Option Agreement Template for India

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of Option: Clear statement of the option being granted and its fundamental terms

5. Option Period: Duration of the option and any conditions affecting its term

6. Option Price: Consideration paid for the option itself (distinct from the exercise price)

7. Exercise Price: Price to be paid upon exercise of the option

8. Exercise Mechanism: Process and requirements for exercising the option

9. Representations and Warranties: Statements of fact and assurances from both parties

10. Completion: Process and requirements for completing the transaction after option exercise

11. Termination: Circumstances under which the option agreement can be terminated

12. Confidentiality: Obligations regarding confidential information

13. Notices: Process for formal communications between parties

14. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, etc.

1. Schedule 1 - Description of Option Subject Matter: Detailed description of shares, property, or other assets subject to the option

2. Schedule 2 - Form of Exercise Notice: Template notice for exercising the option

3. Schedule 3 - Completion Requirements: Detailed list of actions and documents required at completion

4. Schedule 4 - Warranties: Detailed warranties given by the parties

5. Schedule 5 - Encumbrances: List of any existing encumbrances on the option subject matter

6. Appendix A - Valuation Methodology: Agreed method for determining value if relevant

7. Appendix B - Required Consents: List of third-party or regulatory consents required