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Founder Equity Agreement

Founder Equity Agreement Template for Indonesia

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Key Requirements PROMPT example:

Founder Equity Agreement

"Need a Founder Equity Agreement for a technology startup in Jakarta with three co-founders, where I'll hold 50% equity and the other two founders will split the remaining 50%, with a 4-year vesting schedule starting March 2025."

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Document background
The Founder Equity Agreement is a crucial document used when establishing a new company or formalizing relationships between existing founders in Indonesia. It serves as the foundational document that governs the equity structure, management rights, and obligations of company founders. This agreement is essential for startups and new businesses across all sectors, particularly when multiple founders are involved in establishing the company. The document must comply with Indonesian corporate law, specifically Law No. 40 of 2007 on Limited Liability Companies, and typically includes provisions for share allocation, vesting schedules, decision-making processes, transfer restrictions, and exit mechanisms. It should be drafted in both Indonesian and English languages to comply with Law No. 24 of 2009, and requires notarization under Indonesian law.
Suggested Sections

1. Parties: Identification of all founding members and the company

2. Background: Context of the agreement, including company formation details and founders' roles

3. Definitions: Key terms used throughout the agreement

4. Share Allocation: Initial distribution of shares among founders, including class of shares and nominal value

5. Capital Contribution: Details of each founder's contribution, whether monetary or in-kind

6. Vesting Schedule: Timeline and conditions for share vesting

7. Roles and Responsibilities: Each founder's position, duties, and commitment expectations

8. Decision Making: Voting rights and process for key company decisions

9. Transfer Restrictions: Limitations on share transfers and right of first refusal provisions

10. Intellectual Property: Assignment of IP rights to the company

11. Confidentiality: Protection of company and founder confidential information

12. Non-Compete and Non-Solicitation: Restrictions on competitive activities and employee solicitation

13. Termination: Circumstances and procedures for founder exit

14. Dispute Resolution: Process for resolving disagreements, including jurisdiction and governing law

15. General Provisions: Standard clauses including notices, amendments, and severability

Optional Sections

1. Tag-Along Rights: Include when founders want the right to join in sale of shares by other founders

2. Drag-Along Rights: Include when majority founders want the right to force minority founders to join in a company sale

3. Anti-Dilution Protection: Include when founders want protection against equity dilution in future funding rounds

4. Family Members Provisions: Include when addressing inheritance rights and family member involvement is necessary

5. External Investment Provisions: Include when anticipating immediate future investment rounds

6. Founder Loans: Include when founders are providing loans to the company

7. Special Voting Rights: Include when certain founders need specific voting or veto rights

Suggested Schedules

1. Share Ownership Schedule: Detailed breakdown of share ownership, share classes, and nominal values

2. Vesting Schedule: Detailed timeline and milestones for share vesting

3. Intellectual Property Schedule: List of IP assets being transferred to the company

4. Founder Details: Personal information and contact details of all founders

5. Company Information: Corporate details including registration number and address

6. Agreed Form Documents: Template documents for future use (share transfers, resignations, etc.)

7. Business Plan: Initial business plan and financial projections

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Clauses
Interpretation
Share Allocation
Capital Contribution
Vesting
Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Pre-emptive Rights
Board Composition
Management Rights
Reserved Matters
Voting Rights
Dividend Rights
Intellectual Property
Confidentiality
Non-Competition
Non-Solicitation
Representations and Warranties
Founder Commitments
Good/Bad Leaver Provisions
Exit Provisions
Death and Incapacity
Dispute Resolution
Governing Law
Force Majeure
Amendment
Termination
Notices
Assignment
Severability
Entire Agreement
Language
Costs
Relevant Industries

Technology

E-commerce

Financial Services

Healthcare

Education

Manufacturing

Professional Services

Media and Entertainment

Retail

Food and Beverage

Agriculture

Real Estate

Transportation

Energy

Consumer Goods

Relevant Teams

Legal

Corporate Secretarial

Executive Leadership

Board of Directors

Corporate Governance

Finance

Compliance

Human Resources

Strategy

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Technology Officer

Chief Operating Officer

Founder

Co-Founder

Managing Director

Company Director

Corporate Secretary

General Counsel

Legal Director

Board Member

Commissioner

Legal Manager

Corporate Lawyer

Investment Manager

Startup Founder

Entrepreneur

Industries
Law No. 40 of 2007 on Limited Liability Companies (Company Law): The fundamental law governing corporate structures in Indonesia, including share ownership, shareholder rights, corporate governance, and capital requirements
Law No. 25 of 2007 on Investment: Regulates both domestic and foreign investment in Indonesian companies, including ownership restrictions and investment requirements
Indonesian Civil Code (KUHPerdata): Provides the basic principles of contract law, including formation, validity, and enforcement of agreements
Law No. 13 of 2003 on Employment: Relevant for founder employment terms, especially if founders will serve as directors or have employment relationships with the company
OJK Regulation No. 15/POJK.04/2020: Regulates shareholders' rights and responsibilities, particularly important for planning future corporate actions or IPO
Government Regulation No. 8 of 2021: Details the authorized capital requirements and procedures for company establishment
Law No. 24 of 2009 on National Flag, Language, Emblem and Anthem: Requires agreements involving Indonesian parties to be drafted in Indonesian language or bilingual format
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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