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Stock Option Purchase Agreement
1. Parties: Identification of the company granting the options and the option holder
2. Background: Context of the agreement, including the company's stock option program and authorization to grant options
3. Definitions: Key terms used throughout the agreement, including 'Exercise Price', 'Options', 'Shares', etc.
4. Grant of Options: Details of the options being granted, including number of shares and exercise price
5. Vesting Schedule: Timeline and conditions for when options become exercisable
6. Exercise of Options: Process and requirements for exercising options, including payment methods and notice requirements
7. Term and Expiration: Duration of the options and circumstances of expiration
8. Restrictions on Transfer: Limitations on transferring or assigning the options
9. Rights as a Shareholder: Clarification of rights (or lack thereof) before exercise of options
10. Tax Matters: Tax obligations and responsibilities of the parties
11. Compliance with Laws: Confirmation of compliance with relevant Danish securities and corporate laws
12. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes
13. Signatures: Execution blocks for all parties
1. Employment Relationship: Required when options are tied to employment status, describing impact of termination scenarios
2. Change of Control Provisions: Included when specific provisions apply in case of company sale or merger
3. Lock-up Period: Added when there are restrictions on selling shares after exercise
4. Bad Leaver Provisions: Included when different terms apply based on circumstances of employment termination
5. Shareholders' Agreement Adherence: Required when option holders must join existing shareholders' agreement upon exercise
6. Competition and Non-Solicitation: Added when additional restrictive covenants are tied to the option grant
7. Data Protection: Required when personal data processing needs specific attention under GDPR
1. Option Certificate: Formal certificate detailing the specific grant terms and vesting schedule
2. Exercise Notice: Template form for exercising options
3. Deed of Adherence: Form for joining shareholders' agreement upon exercise if required
4. Company's Articles of Association: Current articles showing share classes and rights
5. Vesting Schedule Details: Detailed breakdown of vesting dates and conditions
6. Tax Calculations Example: Illustrative examples of tax implications in different scenarios
7. Board Resolution: Copy of board resolution authorizing the option grant
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