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Document: Stockholder Approval of Equity Incentive Plan

The Stockholder Approval of Equity Incentive Plan is one of a group of documents that allows the stockholders of your startup to formally sanction or approve a “resolution” of your startup’s board of directors. A resolution is a decision or objective that has been voted on (and was agreed to) by your startup’s board members. A formal sanctioning or approval from your startup’s stockholders is generally reserved for important or significant board resolutions – examples of this sort are the approval of an Equity Incentive Plan, and the indemnification of a given individual or entity by your startup. Many less-impactful decisions involving your startup will be discussed and voted on by board members (replacing a non-critical vendor or changing the appearance of your employees’ uniforms might qualify), however those votes should not require formal sanction from stockholders.

A Stockholder Approval of Equity Incentive Plan authorizes the adoption of the Equity Incentive Plan (Exhibit A). The Equity Incentive Plan calls for a given number of your startup’s shares of Common Stock to be reserved for issuance, and for your startup’s officers to take whatever legal steps are necessary to facilitate this process.

Stockholder Approval of Equity Incentive Plan


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