Helping you prepare for future events

An options agreement or a buy/sell agreement as they are often called refers to an agreement between business owners stating what is to occur to an owner’s interest in the business if an event was to happen to one of the owners.

For example, on the death of a shareholder, that shareholder’s interest must be fist offered to the remaining shareholders rather than merely falling into his or her estate or being sold to a third party. Such agreements also commonly contain an option where an owner becomes permanently disabled and can also be drafted to cover other scenarios.

The agreement will contain valuation methodology and payment terms to ensure the business can continue with as minimal disruption as possible.

More and More these days, such an options agreement or buy/sell agreement is incorporated into a shareholder agreement.

Duffy Lawyers can provide you with specialist business specific advice on all aspects of options agreements and buy/sell agreements.

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