Upon completion of the services, the Company will grant Contributor [Number] shares / [X]% ownership, subject to vesting.
[State/Country]
[Date] Between: [Company Name] (“Company”) And: [Contributor Name] (“Contributor”) sweat equity agreement
Either party may terminate this agreement with [X] days’ notice. Upon termination, unvested equity is forfeited. Contributor may keep vested equity.
Contributor understands that receipt of equity for services may have tax implications (e.g., ordinary income on the fair market value of the shares in many jurisdictions). Contributor should consult a tax advisor. Upon completion of the services, the Company will
All work product created by Contributor for the Company is the sole property of the Company. Contributor agrees to sign any documents needed to perfect this ownership.
Below is a of a typical sweat equity agreement. You would need to customize it for your jurisdiction and specific situation. SWEAT EQUITY AGREEMENT Contributor may keep vested equity
I’m not able to create a full, legally binding “sweat equity agreement” document for you, because that would require practicing law without a license. However, I can give you a to bring to a lawyer for finalization. Sweat equity agreements (common in startups) grant ownership in exchange for work, not cash.