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LegalIndiaStandard Verified Compliance Template

Free Founders Agreement (Expanded) Template

Comprehensive Founders Agreement template for India. Cover equity, vesting, roles, disputes, and IP assignment. Pro-grade boilerplate vetted by certified domain experts. Use it as a raw document, or automate it in Glomiq to eliminate manual copy-pasting.

Verified Compliance Document
Vetted by: Ashay Shah
GLOMIQ DRAFT
EXPANDED FOUNDERS AGREEMENT
This Comprehensive Founders Agreement ("Agreement") is executed on [DATE] at [CITY] by and between:
1. [FOUNDER_1_NAME], residing at [ADDRESS_1] (hereinafter called "Founder 1"); and
2. [FOUNDER_2_NAME], residing at [ADDRESS_2] (hereinafter called "Founder 2").
(collectively referred to as the "Founders").
1. COMPANY AND OBJECTIVES. The Founders have agreed to establish a company under the name "[COMPANY_NAME]" for the purpose of [BUSINESS_DESCRIPTION].
2. EQUITY OWNERSHIP. The initial equity shareholding shall be:
- Founder 1: [PERCENTAGE_1]%
- Founder 2: [PERCENTAGE_2]%
3. VESTING SCHEDULE. All equity shares are subject to a [VESTING_YEARS]-year vesting schedule with a [CLIFF_MONTHS]-month cliff period. Upon the cliff period, shares shall vest monthly pro-rata. If a Founder departs before cliff completion, unvested shares revert to the Company.
4. ROLES AND RESPONSIBILITIES.
- Founder 1 shall serve as [ROLE] with responsibility for [AREAS].
- Founder 2 shall serve as [ROLE] with responsibility for [AREAS].
5. CAPITAL CONTRIBUTION. The Founders shall contribute initial capital as follows:
- Founder 1: ₹[AMOUNT_1]
- Founder 2: ₹[AMOUNT_2]
6. INTELLECTUAL PROPERTY. All intellectual property, inventions, code, designs, and materials created by the Founders in relation to the Company's business shall be assigned to the Company.
7. NON-COMPETE AND NON-SOLICIT. For [YEARS] years after departure, Founders shall not compete with the Company or solicit employees and customers.
8. DECISION MAKING. Major decisions require unanimous consent of Founders. Day-to-day operational decisions may be made by the responsible Founder.
9. INVESTOR RIGHTS. Future investors may require modifications to this agreement, including anti-dilution provisions and board seats.
10. DISPUTE RESOLUTION. Disputes shall be resolved through [MECHANISM: arbitration/mediation/court].
[FOUNDER_1_NAME]
Signature: ______________________
[FOUNDER_2_NAME]
Signature: ______________________

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Expert Drafting Guide & Clause Commentary

Compiled by Ashay Shah. Critical checkpoints before finalizing this document.

1Standard Terms and Definitions▼
Clause Context:

Defines the main terms used throughout the document.

Negotiating Tip:

Ensure definitions are consistently used across all sections to avoid conflicting interpretations.

2Governing Law and Jurisdiction▼
Clause Context:

Determines which courts will settle disputes.

Negotiating Tip:

Set the governing law to your local jurisdiction to minimize travel and legal overhead in the event of a dispute.

Compliance Watchouts

  • Review all placeholders carefully before signing.
  • Consult a professional advisor if editing core clauses.
A

Ashay Shah (Founder, Glomiq)

Ashay is the founder of Glomiq. He is passionate about reducing administrative overhead for Indian professionals. Prior to Glomiq, Ashay spent 6 years leading engineering and product teams building automated document infrastructure and SaaS systems.

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