Stock Option Cancellation Agreement Template for Nigeria

1. Surviving Obligations: Used when certain obligations from the original option agreement should survive cancellation

2. Confidentiality: Include when parties wish to keep the terms of the cancellation confidential

3. Alternative Compensation: Required if the cancellation is part of a larger compensation restructuring

4. Return of Documents: Include when physical option certificates need to be returned

5. Regulatory Compliance: Additional section for public companies or when specific SEC Nigeria requirements apply

6. Non-Competition/Non-Solicitation: Include if the cancellation is tied to ongoing restrictive covenants

1. Schedule 1 - Details of Original Option Grant: Complete details of the original stock option grant(s) being cancelled

2. Schedule 2 - Calculation of Consideration: If applicable, detailed breakdown of any consideration being paid

3. Schedule 3 - Required Regulatory Filings: List of necessary filings with Nigerian authorities (if applicable)

4. Appendix A - Copy of Original Option Agreement: Attached copy of the original stock option agreement being cancelled

5. Appendix B - Board Resolution: Copy of board resolution approving the cancellation

6. Appendix C - Tax Computation: Details of tax implications and calculations (if applicable)