Common Contracts
1 similar Double Option Agreement contracts
Double option agreement templateDouble Option Agreement • May 12th, 2021
This is usually from the family but can be from any personal representative of the estate. The shareholders request to purchase the shares for the value agreed upon in the policy. The family, in return, sell the shares to the remaining shareholders on the terms agreed. Put option agreement A put option agreement is where the shareholder’s family request to sell the shares for the agreed value. In return, the surviving shareholders agree to purchase the shares from them in line with the terms of the policy. Single option agreement with critical illness In the event that the shareholder takes out a critical illness policy, the agreement is slightly different. This is what is called a single option agreement. The terms are such that if a shareholder were to fall critically ill and wish to sell their shares, the remaining shareholders agree to purchase it. However, they cannot become entitled to the share without consent from the individual insured. For example, if they wish to buy the sha
