The Founder Agreement v2
The following document is the Founder Agreement. The Founder Agreement provides various protections and benefits, including participation in shared equity upside from their peers, called a "Bonus Pool." Founders must sign Page 9 to enroll in the program. If a Founder has an existing company when entering the program, the Founder must also sign on Page 10 when enrolling, or, when a Founder creates a company in the program, the Founder must sign and upload Page 10.
Learn about joining the Bonus Pool.
Corporate Conversion Agreement
The following document is the Corporate Conversion Agreement that you will need to sign to join the Bonus Pool and graduate from the Founder Institute. The Corporate Conversion Agreement shares economic upside from your company with the Bonus Pool without having to issue any form of equity. This Agreement is used as a substitute for Option or Warrant Agreements that can only be issued by corporations that are more expensive and complicated to set-up. Founders can incorporate simpler and less expensive corporations and join the Bonus Pool with the Corporate Conversion Agreement, and then the company will issue Option or Warrant Agreements when they get larger and change their corporate format to accommodate growth. The majority of the Corporate Conversion Agreement value held by the Institute is for the benefit of Semester participants.
Form of the Option Agreement
The following document is the Form of an Option Agreement in Turkey that you will need to issue for your company to join the Bonus Pool and graduate from the Founder Institute. The majority of the Option value held by the Institute is for the benefit of Semester participants. The Option also provides Founders with protections against undesired terminations.
Form of Board Consent