Option Extension Agreement Template for Canada

1. Modified Terms: Used when certain terms of the original option agreement are being modified along with the extension

2. Additional Conditions: Include when new conditions are attached to the extension

3. Registration Rights: Required when the option relates to real property and needs to be registered

4. Security Provisions: Include when additional security is required for the extension

5. Regulatory Compliance: Include when the extension triggers specific regulatory requirements

6. Assignment Rights: Include when modifying or clarifying assignment rights for the extended period

7. Early Exercise Provisions: Used when including special provisions for early exercise during the extended period

1. Schedule A - Original Option Agreement: Copy of the original option agreement being extended

2. Schedule B - Property Description: Detailed description of any property subject to the option (if applicable)

3. Schedule C - Payment Schedule: Details of any additional payments or consideration structure for the extension

4. Schedule D - Modified Terms: Detailed listing of any terms being modified from the original agreement

5. Appendix 1 - Corporate Resolutions: Copies of corporate resolutions authorizing the extension (if applicable)

6. Appendix 2 - Regulatory Approvals: Copies of any required regulatory approvals for the extension