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ASK HN: Sample contract for vested shares for a new cofounder
Hi,
I'm bringing onboard a new cofounder for my startup. After negociations, we decided that he would get a percentage of the company vested of 2 years and be paid a small salary hourly to cover cost of living.
Does anyone know a good sample contract I could use for that? My company has already existed for 1 year and is a offshore LLC (based in HK).
Are their any tax liabilities or other things I should think about?
Thanks
- hajrice 16y agoHey, you have a typo in your second sentence. "...negociations..." should be negotiations. Good luck btw!
- EuclidCapital2 16y agoNormally would be done as: he buys stock, the company has "repurchase rights" over those shares, repurchase rights "vest" / "expire" ratable over 3-4rys. (your case 2yrs). This would be a term in your "Stock Purchase Agreement" (if you were a corp).
- song 16y agoThanks, so what is the advantage of making him buy stocks instead of giving it to him? For tax questions? So how do I determine the price he buys stock at? and do I give him the money for buying it ? Cheers