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Confidential

Template co-founder agreement – short form
User notes

This document is a short form co-founder
agreement intended for use by the founders
of a new start up who wish to provide for
some level of claw-back of a co-founder’s
initial shareholding if he or she ceases to
work for the company (whether as an
employee or contractor). In this document,
the company’s right to purchase shares is
limited to a situation where the co-founder
ceases to work for the company, i.e. there is
no expected contribution from the cofounder. If you would like the company to be
able to repurchase shares for a failure by the
co-founder to contribute to the company, use
the long form of this document on our
website instead.

circumstances, the implementation of
vesting arrangements in New Zealand
companies may give rise to tax
liabilities

founders need to think carefully about
the % of each co-founder’s shares
that are subject to vesting, and about
the overall vesting period. The forced
sale of s