND/OR Share Award Plan ].

3 Lapse of Option/Award

You acknowledge and agree that, in accordance...

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Sam Whitaker

Debevoise & Plimpton LLP

Sam is an International Counsel in the London office of Debevoise & Plimpton LLP. He provides the full range of employment and benefits advice on transactions and stand-alone employment matters. He has substantial experience of advising on the employment and benefits aspects of various transactions, including UK listings, share and asset acquisitions and disposals (both UK-based and multi-jurisdictional transactions), joint ventures and other transactions. He provides the full range of stand-alone employment advice including the implementation of employment and benefit arrangements for senior executives, implementing executive severance arrangements, managing UK and international redundancy exercises and related consultation requirements, the establishment of share incentive and bonus plans, employment litigation involving restrictive covenants, unfair and wrongful dismissal and discrimination issues. He also advises on compliance with regulatory requirements on remuneration, in particular the FCA/PRA’s Remuneration Codes and, at a European level, CRDV....

Web page updated on 22/05/2026

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