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The Stock Option Purchase Agreement is a crucial legal document used in New Zealand business contexts when companies wish to grant stock options to employees, contractors, advisors, or other stakeholders. This agreement is particularly common in growth-stage companies and startups looking to attract and retain talent by offering equity incentives. The document must comply with New Zealand's regulatory framework, including the Financial Markets Conduct Act 2013 and Companies Act 1993, while providing clear terms for option grants, exercise conditions, and eventual share ownership. It typically includes detailed vesting schedules, exercise prices, and conditions for maintaining or forfeiting options, along with provisions for various corporate events that might affect the options' terms. This agreement serves as the foundational document governing the relationship between the company and option holders regarding equity compensation.

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

2. Background: Context of the agreement, relationship between parties, and purpose of the option grant

3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation

4. Grant of Option: Specific details of the option grant including number of shares, class, and grant date

5. Exercise Price: The price at which options can be exercised and payment terms

6. Vesting Schedule: Timing and conditions under which options become exercisable

7. Exercise Period: Time frame during which options may be exercised and process for exercise

8. Termination of Options: Circumstances under which options may lapse or be terminated

9. Restrictions on Transfer: Limitations on transferring or assigning the options

10. Adjustments: Provisions for adjusting options in case of corporate events like stock splits or reorganizations

11. Compliance with Laws: Requirements to comply with relevant securities laws and regulations

12. Taxes: Tax obligations and responsibilities of both parties

13. Notices: How formal communications between parties should be made

14. General Provisions: Standard contractual terms including governing law, amendments, and entire agreement