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Founder Employment Agreement
"I need a Founder Employment Agreement for our tech startup's CTO and co-founder, who will own 25% of the company's shares and needs specific provisions for intellectual property rights as they'll be leading our AI development team."
1. Parties: Identification of the company and the founder
2. Background: Context of the founder's relationship with the company and establishment of the agreement
3. Definitions: Key terms used throughout the agreement including defined roles, companies, and technical terms
4. Appointment and Duties: Role, responsibilities, reporting structure, and commitment requirements
5. Remuneration and Benefits: Salary, bonuses, benefits package, and compensation structure
6. Working Hours and Location: Work schedule, place of work, and flexibility arrangements
7. Intellectual Property: Ownership and assignment of IP rights, including pre-existing IP and new developments
8. Confidentiality: Protection of company information and trade secrets
9. Termination: Circumstances and process for ending employment, notice periods, and consequences
1. Share Options: Terms of any share option scheme or equity arrangements
2. Garden Leave: Terms for placing founder on garden leave during notice period
3. International Travel: Terms for international work and travel requirements
4. Board Position: Terms relating to appointment and removal from board positions
5. External Activities: Provisions regarding other business interests and external appointments
1. Schedule 1: Share Option Scheme: Detailed terms and conditions of share options or equity arrangements
2. Schedule 2: Restrictive Covenants: Post-employment restrictions and non-compete provisions
3. Schedule 3: Benefits Package: Detailed description of benefits, including insurance, pension, and other perks
4. Appendix A: Job Description: Detailed role responsibilities and performance expectations
5. Appendix B: Board Resolution: Company approval of appointment and terms
Authors
Board
Business
Capacity
Change of Control
Commencement Date
Company
Company Intellectual Property
Competitor
Confidential Information
Connected Person
Director
Employment
Equity Documents
Executive
Exit Event
Founder
Garden Leave
Good Leaver
Group
Group Company
Intellectual Property Rights
Invention
Material Interest
Personal Data
Prohibited Area
Prospective Client
Remuneration
Restricted Business
Restricted Client
Restricted Period
Share Option Scheme
Shareholder Agreement
Termination Date
Territory
Trigger Event
Unvested Shares
Vested Shares
Works
Duties and Responsibilities
Time Commitment
Place of Work
Remuneration
Expenses
Benefits
Holidays
Sickness and Absence
Directorship
Share Options
Intellectual Property
Confidentiality
Data Protection
Conflicts of Interest
Outside Activities
Board Meetings
Reporting Requirements
Performance Review
Garden Leave
Termination
Payment in Lieu of Notice
Post-Termination Restrictions
Company Property
Good/Bad Leaver Provisions
Share Transfer Provisions
Non-Competition
Non-Solicitation
Non-Dealing
Non-Poaching
Entire Agreement
Variation
Severability
Notices
Third Party Rights
Governing Law
Jurisdiction
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Founder Stock Purchase Agreement
An English law agreement governing the purchase of company shares by founders, establishing ownership terms and conditions.
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