The Founder Employment Agreement is essential when formalizing the employment relationship between a founder and their company in Nigeria. This document is typically used during company formation, after seed funding, or when transitioning from an informal to a formal business structure. It comprehensively addresses the dual role of the founder as both an employee and a key stakeholder, covering standard employment terms required by Nigerian law while incorporating provisions for equity ownership, intellectual property rights, and founder-specific duties. The agreement must comply with various Nigerian regulations, including the Labour Act, CAMA 2020, and relevant tax laws, while protecting both the company's and founder's interests. It's particularly crucial for startups and growing companies to establish clear terms of engagement, responsibilities, and rights for their founders.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification of the company and the founder-employee
2. Background: Context of the agreement, founder's role in establishing the company, and purpose of the employment relationship
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Position, effective date, and duration of employment
5. Duties and Responsibilities: Founder's roles, responsibilities, and performance expectations
6. Working Hours and Location: Work schedule, place of work, and flexibility arrangements
7. Remuneration and Benefits: Salary, bonuses, equity compensation, and other benefits
8. Share Ownership and Vesting: Details of founder's equity stake and vesting schedule
9. Intellectual Property Rights: Assignment of IP created during employment and pre-existing IP provisions
10. Confidentiality: Protection of company secrets and confidential information
11. Non-Competition and Non-Solicitation: Restrictions on competing activities and soliciting employees/customers
12. Termination: Grounds for termination, notice periods, and consequences
13. Post-Termination Obligations: Ongoing duties and restrictions after employment ends
14. General Provisions: Standard boilerplate clauses including governing law, notices, and amendments
1. Board Position: Terms of founder's position on the board of directors, if applicable
2. International Travel: Terms for international travel if company has overseas operations
3. Sabbatical Rights: Terms for taking extended leave while maintaining equity rights
4. External Activities: Terms for participating in speaking engagements, boards, or other external activities
5. Family Benefits: Special provisions for founder's family members regarding health insurance or death benefits
6. Founder Buy-Back Rights: Terms for buying back shares upon certain trigger events
7. Successor Provisions: Terms for training and transitioning to a successor
8. Crisis Management: Special powers and responsibilities during company crises
1. Schedule 1 - Position Description: Detailed description of founder's role, duties, and performance metrics
2. Schedule 2 - Compensation Package: Detailed breakdown of salary, bonuses, equity, and benefits
3. Schedule 3 - Share Vesting Schedule: Detailed vesting terms, including acceleration provisions
4. Schedule 4 - Pre-Existing IP: List of intellectual property excluded from company ownership
5. Schedule 5 - Company Policies: Key company policies applicable to the founder
6. Schedule 6 - Approved External Activities: List of pre-approved external commitments and activities
7. Appendix A - Share Option Agreement: Detailed terms of any share option arrangements
8. Appendix B - Confidential Information: Detailed description of what constitutes confidential information
Find the exact document you need
Company Founders Agreement
A Nigerian law-governed agreement establishing the relationship between company founders, their rights, responsibilities, and obligations under CAMA 2020.
Download
Founder Employment Agreement
Nigerian law-governed employment agreement for company founders, combining standard employment terms with founder-specific provisions including equity arrangements and special responsibilities.
Download
Co Founder Vesting Agreement
A Nigerian law-governed agreement that structures the gradual acquisition of company shares by co-founders through a vesting schedule.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it