Cross-option agreement

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Cross-option agreement
  • background:
  • 1 Definitions and interpretation
  • 2 Grant of Options
  • 3 Call Option Period and Put Option Period
  • 4 Dividends
  • 5 Exercise of Options
  • 6 Completion
  • 7 Policies
  • 8 Warranties
  • More...

Cross-option agreement

This Agreement is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [Insert name of shareholder] of [insert address];

  1. 2

    [Insert name of shareholder] of [insert address];

  1. 3

    [Insert name of shareholder] of [insert address]; and

  1. 4

    [Insert name of shareholder] of [insert address];

(each a party and together, the parties).

background:

    1. (A)

      Together, the parties are the legal and beneficial owners of the entire issued share capital of the Company (as defined below).

    1. (B)

      Each Shareholder (as defined below) has agreed to make provision for the transfer of the legal and beneficial ownership of their shares in the Company in the event of their death on the terms of this agreement.

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this agreement:

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday, on which clearing banks are open for non-automated commercial business in the City of London;

        Call Option

        1. means an option granted pursuant to clause 2.1.1;

        Call Option Period

        1. has the meaning given to it in clause 3.1;

        Company

        1. means [insert name] Limited, a private company limited by shares incorporated in [insert country] under company number [insert company number], the registered office of which is at [insert address];

        Completion

        1. has the meaning given to it in clause 6.1;

        Completion Date

        1. has the meaning given to it in clause 6.1;

        Consideration

        1. means the consideration for the Option Shares as determined in accordance

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