powered by zumeforms
This doc maker generates a long form co-founder agreement intended for use by the founders of a new startup who wish to provide for some level of claw-back of a co-founder’s initial shareholding if he or she:
- ceases to work for the company (whether as an employee or contractor); or
- fails to make the contribution required of them to the business.
This type of arrangement is referred to in the startup and venture capital world as “founder vesting”.
Founder vesting is common with Silicon Valley startups, and is becoming more popular in New Zealand as co-founders are increasingly meeting through incubators or accelerator programmes rather than through longstanding business, professional or social relationships.