Preparation of Bond for onboarding a co-founder
Any format we can use from online to draft this bond.
As per the offer letter, we would like draft a bond on these terms:
A) 20% of Equity Shares will be offered for the role of “Co-Founder & Chief Technology Officer
B) The profit-sharing ratio will be similar to the share percentage ratio of 5: 25.
C) The share dilution will be similar to the share percentage ratio mentioned above (5: 25).
D) The shares would be Locked for a Period of 365 Days and the same would be provided over a Bond (agreement) where he/she will get full entitlement over the Shares only after completing 365 days with "the company" starting date
E) Entitlement for the shares are subject to successful completion of work and completion of tenure of 365 days in "company" starting date
F) No guarantee of any success/fund procurement can be given due to the volatile nature of the business we are conducting.
G) For any decision involving the conduct of business, a unanimous decision by all shareholders is required to proceed further.