An Option Assumption Agreement between the Purchaser and Company is a contract that clarifies the terms of an option that the Purchaser holds in relation to the Company. This agreement outlines the Purchaser’s rights and responsibilities with respect to the option, such as the right to exercise the option at any time during the term of the agreement, the Company’s obligation to provide the Purchaser with the option, and the Purchaser’s obligation to pay the exercise price if the option is exercised. The agreement also outlines the conditions under which the option can be terminated or extended, as well as any other relevant terms and conditions. The two main types of Option Assumption Agreements between the Purchaser and Company are call option agreements and put option agreements. A call option agreement gives the Purchaser the right to purchase a particular asset or security at a predetermined price during a specified period of time. A put option agreement gives the Purchaser the right to sell a particular asset or security at a predetermined price during a specified period of time. In both cases, the Purchaser pays the exercise price to the Company upon exercising the option.