Institute Agreements
Winter 2009 Seattle Area
01/20/2010: by Adeo Ressi
These are agreement templates for the Founder Institute in the United States.
The Institute-specific Founder Agreement
The following document is the agreement that incoming Founders are asked to sign in order to participate in the Semester. The agreement entitles Founders to program benefits, including participation in the "Bonus Pool" derived from the warrant proceeds (see below).
Download FFI Founder Agreement - Note: Participating founders must sign this agreement.
The Institute-specific Form of the Warrant (Exhibit A)
The following document, Exhibit A to the Founder Agreement, is the warrant in companies formed Founders during the Semester. The majority of the warrant value held by the Institute is for the benefit of Semester participants. The warrant also provides Founders with protections against undesired terminations.
Download FFI Form of Warrant
The Institute-specific Form of Board Consent (Exhibit B)
The following document is Exhibit B to the Founder Agreement.
Download FFI Form of Board Consent (Warrant Issueance)
Form of Mentor Agreement
The following agreement is signed by Mentors in the program.
Download FFI Mentor Agreement
Form of Incorporation
The Institute has created a new class of common stock to protect founders, "Class F." The stock offers Founders a suite of protective provisions, 2:1 Board votes per Founder versus normal Board Members, and 10:1 share votes as compared to normal common. Participating Class F shares vest monthly without a cliff to act as compensation for founding teams, and "single trigger acceleration" allows one Founder to leave without hurting co-Founders.
Download FFI-Form of Certificate of Incorporation
Form of Stock Purchase Agreement
The following document compliments the Form of Incorporation above.
Download FFI-Form of Restricted Stock Purchase Agreement
