Make sure you fill both the Option Agreement and the Employee Share Option Plan
Double check all the info you type before submiting
Have a clear understanding of what an ESOP is and how it works before creating an ESOP document
Make sure that you consult with a qualified attorney who is well-versed in employee benefits law to ensure that the document is properly drafted
Be aware of the tax consequences of creating an ESOP and consult with a tax advisor to ensure that you are taking advantage of all available tax benefits
Make sure that you have a clear understanding of the company's financial situation before creating an ESOP document, as this will impact the amount of stock that can be allocated to employees
Determine whether or not the company will be conducting a stock offering in connection with the creation of the ESOP and consult with securities counsel to ensure that all applicable securities laws are complied with
Be sure to include all required information in the ESOP document, such as the name and address of the company, the number of shares of stock to be allocated, and the terms and conditions of the plan
Make sure that you have received approval from the company's board of directors (or other governing body) before creating an ESOP document
