This article provides instructions on how to enable employees to add a nominated affiliate (such as a trust) to hold their options in Australia. It includes steps for administrators to enable this feature in the option plan settings and guides employees on adding trust details when accepting an offer.
1. Enabling Nominated Affiliate Option in Option Plan Settings 🛠️
To allow employees to nominate a trust to hold their options, follow these steps:
Create your option plan and click on "View pool."
Under Australia (see Countries), click on "View details."
On the next page, click "Edit" in the top right corner.
Toggle the switch for "Allow optionholders to nominate a trust" to enable this feature for all Australian employees within the pool.
2. Enabling Nominated Affiliate Option for Individual Offers 📃
If you prefer to enable the nominated affiliate option on a per-offer basis, follow these steps:
While setting up a new offer, go through the editing wizard.
Scroll to the bottom and click into "Advanced settings."
Here, you will find the toggle for the nominated affiliate option. Activate it to allow the employee to add trust details when accepting the offer.
3. Including Relevant Variables in Agreement Templates 📑📊
Ensure that you have the necessary variables (Trustee Name & Trust Name) inserted into your agreement templates. This will ensure that the employee's nominated affiliate details are accurately populated in the contract. Check and update your templates accordingly to reflect this information.
4. Employee's Guide: Adding Trust Details to Accept an Offer 👥💼
To add trust details when accepting an offer as an employee, follow these steps:
Upon receiving your new offer, start by confirming your personal information in the first section.
Click into the "Advanced Settings" section.
Check the box for "Held in trust" to indicate your intention to add a nominated affiliate.
Three additional fields will appear: Trustee type (individual, joint, or corporate trustee), Trustee name, and Trust name.
Provide the required information related to your nominated affiliate (trust) in these fields.
By following these steps, administrators can enable the option for employees to nominate a trust, and employees can easily add trust details when accepting their offers, streamlining the process for holding options in Australia.
📌 Note: If you have any further questions or need assistance, reach out to the Cake support team on the chat 💬 for more guidance!