{"id":4526,"date":"2016-04-04T10:47:33","date_gmt":"2016-04-04T15:47:33","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/business-lawyer-resources\/meeting-with-a-lawyer-nbsp-employee-stock-option-plans.html"},"modified":"2024-05-23T01:05:39","modified_gmt":"2024-05-23T06:05:39","slug":"meeting-with-a-lawyer-nbsp-employee-stock-option-plans","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-lawyer-resources\/meeting-with-a-lawyer-nbsp-employee-stock-option-plans.html","title":{"rendered":"Meeting with a Lawyer: Employee Stock Option Plans"},"content":{"rendered":"\n<div class=\"fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30  wp-container-core-columns-is-layout-9d6595d7 fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30\">\n    \n    <div class=\"fl-section-main fl-page-articles fl-section-main fl-section-main-full-width\">\n        <h1 class=\"fl-no-margin-top\">Meeting with a Lawyer: Employee Stock Option Plans<\/h1>\n<section class=\"fl-gutenberg-byline\">\n    <div class=\"fl-gutenberg-byline-content\">\n                    <p><i>Created by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw&#8217;s team<\/a> of legal writers and editors<\/i><\/p>\n\n                | Last updated\n        <time>\n                            May 23, 2024\n                    <\/time>\n    <\/div>\n\n            <div class=\"fl-gutenberg-byline-editorial-note fl-text-sm\">\n            <p>Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n        <\/div>\n    \n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-legally-reviewed\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Legally Reviewed\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>This article has been written and reviewed for legal accuracy, clarity, and style by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with <a href=\"https:\/\/www.findlaw.com\/company\/company-history\/editorial-policy.html\">our editorial standards<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n\n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-fast-checked\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Fact-Checked\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>The last updated date refers to the last time this article was reviewed by FindLaw or one of our <a href=\"https:\/\/www.findlaw.com\/company\/our-team\/contributing-authors.html\">contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please <a href=\"https:\/\/lawyers.findlaw.com\/?fli=bylinelink\" target=\"_blank\" rel=\"noopener\">contact an attorney in your area<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n<\/section>\n<p style=\"text-align: right;\">Also available in <a href=\"https://www.findlaw.com/static/f/files\/rsrc\/public\/docs\/be12_9_intake_formx.pdf\" target=\"_blank\" rel=\"noopener\">PDF<\/a> | <a href=\"https://www.findlaw.com/static/f/files\/rsrc\/public\/docs\/be12_9_intake_formx.doc\" target=\"_blank\" rel=\"noopener\">MS Word<\/a><\/p>\n<p>This document is designed to help you collect a variety of information about your company in order to assist your attorney in assessing your company&#8217;s situation and advise you about creating an employee stock option plan (ESOP). You should also collect the following documents (if they exist) to include in the file you&#8217;ll take to your attorney:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.findlaw.com\/smallbusiness\/business-finances\/user-friendly-annual-report-questionnaire.html\" adhocenable=\"false\">Annual report<\/a> (if there is one)<\/li>\n<li>Recent prospectus or private placement memorandum<\/li>\n<li>Recent <a href=\"https:\/\/www.findlaw.com\/smallbusiness\/business-finances\/financial-statements-the-balance-sheet.html\" adhocenable=\"false\">financial statement<\/a><\/li>\n<li>Summary plan descriptions of current <a href=\"https:\/\/www.findlaw.com\/smallbusiness\/employment-law-and-human-resources\/choosing-the-right-health-plan-for-your-employees.html\" adhocenable=\"false\">employee benefit plans<\/a><\/li>\n<\/ul>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"7\" border=\"0\" style=\"font-size: 12px; font-family: sans-serif;\">\n<tbody><tr><td><p>Today&#8217;s Date: __________________<\/p>\n<p><b><u>General Information<\/u><\/b><\/p>\n<p>Name of Company:&nbsp;&nbsp; ________________________________________<\/p>\n<p>Company Address:&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zip<\/p>\n<p>Contact Person:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>Telephone Number:&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Area Code&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extension<\/p>\n<p>E-mail Address:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>Name of Accountant: ________________________________________<\/p>\n<p>Telephone Number:&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Area Code&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extension<\/p>\n<p><b><u>BUSINESS INFORMATION<\/u><\/b><\/p>\n<p>What business is the company in?______________________________<\/p>\n<p>_________________________________________________________<\/p>\n<p>Business form:<\/p>\n<p>_____&nbsp; Corporation&nbsp;&nbsp; _____&nbsp; Partnership&nbsp;&nbsp;&nbsp;&nbsp; _____&nbsp;&nbsp; Sole-proprietorship<\/p>\n<p>If your company is a corporation,<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in what state is the company incorporated?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; what kind of tax treatment does it have?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; &quot;C&quot; corporation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; &quot;S&quot; corporation<\/p>\n<p>Affiliated companies, parent or subsidiaries:<\/p>\n<p><u>Name of Company<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Relationship to Your Company<\/u><\/p>\n<p>_________________________&nbsp;&nbsp; ____________________________<\/p>\n<p>_________________________&nbsp;&nbsp; ____________________________<\/p>\n<p>_________________________&nbsp;&nbsp; ____________________________<\/p>\n<p><b><u>Stock Information<\/u><\/b><\/p>\n<p>Is your company&#8217;s stock publicly traded?&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes ______&nbsp;&nbsp; No<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If &quot;yes,&quot; which stock exchange?&nbsp;&nbsp;&nbsp;&nbsp; ______________________<\/p>\n<p>How many shareholders are there? &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________<\/p>\n<p>(Provide an estimate if your company is publicly traded.)<\/p>\n<p>How many stockholders hold 5% or<\/p>\n<p>more of the company&#8217;s stock?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________<\/p>\n<p>What percentages of stock do your <i>major<\/i> shareholders own? (List from<\/p>\n<p>most to least (5%).)<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________________________&nbsp;&nbsp;&nbsp;&nbsp; ______________%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________________________&nbsp;&nbsp;&nbsp;&nbsp; _____________%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________________________&nbsp;&nbsp;&nbsp;&nbsp; _____________%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________________________&nbsp;&nbsp;&nbsp;&nbsp; _____________%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________________________&nbsp;&nbsp;&nbsp;&nbsp; _____________%<\/p>\n<p>Are major shareholders active in the business?&nbsp; _____&nbsp;&nbsp; Yes&nbsp; _____&nbsp; No<\/p>\n<p>Are family members of major shareholders active in the business<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you answered &quot;Yes,&quot;&nbsp; what are the relationships?<\/p>\n<p><u>Stockholder<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Family Member<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Relationship<\/u><\/p>\n<p>_________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________&nbsp;&nbsp;&nbsp; ________________<\/p>\n<p>_________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________&nbsp;&nbsp;&nbsp; ________________<\/p>\n<p>_________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________&nbsp;&nbsp;&nbsp; ________________<\/p>\n<p>_________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________&nbsp;&nbsp;&nbsp; ________________<\/p>\n<p>_________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ___________________&nbsp;&nbsp;&nbsp; ________________<\/p>\n<p>What classes of stock are outstanding?<\/p>\n<p>_____&nbsp;&nbsp; Common shares&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _____&nbsp;&nbsp; Preferred shares&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Other<\/p>\n<p>Please provide more detail about the classes of stock if appropriate.&nbsp;<\/p>\n<p>__________________________________________________________<\/p>\n<p>__________________________________________________________<\/p>\n<p>__________________________________________________________<\/p>\n<p>Is any sale of stock pending?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p>Are any options or warrants outstanding?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p><b><u>Tax Information<\/u><\/b><\/p>\n<p>What tax bracket is the company in this year?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________<\/p>\n<p>What bracket do you expect the company to be in next year?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________<\/p>\n<p>How is your company taxed?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; &quot;C&quot; corporation&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp;&nbsp;&nbsp; &quot;S&quot; corporation<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other: ________________________________________<\/p>\n<p>Past taxable income and federal taxes:<\/p>\n<p><u>Net taxable income<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Federal taxes paid<\/u><\/p>\n<p>1997&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>1998&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>1999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>2001&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>Projected taxable income and federal taxes:<\/p>\n<p><u>Net taxable income<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Federal taxes paid<\/u><\/p>\n<p>2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>2001&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________<\/p>\n<p>2002&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $_______________________<\/p>\n<p>2003&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $______________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $_______________________<\/p>\n<p><b><u>Employee Information<\/u><\/b><\/p>\n<p>How many employees does your company have?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________<\/p>\n<p>How may of your employees are unionized?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________<\/p>\n<p>What is the total payroll?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $___________<\/p>\n<p>What portion of the payroll is for unionized employees? $___________<\/p>\n<p>Do you plan to include unionized employees?&nbsp;&nbsp;&nbsp; ______ Yes______ No<\/p>\n<p>As a percentage, how long have your employees been with the company?&nbsp;<\/p>\n<p>0-6 months&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _________%<\/p>\n<p>6 mos. to 1 year&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _________%<\/p>\n<p>1-3 years &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _________%<\/p>\n<p>4-5 years &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _________%<\/p>\n<p>&gt; 5 years &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _________%<\/p>\n<p><b><u>Current Key Employees And Officers<\/u><\/b><\/p>\n<p>Name: ________________________________________<\/p>\n<p>Position:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>Age:&nbsp;&nbsp; __________ Compensation:________________<\/p>\n<p>Stock ownership:&nbsp;&nbsp;&nbsp;&nbsp; _______________ %<\/p>\n<p>Name: ________________________________________<\/p>\n<p>Position:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>Age:&nbsp;&nbsp; __________ Compensation:__________________<\/p>\n<p>Stock ownership:&nbsp;&nbsp;&nbsp;&nbsp; _______________ %<\/p>\n<p>Name: __________________________________________<\/p>\n<p>Position:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________________________________<\/p>\n<p>Age:&nbsp;&nbsp; __________ Compensation:__________________<\/p>\n<p>Stock ownership:&nbsp;&nbsp;&nbsp;&nbsp; _______________ %<\/p>\n<p>Name: __________________________________________<\/p>\n<p>Position:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________________________________<\/p>\n<p>Age:&nbsp;&nbsp; __________ Compensation:__________________<\/p>\n<p>Stock ownership:&nbsp;&nbsp;&nbsp;&nbsp; _______________ %<\/p>\n<p><b><u>Possible Future Key Employees<\/u><\/b><u><\/u><\/p>\n<p>Name: ___________________________________________<\/p>\n<p>Current Position:&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p>Potential Position:&nbsp;&nbsp; _______________________________<\/p>\n<p>Compensation:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p>Name: ___________________________________________<\/p>\n<p>Current Position:&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p>Potential Position:&nbsp;&nbsp; _______________________________<\/p>\n<p>Compensation:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p>Name: ___________________________________________<\/p>\n<p>Current Position:&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p>Potential Position:&nbsp;&nbsp; _______________________________<\/p>\n<p>Compensation:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________________<\/p>\n<p><b><u>Employee Benefits<\/u><\/b><\/p>\n<p>Does your company currently have any <i>qualified<\/i> benefit plans?&nbsp;<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p>Please provide the following information about your company&#8217;s employee benefit plans.&nbsp;<\/p>\n<p><u>Retirement Plans<\/u><\/p>\n<p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current assets:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution expressed as a percentage of pay: ______%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Type of Investments:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current assets:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution expressed as a percentage of pay: ______%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Type of Investments:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current assets:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contribution expressed as a percentage of pay: ______%<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Type of Investments:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p><u>Welfare Plans<\/u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefits offered:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefits offered:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benefits offered:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ____________________________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; __________________________________<\/p>\n<p>Does your company have any <i>unqualified<\/i> plans?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p>If yes, what kind of plans are they and how many employees participate?<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ___________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of participants:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; _____________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ___________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of participants:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; _____________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kind of plan: ___________________________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of participants:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost to company:&nbsp;&nbsp;&nbsp; _____________________________<\/p>\n<p>Are any of the company&#8217;s qualified plans &quot;<i>top heavy<\/i>?&quot;<\/p>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______&nbsp;&nbsp; No<\/p>\n<p><b><u>Financial Information<\/u><\/b><\/p>\n<p>Current valuation, as of _______________:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $________________<\/p>\n<p>Who provided the valuation of your company?&nbsp;&nbsp; __________________<\/p>\n<p>____________________________________________________________<\/p>\n<p>Retained earnings, as of&nbsp; ______________:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $_________________<\/p>\n<p><b><u>Why Do You Want To Create An ESOP?<\/u><\/b><\/p>\n<p>______&nbsp;&nbsp; To motivate employees<\/p>\n<p>______&nbsp;&nbsp; To convert current profit-sharing plan, accounted for as an expense<\/p>\n<p>______&nbsp;&nbsp; To obtain working capital<\/p>\n<p>______&nbsp;&nbsp; To refinance existing debt<\/p>\n<p>______&nbsp;&nbsp; To increase cash flow by creating tax deductions<\/p>\n<p>______&nbsp;&nbsp; To pass control of the business<\/p>\n<p>______&nbsp;&nbsp; To aid in estate planning<\/p>\n<p>______&nbsp;&nbsp; To guard against corporate takeovers<\/p>\n<p>______&nbsp;&nbsp; Other&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please describe:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________<\/p>\n<\/td>\n<\/tr><\/tbody><\/table>\n<h2>Find the Right Attorney for Your Stock Option Plan<\/h2>\n<p>Offering stock options is a great way to attract top talent to a startup that has yet to make a profit, as it directly rewards their effort in building the company. Find the right <a href=\"https:\/\/lawyers.findlaw.com\/business-commercial-law\/\" adhocenable=\"false\" target=\"_blank\" rel=\"noopener\">business and commercial law attorney<\/a> near you for professional assistance.<\/p>\n<p>See <a href=\"https:\/\/www.findlaw.com\/smallbusiness\/business-finances\/basic-terms-for-shareholders-and-investors.html\">Basic Terms for Shareholders and Investors<\/a> for more information.<\/p>\n<div class=\"was-this-helpful\">\n    <div\n            class=\"was-this-helpful__question-container\"\n            aria-labelledby=\"was-this-helpful__question\"\n            role=\"group\"\n    >\n        <span\n                id=\"was-this-helpful__question\"\n                class=\"was-this-helpful__question fl-text-lg-bold\"\n        >Was this helpful?<\/span>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"Yes\"\n                value=\"yes\"\n        >\n            <span 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id=\"Vector\"\n                              d=\"M16 0.999995H18.67C19.236 0.989986 19.7859 1.18813 20.2154 1.55681C20.645 1.9255 20.9242 2.43905 21 3V10C20.9242 10.5609 20.645 11.0745 20.2154 11.4432C19.7859 11.8119 19.236 12.01 18.67 12H16M9.00003 14V18C9.00003 18.7956 9.3161 19.5587 9.87871 20.1213C10.4413 20.6839 11.2044 21 12 21L16 12V0.999995H4.72003C4.2377 0.994543 3.76965 1.16359 3.40212 1.47599C3.0346 1.78839 2.79235 2.22309 2.72003 2.7L1.34003 11.7C1.29652 11.9866 1.31586 12.2793 1.39669 12.5577C1.47753 12.8362 1.61793 13.0937 1.80817 13.3125C1.99842 13.5313 2.23395 13.7061 2.49846 13.8248C2.76297 13.9435 3.05012 14.0033 3.34003 14H9.00003Z\"\n                              stroke=\"#666666\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n                    <\/g>\n                    <defs>\n                        <clipPath id=\"clip0_604_3423\">\n                            <rect width=\"22\" height=\"22\" fill=\"white\"\/>\n                       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company&#8217;s<\/p>\n","protected":false},"author":41135,"featured_media":0,"parent":4518,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"app\/Http\/Controllers\/Templates\/ArticleWithBreadcrumbsController.php","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_autodraft_ids":[],"_cloudinary_featured_overwrite":false,"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_show_comment_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","footnotes":"","cf_checklist_status":[]},"categories":[2],"tags":[9],"state_laws_tags":[],"flmsa":[],"class_list":["post-4526","page","type-page","status-publish","hentry","category-smallbusiness","tag-aff-llc"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/4526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/users\/41135"}],"replies":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/comments?post=4526"}],"version-history":[{"count":0,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/4526\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/4518"}],"wp:attachment":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/media?parent=4526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/categories?post=4526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/tags?post=4526"},{"taxonomy":"state_laws_tags","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/state_laws_tags?post=4526"},{"taxonomy":"flmsa","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/flmsa?post=4526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}