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This is a Put and/or Call options agreement. An option agreement is often entered into to protect a minority shareholder who wishes to be assured of an exit from a joint venture. This document is drafted in favour of the Buyer of Shares.
Seller and Buyer have agreed to enter into certain option arrangements on the terms of this agreement. The Put / Call Option may (subject to clause 8) be exercised by notice by Seller given at any time during the Option Period. The Put / Call Option may be exercised in respect of all (but not some only) of the Option Shares. An Option Notice, once served, shall not be revoked.
The cost of obtaining the Auditors' Certificate shall be borne by the Seller. The cost of obtaining the Expert's certificate (the Expert's Certificate) shall be borne as directed by the Expert and if there is no such direction by the Seller.
This Agreement should be carefully read by the Buyer and Seller.
This Agreement should be signed by the authorised signatory.