

ASK HN: Sample contract for vested shares for a new cofounder - song

Hi,<p>I'm bringing onboard a new cofounder for my startup. After negociations, we decided that he would get a percentage of the company vested of 2 years and be paid a small salary hourly to cover cost of living.<p>Does anyone know a good sample contract I could use for that? My company has already existed for 1 year and is a offshore LLC (based in HK).<p>Are their any tax liabilities or other things I should think about?<p>Thanks
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EuclidCapital2
Normally would be done as: he buys stock, the company has "repurchase rights"
over those shares, repurchase rights "vest" / "expire" ratable over 3-4rys.
(your case 2yrs).

This would be a term in your "Stock Purchase Agreement" (if you were a corp).

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song
Thanks, so what is the advantage of making him buy stocks instead of giving it
to him? For tax questions?

So how do I determine the price he buys stock at? and do I give him the money
for buying it ?

Cheers

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hajrice
Hey, you have a typo in your second sentence. "...negociations..." should be
negotiations.

Good luck btw!

