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Startup Founder Employment Agreement

Startup Founder Employment Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Startup Founder Employment Agreement

"I need a Startup Founder Employment Agreement for a UAE-based fintech company, where the founder will retain 40% equity stake with a 4-year vesting schedule starting March 2025, including specific provisions for regulatory compliance in the financial sector."

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Document background
The Startup Founder Employment Agreement is a crucial document used when formalizing the relationship between a startup company and its founder(s) in the United Arab Emirates. It serves as both an employment contract and a founder's agreement, ensuring compliance with UAE labor laws while protecting the interests of all parties involved. This document is typically implemented during company formation or when transitioning from an informal to a formal business structure. It includes detailed provisions on employment terms, equity arrangements, intellectual property rights, confidentiality obligations, and non-compete restrictions, all tailored to meet UAE legal requirements. The agreement is particularly important in the UAE's growing startup ecosystem, where clear founder relationships and protection of company interests are essential for attracting investment and ensuring smooth business operations.
Suggested Sections

1. Parties: Identification of the company and the founder-employee

2. Background: Context of the agreement, including company formation and founder's role

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position, effective date, and term of employment

5. Duties and Responsibilities: Founder's role, obligations, and performance expectations

6. Time Commitment: Working hours and commitment expectations

7. Remuneration: Salary, benefits, and other compensation

8. Equity Arrangements: Share ownership, vesting schedule, and related terms

9. Intellectual Property: Assignment and protection of IP rights

10. Confidentiality: Protection of company confidential information

11. Non-Competition: Restrictions on competitive activities as per UAE law

12. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers

13. Termination: Grounds and process for termination

14. Post-Termination Obligations: Continuing obligations after employment ends

15. General Provisions: Standard legal clauses including governing law, notices, etc.

Optional Sections

1. Board Position: Terms of board membership, if founder will serve on board

2. Investment Obligations: If founder is required to make capital contributions

3. International Travel: If role requires significant international travel

4. Succession Planning: Process for transitioning leadership, if needed

5. Good Leaver/Bad Leaver: Specific provisions affecting equity in different exit scenarios

6. Shareholder Rights: Special voting or veto rights as a founder

7. Alternative Dispute Resolution: Specific dispute resolution procedures for founder disputes

8. External Activities: Terms for managing other business interests or board positions

Suggested Schedules

1. Schedule 1 - Position Description: Detailed outline of founder's role and responsibilities

2. Schedule 2 - Remuneration Package: Detailed breakdown of salary, benefits, and bonus structure

3. Schedule 3 - Equity Vesting Terms: Detailed vesting schedule and conditions

4. Schedule 4 - IP Assignment: Comprehensive list of IP being assigned to company

5. Schedule 5 - Restricted Activities: Detailed list of prohibited competitive activities

6. Schedule 6 - Company Policies: Key company policies applicable to the founder

7. Appendix A - Share Option Agreement: Detailed terms of any share options granted

8. Appendix B - KPIs and Performance Metrics: Specific performance expectations and measurements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

















































Clauses















































Relevant Industries

Technology

E-commerce

Financial Technology

Healthcare Technology

Educational Technology

Artificial Intelligence

Blockchain

Digital Media

Clean Technology

Software Development

Biotechnology

Cybersecurity

Internet of Things

Mobile Applications

Cloud Services

Retail Technology

Real Estate Technology

Insurance Technology

Food Technology

Sustainable Energy

Relevant Teams

Legal

Human Resources

Executive Leadership

Board of Directors

Corporate Governance

Company Secretariat

Compliance

Finance

Operations

Relevant Roles

Founder

Co-Founder

Chief Executive Officer

Managing Director

Executive Director

Chief Technology Officer

Chief Operations Officer

Chief Financial Officer

Chief Product Officer

Chief Marketing Officer

Executive Chairman

Technical Founder

Business Founder

Managing Founder

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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