Letter of Intent_SOP
Non binding preliminary agreement to demonstrate intent and declare preliminary commitment to reward and motivate advisors and Board members, while increasing Company resources
Key Areas of Coverage
Share Option Plan
Strategic Incentive
Compensation
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High Level Description
Short non-binding agreement to declare preliminary commitment. Similar to a Term Sheet, the Letter of Intent precedes the binding agreement to come, and serves to outline key terms of the Share Option Plan, while reflecting talent contributions
When to use Template
Can be used when the particulars of the Stock Option Plan scheme are not fully formulated, to demonstrate intent and incentivize work force
Why use Template
Non binding preliminary agreement to demonstrate intent and declare preliminary commitment to reward and motivate advisors and Board members, while increasing Company resources
Additional Information
Opportunity to attract talent and allow for participation in Company successes
Do it with passion or not at all
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