3 ms·
No cliff for founders. Reverse vesting (you own your shares upfront). Presumably, you have been vesting already for a few months, so you are ahead. I would also
by alain94040 17y ago
No cliff for founders. Reverse vesting (you own your shares upfront). Presumably, you have been vesting already for a few months, so you are ahead. I would also recommend at most 51/59 split, not 50/50. You need a way to resolve deadlocks.
By the way, consider using my online cofounders agreement before you incorporate (http://fairsoftware.net http://fairsoftware.net), so you can keep working on your project longer before seeing a lawyer (not that I'm advising you not to see a lawyer :-)
The system we use is monthly vesting over 4 years, no cliff. I think that's the only fair thing to do with founders.
- jacquesm 17y agoThe best way to resolve deadlocks is to have a partner with a small %age (say 2%, or just a few votes), preferably someone that the other founders trust as being good counsel. Also, I think you meant 51/49. Fully agree with the 'no cliff'.
- matt1 17y agoThanks. Can you clarify: how would I have been vesting if I haven't incorporated yet?
- alain94040 17y agoWhen you eventually incorporate, you can set your vesting start time to whatever you want. If you exaggerate (and claim to be fully vested fr instance), any future investor or partner will request that you fix it. So be fair, and when you incorporate, start your vesting to the date you started really going full speed on your startup. No one will object to that.
- dustingetz 17y agowhats a 'cliff'?