Escrow agreement for Share Options where documents are to be held in an escrow arrangement for a period of time (typically the exercise of the options) to be granted to the Grantee upon notification by the Grantor.
By a share option agreement (the “Share Option Agreement”), the Grantor shall grant to the Grantee a call option, and are required to execute and/or deliver certain documents (“Documents”) to the Escrow Agent.
The Grantor and the Grantee have agreed to appoint the Escrow Agent to hold the Documents and the Escrow Agent agrees to such appointment on the terms and subject to the conditions of this Agreement.
The Documents have been signed but have not been delivered by any of the parties to them to the relevant counterparty, and are to be held by the Escrow Agent on the terms and subject to the conditions set out in this Agreement.
The Escrow Agent hereby confirms that it is holding the Documents on behalf of the Grantor and the Grantee on the terms and subject to the conditions of this Agreement.
exercise of option,