Generate your option plan Click the blue (+) button, choose the relevant jurisdiction from the dropdown and select Share Incentive Plan or Equity Incentive Plan for Delaware.
Complete the form Complete each field in the form and select your various options, including the pool of shares you want to set aside for your ESOP.
Adopt the option incentive plan Once you generate the plan, you can save it in draft, edit it and when final, send it for signature through our built-in DocuSign integration. It will be signed by way of a board resolution adopting the plan (the actual plan itself is not signed). Clara will take care of all that for you.
Repeat for grant agreements Now that your plan is in place and ESOP pool set aside, you can start issuing options to team members. Just go back to the Generate Documents tab, select Grant Agreement, complete the form and sign it when you’re ready.
Arrange for exercise notices Clara will automatically remind you when an upcoming vesting date is near and pre-populate an exercise notice ready for your team member to sign and send back to you, right on the platform.
An essential guide to ESOPs An ESOP is a way for you to set aside a pool of shares in your startup that you can allocate to various team members (e.g. employees, consultants or advisors – that’s right, it’s not just for employees, notwithstanding the name). The ESOP sets out the rules for granting shares. Clara Oct 25 · 8-minute read
Competing with corporate salaries | How Share Incentive Plans help attract top talent A Share Incentive Plan (also known as a SIP or an Employee Share Option Plan or ‘ESOP’), sets aside a pool of your company’s shares that you can allocate in the future to employees, directors, advisors and consultants, incentivising them to contribute to your startup’s success and growth. Startups Jul 07 · 4-minute read