Put Option Agreement: shares
Option Agreement for the grant by a potential buyer in favour of the holder of shares in a private limited company of a put option over the shares.
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When do I use this document?
- for the grant of a put option over shares in a private limited company
- where the agreement does not include a corresponding call option
What are the key features?
- 24 clauses over 14 pages
- grant of the put option, with related definitions of option shares, exercise conditions and exercise period
- put option exercise and form of exercise notice
- mechanics for sale and purchase of option shares
- warranties and undertakings from the seller
What else do I need to know?
The principal matters which the parties to a put option agreement will need to negotiate include:
- option shares: the number of option shares
- exercise conditions: whether the put option exercise is subject to satisfaction of any pre-conditions
- exercise period: the time period during which the seller may exercise the put option
- exercise price: the price payable for the shares
Guidance that comes with this template will help you negotiate these matters.
What other docs are available?
For alternative option agreements over shares, see:
When do I use this document?
- for the grant of a put option over shares in a private limited company
- where the agreement does not include a corresponding call option
What are the key features?
- 24 clauses over 14 pages
- grant of the put option, with related definitions of option shares, exercise conditions and exercise period
- put option exercise and form of exercise notice
- mechanics for sale and purchase of option shares
- warranties and undertakings from the seller
What else do I need to know?
The principal matters which the parties to a put option agreement will need to negotiate include:
- option shares: the number of option shares
- exercise conditions: whether the put option exercise is subject to satisfaction of any pre-conditions
- exercise period: the time period during which the seller may exercise the put option
- exercise price: the price payable for the shares
Guidance that comes with this template will help you negotiate these matters.
What other docs are available?
For alternative option agreements over shares, see:
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Updated by a lawyer on 23/05/2023
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