Founders Agreement Template Y Combinator

September 20, 2021

22. Attornment. The parties shall be subject to the exclusive jurisdiction of the courts of the city [CITY] with respect to all disputes arising out of this Agreement or the transactions provided for in this Agreement. 30. Global Agreement. The Parties acknowledge that this Agreement constitutes the entire Agreement between the Parties with respect to the subject matter of this Agreement and that it may only be modified by another written agreement signed by all Parties. It is recognized and agreed that there are no assurances or oral guarantees between the parties. Even with a carefully crafted creative agreement, unpredictable problems will arise. Your FA can provide provisions that help define a process for handling unexpected scenarios, for example.B. if a partner leaves. Founders often don`t need emergency measures, but at least a lock-up period can protect your startup and your relationship for all co-founders. The founders of BlackBuck also unanimously agreed on the titles and who would act as CEO. This scenario is relatively rare.

Often, when there are two or more co-founders, everyone expects to become CEO. If you plan to discuss your expectations for titles and general responsibilities at an early stage with your co-founder, you can mitigate future conflicts. If the co-founders have different individual skills, the roles may fall on the spot and you might be tempted to give up writing a founding agreement. For example, when three co-founders launched BlackBuck in 2015, they divided roles based on their skills. Each agreed to accept a functional lead tailored to their skills: fundraising, operations and distribution. But many co-founders have significant overlap in capabilities and expectations. Examining the key concepts – roles and responsibilities – in your founders` agreement becomes crucial. A business start-up agreement performs several important functions.

While this is important for getting a business up and running quickly through teamwork and collaboration, you can see all the way that there is confusion about “who does what?” and “Who is who?” Confusion can lead to quarrels between co-founders over each person`s title and why. Eliminate this risk early on by sketching out the roles and titles of each co-founder in your founding agreement.

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