¶¶Òõ¶ÌÊÓÆµ

Option Cancellation Agreement Template for Switzerland

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Option Cancellation Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

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."

Document background
The Option Cancellation Agreement is a crucial document used when parties wish to terminate existing option rights before their natural expiration or exercise. This agreement is particularly relevant in situations such as employee departures, corporate restructuring, or when alternative compensation arrangements are being implemented. Under Swiss law, it must comply with the Swiss Code of Obligations and potentially financial market regulations if the options relate to securities. The document typically includes details of the original option grant, the basis for cancellation, any consideration being paid, and mutual releases. It's essential for risk management and maintaining clear corporate records, especially in contexts involving equity-based compensation or investment arrangements.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
























Clauses






















Relevant Industries

Financial Services

Technology

Start-ups

Private Equity

Venture Capital

Professional Services

Manufacturing

Telecommunications

Healthcare

Real Estate

Relevant Teams

Legal

Human Resources

Finance

Corporate Governance

Compliance

Executive Management

Board Secretariat

Compensation

Investment

Treasury

Relevant Roles

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

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Property Options Contract

A Swiss law-governed agreement granting the right to purchase specific real estate property under predetermined terms and conditions within a defined period.

find out more

Option Agreement Contract

A Swiss law-governed agreement granting one party the right to enter into a specified transaction with another party under preset terms and conditions.

find out more

Buy Back Option Contract

A Swiss law-governed agreement granting the original seller the right to repurchase an asset from the buyer under specified terms and conditions.

find out more

Rental With Option To Buy Agreement

A Swiss law-governed agreement combining property rental terms with a future purchase option, structured according to the Swiss Code of Obligations.

find out more

Extend Lease Agreement

A Swiss-law governed agreement that extends an existing lease term while maintaining or modifying specific conditions in compliance with Swiss federal and cantonal regulations.

find out more

Option Cancellation Agreement

A Swiss law-governed agreement that terminates existing option rights between a grantor and holder, specifying cancellation terms and mutual releases.

find out more

Option Sales Contract

A Swiss-law governed contract granting rights to buy or sell specified assets under predetermined terms and conditions, compliant with Swiss financial regulations.

find out more

Repurchase Option Agreement

A Swiss law agreement granting the right to repurchase assets under specified terms and conditions, governed by the Swiss Code of Obligations.

find out more

Lease To Own Land Agreement

A Swiss law-governed agreement combining land lease with a future purchase option, establishing terms for both temporary use and eventual ownership transfer.

find out more

Lease To Own Business Contract

Swiss-law governed agreement enabling business operation under lease terms with a pathway to ownership through specified purchase conditions.

find out more

Purchase And Lease Agreement

A Swiss law-governed agreement combining property sale and leaseback arrangements, structured under the Swiss Code of Obligations and cantonal property laws.

find out more

Option To Lease Agreement

A Swiss law-governed agreement granting the right to enter into a future lease agreement for a specific property under predetermined terms and conditions.

find out more

Right Of First Refusal Agreement

A Swiss law-governed agreement granting one party the right to enter into a transaction before third parties, subject to specified terms and conditions.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.