1. Vestd Help Centre
  2. Shares, Growth Shares and Options

What are the alternatives for executing my existing scheme documents on Vestd

This article lays out the options for a company who want to use their existing scheme documentation through the Vestd platform

Many of our customers use their own share scheme documents on Vestd, rather than our standard precedents.  In these cases there are a number of alternative ways of doing it, and a conversation with us is usually best to finalise the most appropriate way forward.  Having said that, this article lays out the most common alternatives.

1. Create and execute the documents off platform and then upload as a pdf - this option is typically chosen if your existing agreements are deeds, and your lawyers are unwilling to adapt them.

2. For Vestd to turn your existing agreement into a template on the platform, such that all your new agreements are automatically generated by the platform.  This is what most people choose who expect a large number of agreements (10+) to be issued going forwards.  If the existing agreement is a deed, it will be necessary to adapt the clauses that explicitly grant a Power of Attorney (thus requiring it to be executed as a deed), such that granting the POA becomes a commercial condition if required on exercise.

In terms of exercising the agreement, most people also adapt the signature section of their agreement such that it can be electronically offered and accepted via the platform.  Alternatively, it is possible to leave it such that a docusign signature is required for both company and recipient.

In either of these cases, all new option agreements are simply created through our standard agreement generation process, according to your scheme rules, and using your own documentation as a starting point.