<aside> 💡 Any agreements made about this, even when just verbally agreed

</aside>

Discuss the following topics with each other:

1. Vision and Goals

   • What is success for the startup?
   • What would be success for you personally?
   • What would be a reason to quit/stop?

2. Timeline startup

   • Official start date of founders.
   • Rough expectations of the startup's timeline.
   • When to make things official, and what does that entail.

3. Roles and Responsibilities

   • Expectations for roles, responsibilities, and future titles.
   • What gaps do we have in the team, and how to fill those

4. Equity and Ownership

   • Expectations: what is a founder role?
   • How shares will be divided among founders; percentages (investors prefer one founder with majority), dilution.
   • Cliff and vesting terms, including conditions for equity retention upon departure. (E.g. Cliff of a year, then receive 25%. 4 year vesting in total, graded vesting each month until end of vesting period.)
   • Expectations of taking external investments.

5. Conflict resolution

   • How to resolve disputes on a daily basis.
   • How to resolve a voting deadlock (one founder decides, third-party tie-breaker (if so, who), or predefined process).

6. Founders Compensation and Investment

   • Agree that what compensation will be there from the start.
   • Time/money investment now and conditions in which that changes
   • Compensation expectations and balancing reinvestment with personal income.
   • Compensation cap and conditions for lifting it.

7. Cooperation

   • What do you find important as a team
   • How are we cooperating and communicating?
   • Careful handling of company-owned documents and resources.

8. Exit Strategy

   • Desired exit and how founders can cash out.
   • Determining market value through a designated third party.

9. Next Steps

   • Outline follow-up actions and documentation in a proper founders agreement.