Tex. Gov't Code Section 4005.013
Compensation Plans and Contracts

The exemption provided by Section 4005.001 (Scope of Exemption) applies to the sale or distribution of a security without any public solicitation or advertisement if the sale or distribution is made:


by an issuer of the security or any participating subsidiary of the issuer; and


under a bona fide thrift, savings, stock purchase, retirement, pension, profit-sharing, option, bonus, appreciation right, incentive, or similar written compensation plan or written compensation contract established by the issuer or the issuer’s subsidiary for the benefit of:


employees, directors, general partners, managers, or officers of the issuer or subsidiary;


the issuer’s or subsidiary’s trustees, if the issuer or subsidiary is a business trust; or


consultants or advisers who provide to the issuer or subsidiary bona fide services unrelated to the offer or sale of securities in a capital-raising transaction.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.

Source: Section 4005.013 — Compensation Plans and Contracts, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­4005.­htm#4005.­013 (accessed Jun. 5, 2024).

Jun. 5, 2024

§ 4005.013’s source at texas​.gov