Growth · Template 16 of 40
Use it when giving options to non-employees (advisers, contractors).
Plus a schedule of the commercial details and signature blocks where the document needs them.
The first part of the template, as it reads in Word. Blanks are shown as lines; the drafting notes sit in the margin of the file.
SHARE OPTION AGREEMENT (UNAPPROVED)
This Share Option Agreement is made on ____________________ (the “Grant Date”) between:
(1) ____________________ LTD, a company registered in England and Wales (registration number ____________) whose registered office is at ______________________________________________ (the “Company”); and
(2) ____________________ of ______________________________________________ (the “Optionholder”).
1. Definitions
“Articles”: the Company’s articles of association from time to time.
“Board”: the board of directors of the Company.
“Business Day”: a day other than a Saturday, Sunday or public holiday in England.
“Exit”: (a) a sale of all or substantially all of the issued shares in the Company, (b) a sale of all or substantially all of its business and assets, or (c) a listing of the Company’s shares on a recognised investment exchange.
“Services Agreement”: the agreement or arrangement under which the Optionholder provides services to the Company, as described in Schedule 1.
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