1. Due Diligence: Include when the optionee requires access to conduct due diligence during the option period

2. Development Obligations: Include when parties have ongoing development responsibilities during the option period

3. Right of First Refusal: Include when the optionee is granted additional rights to match third-party offers

4. Regulatory Compliance: Include for regulated industries or technologies

5. Insurance: Include when specific insurance requirements are needed during the option period

6. Competition Restrictions: Include when there are non-compete or territorial restrictions

7. Tax Provisions: Include when there are specific tax implications requiring detailed treatment

1. Schedule A - Description of Intellectual Property: Detailed description of the IP subject to the option

2. Schedule B - Option Exercise Notice: Form of notice to be used when exercising the option

3. Schedule C - Form of License Agreement: Draft of the license agreement to be entered into upon option exercise

4. Schedule D - Option Fee Schedule: Detailed breakdown of option fees and payment terms

5. Schedule E - Due Diligence Requirements: List of materials and information to be provided for due diligence

6. Appendix 1 - Technical Specifications: Technical details of the intellectual property or technology

7. Appendix 2 - Patent List: Comprehensive list of patents and patent applications covered by the option