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Co Founder Exit Agreement
"I need a Co-Founder Exit Agreement for an amicable departure from my technology startup, where I'll be selling my 30% shareholding to the remaining founders but continuing as a technical advisor for 6 months until July 2025."
1. Parties: Identification of all parties to the agreement, including the exiting co-founder, remaining co-founders, and the company
2. Background: Context of the co-founder relationship, reason for exit, and current business structure
3. Definitions: Definitions of key terms used throughout the agreement
4. Resignation and Release: Terms of the co-founder's resignation from all positions (director, officer, employee) and mutual releases
5. Share Transfer Terms: Details of the transfer or buyout of the exiting co-founder's shares, including pricing and payment terms
6. Consideration: Full details of the compensation package, including immediate payments, deferred payments, and any other financial considerations
7. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
8. Non-Competition and Non-Solicitation: Restrictions on future competitive activities and solicitation of employees or customers
9. Intellectual Property: Assignment and confirmation of IP rights, including any ongoing rights or licenses
10. Tax Matters: Allocation of tax responsibilities and requirements for tax compliance
11. Representations and Warranties: Statements of fact and promises by all parties
12. General Provisions: Standard legal provisions including governing law, notices, amendments, and entire agreement clause
1. Transition Services: Terms for any temporary transition period where the exiting co-founder continues to provide services
2. Ongoing Consultation: Terms for any ongoing advisory role or consultation arrangement
3. Employee Matters: Special provisions if the co-founder has unique employment relationships or teams reporting to them
4. Company Property: Specific provisions for return or retention of company property, equipment, or resources
5. Insurance and Benefits: Provisions regarding ongoing insurance coverage or benefits
6. Public Announcements: Terms governing how the exit will be communicated externally
7. Dispute Resolution: Specific procedures for resolving any future disputes
8. Earnout Provisions: Terms for any performance-based additional payments
1. Schedule A - Share Details: Details of shares held, including class, number, and percentage ownership
2. Schedule B - Payment Schedule: Detailed schedule of all payments, including amounts and timing
3. Schedule C - Assets and IP: Comprehensive list of intellectual property and other assets affected by the exit
4. Schedule D - Resignation Letters: Form of resignation letters from various positions
5. Schedule E - Release Forms: Forms of mutual releases between parties
6. Schedule F - Retained Rights: Details of any rights retained by the exiting co-founder
7. Appendix 1 - Valuation Report: Independent valuation of shares or business interests being transferred
8. Appendix 2 - Tax Certificates: Required tax clearances or certificates
Authors
Technology
Professional Services
Manufacturing
Retail
Financial Services
Healthcare
Media and Entertainment
E-commerce
Consulting
Software Development
Biotechnology
Real Estate
Energy
Transportation
Legal
Finance
Human Resources
Board of Directors
Executive Leadership
Corporate Governance
Tax
Compliance
Corporate Communications
Operations
CEO
Managing Director
Company Secretary
Chief Legal Officer
Corporate Lawyer
CFO
Board Member
Director
Founder
Co-Founder
General Counsel
Head of Legal
Corporate Governance Officer
Chief Operations Officer
HR Director
Tax Director
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