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There is a way that seemeth to a man right: and the ends thereof lead to death.
The subtle network of habits and daily occupations enveloped him little by little.
This is not an agreement that could have been made orally. This Article analyzes three forms of secret option backdating 1 the backdating of executives' option grants; 2 the backdating of nonexecutive employees' option grants; and 3 the backdating of executives' option exercises. “Backdating is totally legal if you disclose that it's done,” said Business Edge Solutions compliance expert Phil Dina. Deceit, fraud or bad intent are not required for the propriety or legal compliance of a company's stock option grant practices to be challenged.
Unfortunately, there is no simple or straight forward answer to this and it comes down to how comfortable the lawyer will be defending his position in agreeing to backdate the document if his judgment was wrong and the authorities challenge the document, possibly in a criminal complaint against the client. Most businesses or executives avoid options backdating; executives who receive stock options as part of their compensation, are given an exercise price that is equivalent to the closing stock price on the date the options grant is issued. In fact, many of the practices currently under scrutiny may have been.…
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I am sure that from time to time we have all come across the vexed question of backdating documents.
A client or, in the case of an in house lawyer colleague (who for the purposes of this article will also be considered a client), asks you to prepare a document and then your heart sinks as he says “oh and it has to be dated” and gives a date which has already passed.
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