This Founder Accord dated as of [[Effective Date]] among the undersigned Founders of [[Company Name]] (the "Company"), memorializes the respective rights and obligations of the Founders prior to the creation and execution of customary corporate actions and long form agreements pertaining to these matters (the "Formal Setup"). The terms and conditions specified in this Founder Accord shall control any future disagreements among the Founders with respect to the matters covered herein until such time as the Company completes the Formal Setup consistent with the terms of this Founder Accord to supersede it. The Founders anticipate completing the Formal Setup in connection either with the Company’s initial financing or at such time that the Company’s revenues are sufficient to permit such expenditures, but desire to enter into this agreement to confirm their collective understanding, and for this agreement to be legally binding, as to the matters sufficiently described herein.
| Issue | Agreement |
|---|---|
| Company/Status | [[ _ ]] |
| Business Idea | [[ _ ]] |
| Founders | [[ _ ]] |
| Equity | [[ _ ]] |
| Titles | [[ _ ]] |
| Board | [[ _ ]] |
| Vesting | [[ _ ]] |
| Vesting Commencement Dates | [[ _ ]] |
| Commitment/Outside activities | [[ _ ]] |
| Salary or other cash compensation | [[ _ ]] |
| Company IP, Confidentiality, etc. | [[ _ ]] |
| Modifications | [[ _ ]] |
| Disputes | [[ _ ]] |
IN WITNESS WHEREOF, the parties hereto have executed this Founder Accord on the date first above written.
[[Founder A]] /s/_______________________
[[Founder B]] /s/_______________________
[[Founder C]] /s/_______________________