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Founders Service Agreement
"I need a Founders Service Agreement for my UK-based fintech startup, where I'll be serving as both CEO and board member, with a focus on equity-based compensation and specific provisions for intellectual property protection in the financial technology sector."
1. Parties: Identification of the company and the founder
2. Background: Context of the agreement and founder's relationship with company
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Terms of appointment and duration
5. Duties and Obligations: Founder's responsibilities and commitments
6. Remuneration: Compensation, benefits, and expenses
7. Intellectual Property: IP rights assignment and protection
8. Confidentiality: Non-disclosure obligations
9. Restrictive Covenants: Non-compete and non-solicitation provisions
10. Termination: Circumstances and process for ending the agreement
11. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. Share Options: Details of any share option schemes - include when founder is being offered equity incentives
2. Board Position: Terms of board appointment - include when founder will serve as director
3. International Travel: Terms for international work - include when role involves international duties
4. Garden Leave: Provisions for garden leave during notice period - include when heightened business protection is needed
1. Schedule 1: Share Vesting Terms: Detailed vesting schedule and conditions for any equity compensation
2. Schedule 2: Job Description: Detailed outline of roles and responsibilities
3. Schedule 3: Company Policies: Key policies founder must comply with
4. Schedule 4: Benefits Package: Detailed description of benefits and allowances
5. Schedule 5: Restricted Activities: Detailed list of competitive activities and restrictions post-termination
Authors
Appointed Director
Board
Business
Business Day
Business Hours
Company
Confidential Information
Effective Date
Founder
Founder IP
Group
Group Company
Intellectual Property Rights
Notice
Parent Company
Parties
Person
Remuneration
Services
Share Option Scheme
Shares
Subsidiary
Term
Termination Date
Territory
Vesting Schedule
Working Hours
Board Position
Capacity and Status
Compensation and Benefits
Confidentiality
Conflicts of Interest
Data Protection
Definitions and Interpretation
Directors' Duties
Dispute Resolution
Expenses
Garden Leave
Governing Law and Jurisdiction
Holiday Entitlement
Indemnification
Insurance
Intellectual Property
Location of Work
Non-Competition
Non-Solicitation
Notice Requirements
Place of Work
Regulatory Compliance
Representations and Warranties
Restrictive Covenants
Return of Company Property
Share Options and Equity
Sickness and Absence
Termination
Time Commitment
Variation and Waiver
Vesting Provisions
Working Hours
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