Muftasoft TM

This page is read only. You can view the source, but not change it. Ask your administrator if you think this is wrong.
**Work for Shares Compensation Contract**

This Work for Shares Compensation Contract (the "Contract") is entered into between [Your Company Name], a [Jurisdiction] registered company, hereinafter referred to as the "Company," and [Employee/Contractor Name], an individual, hereinafter referred to as the "Recipient."

**1. Engagement and Equity Allocation:**

The Recipient agrees to provide services to the Company as [Position/Role] in accordance with the terms of this Contract. In consideration for the services provided, the Company shall allocate equity shares to the Recipient as follows:

Total Equity Allocation: [Total Number/Percentage] of the Company's total outstanding shares.

**2. Vesting Schedule:**

The allocated equity shares will vest over a [Vesting Period] period, subject to the Recipient's continued engagement with the Company. The vesting schedule is as follows:

[Vesting Schedule Details, e.g., "20% of the shares will vest after the first year, with the remaining 80% vesting monthly over the next three years."]

**3. Performance and Termination:**

The Recipient's equity allocation is contingent upon the satisfactory performance of duties outlined in the agreed-upon role. In the event of voluntary resignation or termination due to cause, unvested equity shares shall be forfeited.

**4. Conversion to Salary:**

Upon successful funding or as mutually agreed upon by both parties, the Company may choose to offer the Recipient a salaried position based on market rates and performance evaluations. Such a decision will not affect the vested equity shares.

**5. Shareholder Rights:**

Once vested, the Recipient shall be entitled to all rights associated with being a shareholder, including voting rights, dividends, and any other rights as defined by the Company's Bylaws.

**6. Confidentiality and Non-Compete:**

The Recipient agrees to abide by the Company's confidentiality and non-compete policies during and after their engagement with the Company.

**7. Governing Law:**

This Contract shall be governed by and construed in accordance with the laws of [Jurisdiction]. Any disputes arising out of or in connection with this Contract shall be resolved through arbitration in accordance with the rules of the [Arbitration Institution] in [Jurisdiction].

**8. Entire Agreement:**

This Contract constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.

In witness whereof, the parties have executed this Work for Shares Compensation Contract as of the [Date].

**Company:**

[Company Name]

By: ______________________________

[Authorized Signatory]

[Date]

**Recipient:**

[Employee/Contractor Name]

By: ______________________________

[Recipient's Signature]

[Date]