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Founder Termination Agreement
"Need a Founder Termination Agreement for a Singapore tech startup where the founder will retain 10% of their shares but resign from all positions, with a 12-month non-compete period starting March 2025."
1. Parties: Identification of the company and the departing founder
2. Background: Brief history of founder's involvement and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Effective Date of Termination: Specific date when founder's roles and responsibilities cease
5. Share Treatment: Handling of founder's shares, including transfer or retention terms
6. Resignation from Positions: Formal resignation from all positions (director, officer, etc.)
7. Final Payments: Details of final compensation, benefits, and outstanding amounts
8. Confidentiality Obligations: Ongoing duties regarding company confidential information
9. Return of Property: Process for returning company assets and documents
1. Severance Package: Additional compensation terms beyond statutory requirements
2. Transition Services: Terms for temporary advisory or handover services if founder will assist with transition period
3. Non-Compete Provisions: Restrictions on future competitive activities to protect company interests
4. Mutual Release: Release of claims between parties for a clean break with no future claims
5. Ongoing Obligations: Continuing duties post-termination when founder retains certain responsibilities
1. Schedule 1 - Share Details: Complete breakdown of share ownership and transfer terms
2. Schedule 2 - Company Property: List of items to be returned to company
3. Schedule 3 - Final Payment Calculation: Detailed breakdown of all final payments
4. Appendix A - Resignation Letters: Form of resignation from various positions
5. Appendix B - Share Transfer Forms: Required documentation for share transfers
Authors
Board
Business Day
Company
Completion Date
Confidential Information
Director Resignation Letter
Effective Date
Encumbrance
Founder
Founder Shares
Group
Intellectual Property Rights
Non-Compete Period
Parties
Resignation Date
Restricted Business
Restricted Territory
Share Transfer Documents
Shareholders' Agreement
Termination Benefits
Termination Payments
Transaction Documents
Vested Options
Working Hours
Interpretation
Definitions
Resignation and Termination
Share Treatment
Final Payments
Benefits
Severance
Return of Property
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Non-Disparagement
Release of Claims
Transitional Arrangements
Continuing Obligations
Tax Matters
Public Announcements
Data Protection
Further Assurance
Notices
Assignment
Entire Agreement
Variation
Severability
Waiver
Costs
Governing Law
Dispute Resolution
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