Put Option Agreement: shares
Put option agreement over shares in a private limited company
What is a put option?
A put call option is a right of a seller – the holder of shares has the option to require (if the holder exercises the put option) that a third party purchases those shares. The seller is the optionholder in this case – the seller can “put” the shares to the buyer.
About this Put Option Agreement
This Put Option Agreement is for a call option over shares in a private limited company.
What are the main negotiation points for a put option agreement?
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 exercise period during which the seller may exercise the put option
- exercise price: the price payable for the shares
- 24 clauses over 14 pages
- put option grant, including 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 undertaking from the seller
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