It has been a week for option agreements this week.
We amended one that gives a couple of potential investors the option to invest multiples of $50,000 up to $600,000 in a technology company that has developed a unique all-terrain vehicle with four independently powered wheels.
We also had to advise another client on two option agreements that he was presented. The advice was that no one in their right mind would sign either agreement. He was also presented with a shareholder agreement that did not solve one major issue that it was said to cover, and would have had unintended consequences in other situations, so we recommended not signing that document without substantial amendment.
For drafting and advice on commercial agreements, see Michael Paterson & Associates.