Letter granting an immediately exercisable unapproved share option
Letter granting an immediately exercisable unapproved share option

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

  • Letter granting an immediately exercisable unapproved share option

[TO BE PRINTED ON COMPANY HEADED NOTEPAPER]

[date]

To [insert name]

Right to acquire ordinary shares in the capital of [name of company]

  1. 1

    [insert name of company] (Company) hereby grants you an option (Option) to acquire [insert number] [insert class and nominal value of shares] in the capital of the Company (Shares) at an exercise price of £[insert exercise price per share] per Share (Exercise Price).

  2. 2

    The Option may be exercised from the date of this letter and shall lapse to the extent not exercised on [insert details, dates or events on which the option will lapse].

  3. 3

    If you wish to exercise the Option and acquire the Shares, you must:

    1. 3.1

      provide payment to the Company in respect of the Exercise Price per Share or otherwise enter into arrangements which are satisfactory to the Company to pay the Exercise Price per Share to the Company; and

    2. 3.2

      send to [insert name