Option Alienation Agreement
Option Alienation Agreement |
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This sample agreement outlines the standard terms and conditions for option assignments on the JetUP platform.
(For Reference Purposes Only)
This agreement (hereinafter - "Agreement") is concluded between the Seller, on the one hand, and the Buyer, on the other hand, collectively referred to as the "Parties," using the services of the JETUP platform (hereinafter - "Platform"), as follows:
1. Subject of the Agreement
1.1. The Seller undertakes to provide the Buyer with the right (but not the obligation) to purchase a share/stocks in the company [Company Name] (hereinafter - "Underlying Asset") on the terms defined by this Agreement (hereinafter - "Option").
1.2. The Buyer undertakes to pay the Seller a fee for providing the Option (hereinafter - "Premium").
2. Option Terms
2.1. Underlying Asset: [Description of the share/stocks that are the subject of the Option]
2.2. Quantity of the Underlying Asset: [Number of shares/stocks]
2.3. Option Exercise Price: [Amount] per [unit of the Underlying Asset]
3. Premium and Payment Procedure
3.2. The total Premium amount under this Agreement is [Amount].
3.3. Payment of the Premium is made by the Buyer within [Number] days from the conclusion of this Agreement by transferring digital accounting units to the Seller's account on the Platform.
4. Option Exercise Procedure
4.1. To exercise the Option, the Buyer sends a notification to the Seller through the Platform no later than the Option expiration date.
4.2. In case of Option exercise, the Seller undertakes to transfer the Underlying Asset to the Buyer within [Number] days from the receipt of notification of Option exercise and payment of the exercise price.
4.3. Payment of the Option exercise price is made by the Buyer by transferring digital accounting units to the Seller's account on the Platform.
5. Option Tokenization
5.1. The Buyer has the right to tokenize the acquired Option using the Platform's tools.
5.2. Option tokenization is carried out by the Buyer independently and at their own risk. The Seller and the Platform are not responsible for the consequences of Option tokenization.
5.3. In case of transfer of the tokenized Option to a third party, the rights and obligations under this Agreement are transferred to the new token holder.
6. Rights and Obligations of the Parties
6.1. The Seller undertakes to:
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Provide the Buyer with complete and accurate information about the Underlying Asset.
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In case of Option exercise, transfer the Underlying Asset to the Buyer in accordance with the terms of this Agreement.
6.2. The Buyer undertakes to:
6.3. The Parties have other rights and bear other obligations provided for by current legislation and this Agreement.
7. Liability of the Parties
7.1. For non-fulfillment or improper fulfillment of obligations under this Agreement, the Parties bear responsibility in accordance with the current legislation of Georgia and this Agreement.
7.2. In case of violation by the Seller of the obligation to transfer the Underlying Asset upon Option exercise, the Seller pays the Buyer a penalty in the amount of [0.1]% of the Option exercise price for each day of delay.
7.3. In case of violation by the Buyer of the Premium payment terms or the Option exercise price payment terms, the Buyer pays the Seller a penalty in the amount of [0.1]% of the unpaid amount for each day of delay.
8. Force Majeure
8.1. The Parties are released from liability for partial or complete non-fulfillment of obligations under this Agreement if this non-fulfillment was a consequence of force majeure circumstances that arose after the conclusion of the Agreement as a result of extraordinary events that the Party could neither foresee nor prevent by reasonable measures.
8.2. Force majeure circumstances include events over which the Party cannot exert influence and for the occurrence of which it does not bear responsibility, for example: earthquake, flood, fire, as well as strike, government decrees or orders of state bodies.
9. Dispute Resolution
9.1. All disputes and disagreements that may arise between the Parties on issues not resolved in the text of this Agreement will be resolved through negotiations based on current legislation.
9.2. If unresolved during negotiations, disputed issues are resolved in court in the manner established by the current legislation of Georgia.
10. Final Provisions
10.1. This Agreement enters into force from the moment of its signing by both Parties and is valid until the complete fulfillment of obligations by the Parties.
10.2. Any changes and additions to this Agreement are valid provided that they are made in writing and signed by duly authorized representatives of the Parties.
10.3. This Agreement is drawn up in two copies having the same legal force, one copy for each of the Parties.
10.4. In all other matters not provided for by this Agreement, the Parties are guided by the current legislation of Georgia and the Platform rules.
Last updated: 01.05.2025