Hi Silicon beachers, We're setting up our new startup and working through the legals associated with starting a company.
I started by downloading the Startmate Shareholders Agreement (http://www.startmate.com.au/financing-docs) and similar docs. They're great (e.g. I like the approach to 4 year vesting) but given we're not going to be working equal amounts in the early stages we'd like a more flexible structure where the amount vested can be adjusted over that time. Slicing Pie (http://www.slicingpie.com/) proposes what seems like a fair model based on effort and input, but seems like it could be a little complicated to administer. Also, I've heard that there could be some legal issues implementing this model in Australia. Does anyone suggest an approach and how to capture it in the legal docs? E.g. Here's some ideas: 1) Allocate shares and vesting based on the ratios we foresee right now. Meet periodically and issue new shares to re-balance things based on a pre-agreed method. 2) Issue new shares every month (or quarter or year) based on tracked effort over that period. 3) Somehow issue shares into a fund, that is then issued to founders over time. What's the legal implementation of this concept? 4) Other ideas? How should this be reflected in the shareholders agreement or other docs? Cheers, Jim -- -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en --- You received this message because you are subscribed to the Google Groups "Silicon Beach Australia" group. To unsubscribe from this group and stop receiving emails from it, send an email to silicon-beach-australia+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
