Cross-option agreement
Cross-option agreement

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

  • Cross-option agreement
  • Parties
  • Recitals:

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Note: Brexit—drafting boilerplate clauses.

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).

Recitals:

    1. (A)

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

    2. (B)

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

The parties agree:

  1. 1

    Definitions and interpretation

    1. 1.1

    2. 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