The Founders Service Agreement is a crucial document used when establishing or formalizing the relationship between a founder and their company in Indonesia. It is particularly relevant during company formation, restructuring, or when clarifying existing founder arrangements. The agreement complies with Indonesian corporate law, including Law No. 40 of 2007 on Limited Liability Companies, and addresses key aspects such as service scope, compensation, equity arrangements, intellectual property rights, and confidentiality obligations. This document is essential for protecting both the company's and founder's interests, ensuring clear governance structures, and preventing future disputes. It should be drafted in both Indonesian and English languages to comply with Law No. 24 of 2009, with the Indonesian version prevailing in case of inconsistencies.
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1. Parties: Identification of the company and the founder, including complete legal names, addresses, and registration details
2. Background: Context of the agreement, including company formation, founder's role, and purpose of the agreement
3. Definitions: Key terms used throughout the agreement, including 'Services', 'Intellectual Property', 'Confidential Information', etc.
4. Appointment and Term: Terms of the founder's appointment, duration, and renewal provisions
5. Services: Detailed description of services to be provided by the founder, including roles, responsibilities, and time commitment
6. Compensation: Details of founder's compensation, including salary, benefits, and equity arrangements
7. Intellectual Property Rights: Assignment and protection of IP created during the service period
8. Confidentiality: Obligations regarding confidential information and trade secrets
9. Non-Competition and Non-Solicitation: Restrictions on competitive activities and solicitation of employees/clients
10. Termination: Grounds and procedures for termination of the agreement
11. Post-Termination Obligations: Continuing obligations after the agreement ends
12. Governing Law and Dispute Resolution: Choice of law and dispute resolution mechanisms
13. General Provisions: Standard clauses including notices, amendments, and severability
1. Performance Metrics: Specific KPIs and performance evaluation criteria - include when founder's compensation is performance-based
2. Share Vesting: Details of share vesting schedule and conditions - include when equity is part of compensation
3. International Travel: Terms regarding international travel and related expenses - include for companies with international operations
4. Board Position: Terms of board membership and responsibilities - include when founder will serve on board
5. External Activities: Provisions regarding permitted external business activities - include when founder maintains other business interests
6. Founder Team Dynamics: Provisions regarding decision-making between co-founders - include when multiple founders are involved
7. Force Majeure: Provisions for unforeseen circumstances affecting service delivery - include for longer-term agreements
1. Schedule 1 - Services Description: Detailed scope of services and responsibilities
2. Schedule 2 - Compensation Structure: Detailed breakdown of all compensation elements
3. Schedule 3 - Share Vesting Schedule: Details of equity vesting timeline and conditions
4. Schedule 4 - Company IP: List of existing company IP that founder will have access to
5. Schedule 5 - Performance Metrics: Detailed KPIs and evaluation criteria
6. Appendix A - Confidentiality Agreement: Detailed confidentiality terms and requirements
7. Appendix B - Compliance Guidelines: Company compliance requirements and procedures
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