Standalone unapproved share option agreement for non–employee

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

  • Standalone unapproved share option agreement for non–employee

Standalone unapproved share option agreement for non–employee

This AGREEMENT is made on [insert date of execution of the share option agreement]

Parties

  1. 1

    [insert name of company whose shares are being granted under option] (registered number [insert registered number of company]) whose registered office is at [insert registered address of company] (the Company);[and];

  1. 2

    [insert name of option holder] of [insert address of option holder] (the Option Holder) [;and]

  1. 3

    [[insert name of grantor (if different from company)] of [insert address of grantor] (the Grantor)]

Background

    1. (A)

      [The Company has agreed to grant to the Option Holder as at the date of this Agreement an Option to acquire Shares on the terms set out in this Agreement. OR The Company and the Grantor intend that, as at the date of this Agreement, the Option Holder be granted an Option to acquire Shares on the terms set out in this Agreement.]

    1. (B)

      [The Company will satisfy the exercise of the Option by transferring or procuring the transfer of Shares or issuing new Shares. OR The exercise of the Option is intended to be satisfied by the Grantor with existing Shares that the Grantor holds in the Company.]

    1. (C)

      The Option is a not a tax-advantaged option.

    1. 1

      Definitions

      In this Agreement, except where the context otherwise requires, the words and expressions set out below will bear the following meanings, namely:

      Contract

      1. means the agreement

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