Founders Restricted Share Subscription Agreement
A Founders Restricted Share Subscription Agreement is an agreement made between a company and its founder for allotment of shares that places certain restrictions on its transfer.
This is common with Start-ups, where generally common stock that is subject to standard transfer restrictions for private company stock and repurchase or forfeiture based on a vesting schedule. Vesting is usually over a certain period with the first vesting event taking place at 12 months and conditioned upon the stockholder maintaining their relationship with the company as an employee or officer.
Founders use restricted share to ensure that each of the other founders continues to contribute to the company.
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