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Stock Option Cancellation Agreement

Stock Option Cancellation Agreement Template for Switzerland

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Key Requirements PROMPT example:

Stock Option Cancellation Agreement

"I need a Stock Option Cancellation Agreement for our senior software engineer who wants to voluntarily cancel their 5,000 unvested options in exchange for a cash payment of 50,000 CHF, to be executed by March 2025."

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Document background
A Stock Option Cancellation Agreement becomes necessary when a company and an option holder mutually agree to terminate previously granted stock options, whether due to corporate restructuring, employee departure, or strategic changes in compensation structure. This document, governed by Swiss law, provides a formal framework for unwinding option arrangements while ensuring compliance with Swiss corporate, securities, and tax regulations. It typically includes detailed information about the options being cancelled, any compensation being provided, tax implications, and mutual releases. The agreement is particularly relevant in situations involving corporate reorganizations, mergers and acquisitions, or changes in employee status. The document must comply with Swiss regulatory requirements, including relevant provisions of the Swiss Code of Obligations and applicable FINMA regulations for listed companies.
Suggested Sections

1. Parties: Identification of the company and the option holder

2. Background: Details of the original stock option grant(s), including grant date, number of options, and exercise price

3. Definitions: Key terms used in the agreement, including 'Option Agreement', 'Cancellation Date', and 'Consideration' if applicable

4. Acknowledgment of Existing Options: Confirmation of current outstanding options and their terms

5. Cancellation: Express agreement to cancel the options and timing of cancellation

6. Consideration: Details of any payment or other consideration provided for the cancellation

7. Tax Matters: Acknowledgment of tax consequences and responsibilities

8. Mutual Releases: Releases between parties regarding the cancelled options

9. Representations and Warranties: Standard representations including authority to enter agreement and understanding of terms

10. Governing Law and Jurisdiction: Specification of Swiss law and jurisdiction

11. Entire Agreement: Integration clause confirming this document represents the complete agreement

12. Counterparts and Execution: Provisions for signing the agreement

Optional Sections

1. Confidentiality: Required when parties need to keep the cancellation terms confidential

2. Surviving Obligations: Needed when certain obligations from the original option agreement should survive

3. Alternative Compensation: Used when replacement compensation is being provided

4. Company Policies: Required when referencing ongoing compliance with company policies

5. Data Protection: Needed when personal data processing is involved

6. Third Party Rights: Required when third parties have interests in the options

7. Currency Provisions: Needed for international cancellations involving multiple currencies

Suggested Schedules

1. Schedule 1 - Option Details: Detailed list of all options being cancelled, including grant dates, vesting schedules, and exercise prices

2. Schedule 2 - Calculation of Consideration: If applicable, detailed calculation of any compensation being paid

3. Schedule 3 - Tax Calculations: Summary of tax implications and calculations

4. Appendix A - Original Option Agreement: Copy of the original option agreement(s) being cancelled

5. Appendix B - Board Resolution: Copy of board resolution approving the cancellation

6. Appendix C - Required Regulatory Filings: Forms or notifications required for regulatory compliance

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions





























Clauses



























Relevant Industries

Technology

Financial Services

Pharmaceuticals

Manufacturing

Professional Services

Telecommunications

Consumer Goods

Energy

Healthcare

Real Estate

Media and Entertainment

Biotechnology

Software and IT

Relevant Teams

Legal

Human Resources

Finance

Tax

Compensation and Benefits

Corporate Governance

Executive Office

Company Secretariat

Compliance

Treasury

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

General Counsel

HR Director

Compensation Manager

Stock Plan Administrator

Corporate Secretary

Finance Director

Tax Director

Compliance Officer

Board Member

Executive Committee Member

HR Business Partner

Legal Counsel

Financial Controller

Company Secretary

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

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