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1. Confidentiality: Required if sensitive information will be shared during the option period

2. Due Diligence: Include if the option holder has rights to conduct due diligence before exercise

3. Anti-Dilution Provisions: Necessary if the option relates to company shares or securities

4. Right of First Refusal: Include if the option holder should have priority rights for additional opportunities

5. Assignment Rights: Include if either party needs specific rights to assign the option

6. Tax Provisions: Required if there are specific tax implications that need to be addressed

7. Competition Restrictions: Include if there are any restrictions on dealing with competitors during the option period

8. Force Majeure: Include if specific events should be identified that would affect the option terms

1. Schedule 1 - Subject Matter of Option: Detailed description of what the option relates to (e.g., assets, shares, rights)

2. Schedule 2 - Exercise Notice Form: Template form for exercising the option

3. Schedule 3 - Exercise Price Calculation: If complex, the detailed methodology for calculating the exercise price

4. Schedule 4 - Due Diligence Requirements: If applicable, list of due diligence materials and process

5. Schedule 5 - Completion Obligations: Detailed list of what each party must do upon exercise of the option

6. Appendix A - Required Regulatory Approvals: List of any regulatory approvals needed for option exercise

7. Appendix B - Competing Business Definition: If relevant, detailed definition of what constitutes competing business