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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 50157
Experience:  Qualified Solicitor
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I signed a share plan with my company in view of

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i signed a share plan with my company in view of the next BO. i am now leaving this company .. they told us if you leave for non competing activities we will pay you back + 8% for the first 3 years of this plan.
but when i read again my contract i cannot see this ... can you help ?
Hello, my name is***** am a solicitor on this site and it is my pleasure to assist you with your question today. Was this promised to you verbally?
Customer: replied 2 years ago.
yes and we signed a contract that i attached
OK so you have this signed agreement but it is not in your contract, is that right? Is the employer refusing to honour it?
Customer: replied 2 years ago.
yes i have my contract (employment) + this contract signed for the shares.i want to make sure the contract says i can get my money back before i speak to my employer
Customer: replied 2 years ago.
have you got the contract i attached ?
If you have the signed agreement you attached then that is a separate deed which is legally binding, it does not actually have to be part of your contract - the two documents can work side by side. So you would have two documents basically - one is the employment contract which deals with the more general aspects of your employment and then this more specific document which specifically deals with the share plan. Both would be legally binding and for the share plan agreement to be enforceable it does not actually have to be included within your contract of employment
Customer: replied 2 years ago.
ok so can you tell me whether i can get my money back when leaving ?
I will check the agreement in a bit more detail and get back to you later today, most likely in the evening. No need to reply in the meantime
Hello again, having checked the agreement I cannot see any reference to an obligation on the employer to buy back the shares if you were to leave the company. So as far as the written documentation is concerned I cannot see anything that would give you this right. Tis may have been agreed verbally between you and the employer and it could still be legally binding but you would have to raise it directly with them. It is then your word against your employer’s so it depends on whether they accept that such an agreement was made at the outset. If they do not agree theen it would be a matter of you trying to resolve fhis directly with them going back to what was agred or gping to court, although that should only be a last resort. Hope this clarifies?
Hello, I see you have read my response to your query. Please let me know if this has answered your original question or if you need me to clarify anything else for you in relation to this? If your query has been dealt with please take a second to leave a positive rating by selecting 3, 4 or 5 starts from the top of the page. If you need further help please get back to me on here and I will assist as best as I can. Thank you.
Customer: replied 2 years ago.
do you think there is another doc that would have the answer ?
Difficult to say - I would have expected it to be in this one as it is the formal share plan agreement but I obviously have no idea what the employer's intentions were and if they had issued a separate document, so you will have to ask them directly as only they know the answer.
Ben Jones and other Law Specialists are ready to help you
Customer: replied 2 years ago.
ok thank you - it is helpful