Disclaimer
The content provided is intended solely as a general example for informational purposes related to agreements that outline the vesting schedule and rights of founders in startup companies. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in corporate or contract law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
Please note: This is a sample Founder Vesting Agreement template for illustrative purposes only. Actual terms may vary based on specific arrangements and applicable legal regulations.
Founder Vesting Agreement Sample (US)
Parties Involved:
Founder: John Doe
Address: 123 Startup Lane, San Francisco, CA 94105
Company: Tech Innovators Inc.
Address: 456 Innovation Drive, San Francisco, CA 94107
Vesting Schedule:
The founder’s equity shall vest over a four-year period with a one-year cliff, such that 25% of the shares vest after the first year, with the remaining shares vesting monthly thereafter.
Terms of Vesting:
Vesting is contingent upon continuous service to the company. In the event of termination, unvested shares shall be forfeited unless otherwise specified herein.
Repurchase Rights:
The company retains the right to repurchase unvested shares at the original purchase price upon termination of the founder’s service.
Governing Law:
This agreement shall be governed by the laws of the State of California. Disputes shall be resolved within the courts of San Francisco.
Additional Provisions:
- The founder agrees to comply with all confidentiality and non-compete clauses as outlined in this agreement.
- This agreement may be amended only in writing signed by both parties.
- All rights and obligations under this agreement shall survive any termination of the founder’s relationship with the company.
San Francisco, ______________________
John Doe (Founder)
Jane Smith (Authorized Signatory)