The Startup Founder Employment Agreement is a crucial document used when formalizing the employment relationship between a startup company and its founder(s) in India. It becomes necessary either at the company's incorporation or when transitioning from an informal arrangement to a structured employment relationship. This agreement is particularly important in the Indian startup ecosystem, where it helps establish clear boundaries between the founder's roles as both an employee and a key stakeholder. The document addresses various aspects including equity compensation, intellectual property rights, confidentiality, and non-compete provisions, while ensuring compliance with Indian corporate and employment laws. It's designed to protect both the company's interests and the founder's rights, particularly important given India's growing startup landscape and the need for clear governance structures in early-stage companies.
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1. Parties: Identifies the company and the founder-employee as parties to the agreement
2. Background: Outlines the context of the agreement, including the company's formation and the founder's role
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Role: Details the founder's position, duties, and responsibilities
5. Term and Commitment: Specifies the duration of employment and level of commitment expected
6. Remuneration and Benefits: Details salary, benefits, and other compensation components
7. Equity Arrangements: Outlines the founder's equity stake, vesting schedule, and related terms
8. Intellectual Property Rights: Addresses ownership and protection of IP created during employment
9. Confidentiality: Defines confidential information and obligations to protect it
10. Non-Competition and Non-Solicitation: Specifies restrictions on competitive activities and employee/client solicitation
11. Termination: Details circumstances and procedures for ending the employment relationship
12. Post-Termination Obligations: Outlines continuing obligations after employment ends
13. General Provisions: Includes standard contractual terms like governing law, notices, and amendments
1. Board Position: Include when the founder will serve as a director, specifying board responsibilities and terms
2. Additional Ventures: Include when the founder may be permitted to engage in other business activities
3. International Travel: Include for roles requiring significant international travel
4. Retirement Benefits: Include for more established startups offering retirement plans
5. Performance Metrics: Include when specific performance targets are tied to compensation or equity
6. Change of Control: Include provisions for founder's rights in case of company sale or merger
7. Dispute Resolution: Include detailed arbitration or mediation procedures if desired
8. Founder Exit Rights: Include specific provisions for founder's exit scenarios
1. Schedule 1 - Duties and Responsibilities: Detailed list of founder's roles and responsibilities
2. Schedule 2 - Compensation Structure: Detailed breakdown of salary, bonuses, and benefits
3. Schedule 3 - Equity Vesting Schedule: Detailed terms of equity vesting including milestones and timeframes
4. Schedule 4 - Company IP: List of existing IP and provisions for new IP
5. Schedule 5 - Approved External Activities: List of pre-approved external business activities or board positions
6. Appendix A - Share Option Agreement: Detailed terms of any share options granted
7. Appendix B - Confidentiality Agreement: Detailed confidentiality terms and procedures
8. Appendix C - Key Performance Indicators: Specific performance metrics and evaluation criteria
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