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Co Founder Vesting Agreement

Co Founder Vesting Agreement Template for Pakistan

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Key Requirements PROMPT example:

Co Founder Vesting Agreement

"I need a Co-Founder Vesting Agreement for my Pakistan-based technology startup with three co-founders, implementing a 4-year vesting schedule with a 1-year cliff starting January 2025, and including accelerated vesting provisions in case of acquisition."

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Document background
The Co-Founder Vesting Agreement is a crucial document for startups and new businesses in Pakistan, typically implemented at company formation or during early-stage structuring. It protects the interests of both the company and its co-founders by ensuring long-term commitment through gradual share vesting. This agreement is essential when multiple founders are involved and want to establish clear terms for equity ownership, particularly important in Pakistan's growing startup ecosystem where founder disputes can be complex to resolve. The document must comply with Pakistani corporate law, particularly the Companies Act 2017, and includes specific provisions for vesting schedules, cliff periods, good/bad leaver scenarios, and share transfer restrictions. It's commonly used alongside shareholders' agreements and company incorporation documents, providing a comprehensive framework for equity management and founder relationships.
Suggested Sections

1. Parties: Identification of all co-founders and the company entering into the agreement

2. Background: Context of the agreement, including company formation, initial share allocation, and purpose of vesting

3. Definitions: Key terms used throughout the agreement including Vesting Period, Cliff Period, Good Leaver, Bad Leaver, etc.

4. Initial Share Allocation: Details of initial share distribution among co-founders

5. Vesting Terms: Core vesting schedule, timeline, and conditions for share vesting

6. Cliff Period: Specification of initial period before vesting begins

7. Acceleration Provisions: Circumstances triggering accelerated vesting (e.g., company sale)

8. Leaver Provisions: Treatment of unvested shares upon founder departure

9. Transfer Restrictions: Limitations on share transfers during vesting period

10. Tag-Along and Drag-Along Rights: Rights of co-founders in case of share sales

11. Representations and Warranties: Standard declarations by all parties

12. Confidentiality: Protection of company and agreement confidentiality

13. Governing Law and Jurisdiction: Specification of Pakistani law application and dispute resolution

14. General Provisions: Standard boilerplate clauses including amendments, notices, etc.

Optional Sections

1. Right of First Refusal: Optional section for when co-founders want pre-emptive rights to purchase others' shares

2. Intellectual Property Assignment: Required if IP assignment hasn't been covered in separate agreements

3. Non-Competition: Optional restrictions on competing activities during and after involvement

4. Tax Provisions: Detailed tax handling if specific tax structuring is needed

5. Shareholder Approval Process: Required if company has existing shareholders beyond co-founders

6. Foreign Investment Provisions: Required if any co-founder is a foreign national

7. Deadlock Resolution: Optional mechanism for resolving disputes between co-founders

Suggested Schedules

1. Schedule 1 - Share Allocation Table: Detailed breakdown of initial share allocation and vesting schedule

2. Schedule 2 - Vesting Timeline: Month-by-month vesting schedule with milestone dates

3. Schedule 3 - Share Valuation Methodology: Agreed method for valuing shares for buyback purposes

4. Schedule 4 - Deed of Adherence: Template for new shareholders to join the agreement

5. Schedule 5 - Company Details: Corporate information including registration numbers and address

6. Appendix A - Board Resolutions: Copies of board resolutions approving the vesting arrangement

7. Appendix B - Shareholders' Agreement Reference: Cross-reference to relevant provisions of shareholders' agreement

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
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Relevant Industries

Technology

E-commerce

Financial Services

Healthcare

Education Technology

Software Development

Digital Media

Professional Services

Consulting

Manufacturing

Retail

Telecommunications

Biotechnology

Clean Energy

Logistics

Relevant Teams

Legal

Executive Leadership

Corporate Governance

Human Resources

Finance

Company Secretariat

Board of Directors

Compliance

Strategic Planning

Relevant Roles

Chief Executive Officer

Chief Technology Officer

Chief Financial Officer

Chief Operating Officer

Chief Marketing Officer

Managing Director

Company Founder

Technical Co-Founder

Business Co-Founder

General Counsel

Corporate Lawyer

Company Secretary

Board Member

Director of Operations

Head of Business Development

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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A Pakistani law-governed agreement documenting equity investment terms and shareholder rights in a startup company.

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Co Founder Vesting Agreement

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