Option Agreement
This Option Agreement (hereinafter "Agreement") is entered into on this day of [DATE] by and between [YOUR NAME], Manager (hereinafter "Manager"), and [EMPLOYEE NAME], Employee (hereinafter "Employee").
1. PURPOSE OF THE AGREEMENT
This Agreement is intended to set forth the terms and conditions through which the Employee is granted the option to partake in predefined business transactions, including the potential to purchase company shares at a future date or explore potential business ventures, under certain conditions and guidelines outlined herein.
2. OPTION GRANT
The Manager hereby grants to the Employee the option to acquire shares in the company. The specific terms of this option, including the exercise price per share, the total number of shares subject to the option, and the date on which the option becomes exercisable, are to be mutually agreed upon by the parties.
3. FUTURE BUSINESS VENTURES AND TRANSACTIONS
The Manager allows the Employee the flexibility to explore potential business ventures and transactions as outlined in this Agreement. Such explorations should be subjected to and conducted in alignment with the policies of the company, and with the final prerogative resting with the Manager.
4. CONFIDENTIALITY
The Employee agrees to maintain in strict confidence all confidential information received from the Manager or the company during the term of this Agreement and thereafter, except as may be required by law or agreed upon in writing by the Manager.
5. TERM AND TERMINATION
The term of this Agreement shall commence on the date it is made and continue indefinitely until terminated by either party with thirty (30) days' written notice, or as otherwise provided in this Agreement.
By their signatures below, the parties confirm that they have read, understood, and agreed to the terms and conditions of this Business Transaction Option Agreement as of the date first above written.
[YOUR NAME]
[DATE SIGNED]
[EMPLOYEE NAME]
[DATE SIGNED]
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