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Share Vesting Agreement
"I need a Share Vesting Agreement for our Nigerian tech startup, covering 50,000 ordinary shares vesting over 4 years starting January 2025, with a one-year cliff period and monthly vesting thereafter, including accelerated vesting provisions in case of company sale."
1. Parties: Identification of the company, the shareholder(s), and any other relevant parties to the agreement
2. Background: Context of the agreement, including the company structure and purpose of the vesting arrangement
3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement
4. Grant of Shares: Details of the shares being subject to vesting, including number, class, and nominal value
5. Vesting Schedule: Specific timeline and conditions for the vesting of shares
6. Vesting Conditions: Performance metrics, time-based conditions, or other requirements for vesting
7. Rights and Restrictions During Vesting Period: Shareholder rights and limitations while shares are unvested
8. Treatment of Unvested Shares: Procedures for handling unvested shares upon termination or other trigger events
9. Company's Right to Repurchase: Terms under which the company can repurchase unvested or vested shares
10. Transfer Restrictions: Limitations on the transfer of vested and unvested shares
11. Taxation: Tax obligations and responsibilities related to the vesting arrangement
12. Confidentiality: Provisions regarding the confidential treatment of agreement terms and company information
13. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Accelerated Vesting: Terms for accelerated vesting in case of change of control or other specified events
2. Tag-Along Rights: Rights of the vesting shareholder to participate in sale of shares by other shareholders
3. Drag-Along Rights: Company's right to force the shareholder to participate in a sale of the company
4. Foreign Exchange Provisions: Special provisions for compliance with Nigerian forex regulations if international parties are involved
5. Board Matters: Provisions regarding board representation or observer rights
6. Non-Competition and Non-Solicitation: Restrictions on competitive activities and employee solicitation
7. Dispute Resolution: Alternative dispute resolution mechanisms such as arbitration or mediation
8. Share Valuation: Methodology for valuing shares for purposes of repurchase or transfer
1. Schedule 1 - Share Details: Detailed information about the shares subject to vesting, including class rights and privileges
2. Schedule 2 - Vesting Schedule: Detailed timetable of vesting dates and corresponding percentages or numbers of shares
3. Schedule 3 - Performance Metrics: Detailed description of any performance-based vesting conditions
4. Schedule 4 - Form of Share Certificate: Template for share certificates to be issued for vested shares
5. Schedule 5 - Deed of Adherence: Form of deed to be signed by transferees of shares
6. Appendix A - Corporate Authorizations: Copies of board and shareholder resolutions approving the vesting arrangement
7. Appendix B - Share Valuation Methodology: Detailed procedures for share valuation when required
Authors
Technology
Financial Services
Professional Services
Startups
E-commerce
Telecommunications
Manufacturing
Healthcare
Energy
Real Estate
Mining
Agriculture
Education
Media and Entertainment
Legal
Human Resources
Finance
Executive Leadership
Corporate Secretariat
Compliance
Tax
Operations
Board of Directors
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Technology Officer
Chief Legal Officer
General Counsel
HR Director
Company Secretary
Finance Director
Legal Counsel
HR Manager
Compensation and Benefits Manager
Corporate Attorney
Investment Manager
Board Member
Executive Director
Managing Director
Startup Founder
Co-founder
Senior Software Engineer
Chief Product Officer
Vice President of Sales
Head of Operations
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