Award Definition

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GLOSSARY

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What does Award mean?

Generally, a final, binding decision of the arbitral tribunal on the substantive dispute between the parties. Arbitral awards may also be interim (ie they have temporary, not final, effect) and partial (ie deciding one or more, but not all, of the issues in the dispute on a final, binding basis).

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Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack

Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...

Drafting checklist for claim or response—unfair dismissal: redundancy

Drafting checklist for claim or response—unfair dismissal: redundancy Both parties • Was the Claimant an employee? See Practice Notes: Entitlement to claim unfair dismissal—Eligibility and Employee status • Did the Claimant have requisite qualifying service, or does an exception apply? See Practice Note: Qualifying period for unfair dismissal • Has the Claimant complied with the requirement for early conciliation or does one of the exemptions apply? See Practice Note: The early conciliation requirement • Is the claim brought within the three-month time limit, or the period as extended if the requirement for early conciliation applies? See Practice Notes: Unfair dismissal time limit and The early conciliation requirement—Extension to time limits (the 'stop the clock' provisions) • Is the contract of employment arguably void for illegality? See Practice Note: Entitlement to claim unfair dismissal—Illegality • Does the Claimant fall within a category of employee excluded from unfair dismissal protection, eg police constables. See Practice Note: Entitlement to claim unfair dismissal—Particular types of employment • Was the Claimant’s work based in Great...

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Disclosure—solicitors' obligations

Disclosure—solicitors' obligations This Practice Note identifies solicitors’ obligations in relation to disclosure to their client and the court. It also explains the need to preserve documents, provide the required disclosure and co-operate with the other side particularly in relation to electronic disclosure (e-disclosure). This Practice Note does not cover the provisions of the disclosure scheme operating in the Business and Property Courts. For guidance, see: Disclosure scheme—overview. Obligations Throughout the disclosure process you have obligations to your client, to the court and in accordance with other relevant provisions. These include, but are not limited to: • advising your client of the need to preserve documents—see further: Preservation of documents • ensuring your client complies with all relevant and applicable provisions and makes compliant disclosure—see further: Full disclosure • co-operating with the other side, specifically in relation to e-disclosure and/or where the claim is proceeding on the multi-track and does not involve a claim for personal injury—see further: Co-operating with the other side • a reasonable duty to manage...

Relief from sanctions—making or opposing an application

Relief from sanctions—making or opposing an application This Practice Note gives practical guidance on how to make or oppose (or defend) an application for relief from sanctions (RFS) under CPR 3.9. In particular, it covers the evidence in support of an application for relief, the evidence in response to a relief from sanctions application, costs issues in relief applications and how to appeal a decision granting or refusing relief. Throughout it offers general practical tips on applying for relief from sanctions. This Practice Note should be read in conjunction with Practice Notes: • How to make an application for a court order (CPR 23) • Relief from sanctions—when is an application for relief required? • Case management—compliance • Relief from sanctions—the courts’ approach • Relief from sanctions—illustrative decisions (from 1 January 2024); and • Interim applications—costs recovery See also Precedents: • Letter requesting consent to application for relief from sanctions • Letter responding to request for consent to relief from sanctions • Draft order for relief from sanctions...

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LTIP—restricted award certificate

LTIP—restricted award certificate [insert name of company who granted the award pursuant to the long term incentive plan (LTIP)] (Company) [insert name of LTIP] (Plan) Name Number of Shares under Award Date of Grant Normal Vesting date[, subject to satisfaction of Performance Targets] End of Holding Period This is to certify that you are the holder of a Restricted Award to acquire up to the maximum number of Shares in [insert name of Company whose shares are being granted under award] as stated in the table above. The Restricted Award was granted on the Date of Grant stated above under a global deed of grant executed by the Company [and is subject to the Performance Target(s) attached to this certificate]. The Restricted Award was granted under, and is subject to, the Rules of the Plan. The RULES REQUIRE YOU TO sign A PARTICIPANT AGREEMENT within [30] Days of the grant of the award IN ORDER TO CONFIRM YOUR ACCEPTANCE OF...

Precedent s 106A deed of variation/supplemental agreement

Precedent s 106A deed of variation/supplemental agreement AGREEMENT relating to Section 106 and 106A of the Town and Country Planning Act 1990 [and [insert other legislation]] in relation to the development at [insert address] This Agreement is made on [insert date] Parties 1 [insert name], of [insert address] ("Council"); 2 [insert name], of [insert address] (“County Council”); 3 [insert name], of [insert address] (“Owner”); and 4 [ Additional parties as necessary eg landlord, mortgagee, option holder etc. ] ("[insert additional parties as necessary eg landlord, mortgagee, option holder etc] "). Background (A) The Council is the local planning authority for the purposes of s 106 and s 106A of the 1990 Act for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (B) The County Council is the local highway authority for the area within which the Land is situated and is capable of enforcing the obligations in the Original Agreement. (C) [Recite ownership details...

Dive into our 198 Precedents related to Award

When can a local authority procure a different supplier to carry out works if the current provider hasn’t performed all aspects of the contract?

When can a local authority procure a different supplier to carry out works if the current provider hasn’t performed all aspects of the contract? Article 73 of Directive 2014/24/EU (the Public Contracts Directive) is implemented into English law by the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102. Article 73 of the Public Contracts Directive and PCR 2015, SI 2015/102, reg 73 provide for the situations in which a public contract may be terminated. Strictly, breach of the contract by the contractor is not one of the situations in which the contract can be terminated but it follows from ordinary principles of contract law, which are for national law, that a breach of contract may allow the innocent party to repudiate and therefore terminate the contract In that situation,

To what extent do arbitral tribunals (governed by English law) apply the Halsey approach following a failure to mediate under a tiered dispute resolution clause?

To what extent do arbitral tribunals (governed by English law) apply the Halsey approach following a failure to mediate under a tiered dispute resolution clause? The English courts have imposed costs sanctions on litigating parties who have unreasonably failed to mediate and one of the leading cases in this regard is Halsey v Milton Keynes General NHS Trust. See Practice Note: Costs consequences of refusing to consider ADR in civil proceedings for, among other matters, more information on that case and how it has been interpreted by the English courts in the context of litigation proceedings. One of public policy reasons for the English court’s decision to sanction parties in costs for unreasonable refusing to mediate in litigation is that the court resources are finite and, if possible, the parties should resolve their disputes without recourse to the courts or with limited court intervention. However, it may be suggested that no equivalent public policy exists in arbitration as arbitration is a private, consensual dispute resolution procedure...

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High Court judgment demonstrates usefulness of section 423 of the Insolvency Act 1986 in Schedule 1 claims (Re P (A Child) (Financial Provision))

Family analysis: In this Schedule 1 case the mother received, for her son’s benefit: a housing fund of nearly £1m (the property to be held on trust); child maintenance (including ‘HECSA’/carer’s allowance) until completion of his first degree; and lump sums in respect of his capital needs and her own substantial liabilities (chiefly relating to her unpaid legal fees). The father (whose resources could be measured in the ‘tens of millions of pounds’) had sought to prejudice the mother’s claims via transferring his valuable shares to family members, who then transferred the same into a trust structure (settled under Czech law). A further onwards transfer was then made of the trust’s assets into a Liechtenstein foundation. Inferences were drawn by the court in respect of the level of the father’s wealth, and specifically as to the value of the transferred shares. Detailed findings were made against him in respect of the identified transactions, which had been the focus of the mother’s section 423 application. Although a section 423(2) order was...

V & another v K—guidance on disclosure and bias in maritime arbitrations

Arbitration analysis: This judgment will be of particular interest to maritime arbitration practitioners, and also to those in arbitration more generally (both lawyers and arbitrators themselves). The Commercial Court has provided a detailed review of apparent bias and arbitral duties of disclosure in the context of the London maritime market, particularly London Maritime Arbitration Association (LMAA) arbitrations. The court has clarified the extent of a maritime arbitrator’s duties of disclosure, recognizing the London market practice for the same arbitrators to be appointed across multiple different disputes by the same appointing party. Given the practice is well known to those in this market, there is no duty of disclosure. The court has also underscored the difficulties of making out apparent bias: the threshold test is high and not easily met. The judgment reviews factors that the fair-minded observer would consider when considering whether there was a real possibility of bias. Written by Angharad Parry KC, barrister at Twenty Essex.

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