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1. Intellectual Property Rights: Required when the option involves IP rights, detailing ownership and licensing terms

2. Regulatory Compliance: Required when the subject matter requires governmental or regulatory approvals

3. Due Diligence: Include when the option exercise is subject to due diligence investigations

4. Security Provisions: Required when any form of security or guarantee is provided

5. Force Majeure: Optional clause dealing with unforeseen circumstances, particularly relevant in long-term options

6. Anti-corruption Compliance: Required for international transactions or when dealing with public entities

7. Assignment and Transfer: Include when rights of assignment need to be specifically addressed

8. Data Protection: Required when personal data processing is involved in the agreement

1. Schedule 1 - Subject Matter of Option: Detailed description of the rights, assets, or subject matter covered by the option

2. Schedule 2 - Option Exercise Notice: Pro-forma notice for exercising the option

3. Schedule 3 - Payment Terms: Detailed breakdown of all financial terms and payment schedules

4. Schedule 4 - Due Diligence Requirements: List of due diligence items if applicable

5. Schedule 5 - Form of Definitive Agreement: Draft of the agreement to be entered into upon exercise of the option

6. Appendix A - Required Consents and Approvals: List of any required third-party or regulatory consents

7. Appendix B - Completion Checklist: Checklist of items required for valid exercise of the option