This article explains how to setup Shoobx exercises to include custom exercise agreements. This might be useful if you need your exercise to include extra documents, for example a joinder to a voting rights agreement.
You'll find these settings by going to the Administration dashboard, and then going to Workflow Administration > Exercise Options. On this screen you'll see a "Additional Restriction Agreement for Plan Shares" section. Any documents you include here will apply to all grant recipients that are exercising options granted under your plan.
Clicking "Add" in the "Additional Restriction Agreement for Plan Shares" section will prompt Shoobx to ask you to input:
- Additional Restriction Agreement for Plan Shares document. This document must have no blanks. For example, if your document contains, "As of [insert today's date]," you may consider working with your lawyer to eliminate these blanks and inserting language that needs no filling in such as, "As of the date stated below." Work with your lawyer to change any legal documents they've given you.
- Signing Statement. The default signing statement in Shoobx reads, "IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year below." but you can customize this based on your needs. This will appear on the signature page above the recipient's signature block.
- Context Documents for Restriction Agreement. This is optional. If the additional document makes reference to another document you can select or upload that document here. For example, if the custom document is a joinder to a voting rights agreement, you can select the original voting rights agreement here so the signer will be granted access to it. This may also be used for an explanation or instructional document to be distributed along with the Additional Restriction Agreement.
Once you setup these documents in Admin, an employee exercising will have a slightly different experience—they will be presented with an additional document for signature when exercising their options. The screenshots below illustrate first the exercise experience for an employee in a Shoobx account where no additional documents have been added, and second the exercise experience for an employee in a Shoobx account where the exercise has been customized to include extra documents.
Shoobx will add a signature page containing the signing statement and a signature block to whatever additional restriction document you've uploaded. No blanks in the restriction document will be filled in, which is why eliminating the blanks before you set the document up in Shoobx is essential.
If you require any assistance with this workflow, please reach out to email@example.com anytime.