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Option Cancellation Agreement
"I need an Option Cancellation Agreement under Swiss law to terminate 10,000 employee stock options granted to our departing CTO, with a cash consideration of CHF 50,000 to be paid by March 15, 2025."
1. Parties: Identification of the option grantor and option holder(s)
2. Background: Description of the original option grant, reference to original agreement, and circumstances leading to cancellation
3. Definitions: Key terms used in the agreement, including 'Option Agreement', 'Cancellation Date', and any specific terms from the original option agreement
4. Cancellation: Clear statement of the parties' agreement to cancel the options and the effective date of cancellation
5. Consideration: Details of any payment or other consideration for the cancellation
6. Mutual Releases: Parties' mutual release from obligations under the original option agreement
7. Tax Matters: Acknowledgment of tax consequences and responsibilities
8. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction for disputes
1. Partial Cancellation: Required if only some options are being cancelled while others remain in effect
2. Surviving Provisions: Needed if certain provisions from the original agreement should survive cancellation
3. Confidentiality: Include if parties wish to keep the cancellation terms confidential
4. Return of Documents: Include if physical option certificates or other documents need to be returned
5. Corporate Approvals: Required if either party needs board or shareholder approval for the cancellation
6. Employment Status: Include if the options were employment-related and employment status needs to be addressed
1. Schedule 1 - Cancelled Options: Detailed list of options being cancelled, including grant dates, exercise prices, and vesting status
2. Schedule 2 - Payment Details: If applicable, breakdown of any consideration and payment mechanics
3. Schedule 3 - Original Option Agreement: Copy or extract of relevant parts of the original option agreement being cancelled
4. Schedule 4 - Corporate Resolutions: If applicable, copies of required corporate approvals for the cancellation
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Financial Services
Technology
Start-ups
Private Equity
Venture Capital
Professional Services
Manufacturing
Telecommunications
Healthcare
Real Estate
Legal
Human Resources
Finance
Corporate Governance
Compliance
Executive Management
Board Secretariat
Compensation
Investment
Treasury
Chief Executive Officer
Chief Financial Officer
General Counsel
Corporate Secretary
HR Director
Compensation Manager
Legal Counsel
Corporate Governance Officer
Equity Compensation Manager
Finance Manager
Board Member
Company Director
Investment Manager
Compliance Officer
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