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I see what you mean with "Connected person" which in chapter 9 section 252:
"The persons who are “connected” for this purpose with a director include:
• certain companies with which the director is connected (see section 254);"
So yes, that would threaten the secondary deal even though they have already signed it by now. As is, they could simply claim is has been rendered unenforceable.
So I have rewritten those last two bullets and added the condition. They ave pretty much accepted all changes.
Last quick question, perhaps kind of obvious. The whole document is in a letter form, from me to them. There no signature areas. So it appears it's just a statement of intent, a confirmation, not a signed agreement. Should I insist on them signing this as an acceptance? Thanks!