FOUNDER ACCORD
This agreement (this "Founder Accord") effective as of [[Effective Date]] among the undersigned (the "Founders") of [[Company Name]] (the "Company"), memorializes the respective rights and obligations of the Founders prior to the creation and execution of customary corporate actions and long-form agreements pertaining to these matters (the "Formal Setup"). The terms and conditions specified in this Founder Accord shall control any future disagreements among the Founders with respect to the matters covered herein until such time as the Company completes the Formal Setup consistent with the terms of this Founder Accord to supersede it. The Founders anticipate completing the Formal Setup in connection either with the Company’s initial financing or at such time that the Company’s revenues are sufficient to permit such expenditures, but desire to enter into this Founder Accord to confirm their collective understanding, and for this Founder Accord to be legally binding, as to the matters sufficiently described herein.
Issue | Agreement |
---|---|
Business Idea | [[Business Idea]] |
Company Structure | To be determined at Formal Setup |
Equity ($NPC ERC-20 Token) | Jacques D. Jean: 9,000,000 (Fully Vested), Isabelle Jean: 7,000,000 (Fully Vested), Benjamin Natanzon: 6,500,000 (Fully Vested), Reuben Tadpatri: 6,500,000 (Fully Vested), Nicholas Echevarria: 6,000,000 (Fully Vested), Lily Neilsen: 6,000,000 (Fully Vested) |
Titles | Jacques D. Jean: "Director Operations", Isabelle Jean: "Director of Growth", Benjamin Natanzon: "Director of Business Development", Reuben Tadpatri: "Product Manager", Nicholas Echevarria: "Software Engineer", Lily Neilsen: "Agriculture Supply Lead" |
Governance | $NPC ERC-20 NEPTUNE Token Holders |
Vesting | 4-year monthly vesting with 1-year cliff |
Commitment/Outside activities | Part-Time Commitment; No participation in directly competitive ventures |
Salary or other cash compensation | To be determined at Formal Setup |
Confidentiality | Founders acknowledge that the existence and the terms of this Founder Accord and any oral or written information exchanged between Founders in connection with the preparation and performance of this Founder Accord are regarded as confidential information |
Modifications | Consent in writing of all Founders |
Disputes | If a dispute arises out of or relates to this Founder Accord, or the breach thereof, and if said dispute cannot be settled through direct discussions, the parties agree to first endeavor to settle the dispute in an amicable manner by mediation administered by the American Arbitration Association under its Commercial Mediation Rules, before resorting to arbitration. Thereafter, any unresolved controversy or claim arising out of or relating to this Founder Accord, or breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment upon the Award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof |
SO AGREED,