Share option agreement: non-employee; exercisable on higher share valuation

United Kingdom

Updated: Apr 01, 2021


Zermina Siraj Ul Haq

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Zermina Siraj Ul Haq

Halcyon & Partners LLP

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Key description

  • This agreement covers a situation where the option holder is a contractor or an advisor and not employed by the company whose shares could be acquired. The option crystalises when the share valuation reaches a certain level.

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Covered clauses

General

  • Definitions

  • Contract Is Supplemental

  • Interpretation

  • Option Data

  • Grant of Option

  • Conditions For Exercise

  • Premature Termination of Service Contract

  • Warranties By The Company

  • Schedule 1: Notice of Exercise: Model Communication

  • Schedule 2: Vital Information Events and Information To Be Provided


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