Stock Option Agreement Startup Template

Like the merger clause, this clause prevents the buyer from claiming you made an oral side agreement to change the written stock purchase agreement. There is no need to re-invent a contract. Shultz, Attorney at Law +1 510-547-0545 dana [at] danashultz [dot] com This blog does not provide legal advice and does not create an attorney-client relationship. This agreement should set out the terms and conditions of the sale, which might include the amount of stock purchased, the purchase price, and the purchaser's commitment to abide by the shareholders' agreement and bylaws. Your vesting schedule. 6 billion deal to buy Swiss payments company Global Blue. Download and subscribe to fair and standardized term sheets, shareholders' agreements, employment agreements, NDAs, guides to stock options & more. 1 Grant of Option. The normal framework for the value pricing proposal should encompass this basic sequence: Situation Appraisal: Summarize and reconfirm the conceptual agreement con-cerning the condition to be improved and the desired state. Corporate Formation Documents. What happens when you leave the company. Founders use restricted stock to ensure that each of the other founders continues to contribute to the corporation. Right of first refusal: The plan (and related Stock Option Agreement) can. The price is known as the grant price or strike price, and it's typically based on a discounted version of the price of the stock at the time of hire. Research Stocks, ETFs, Options, Mutual Funds. Client will not require Contractor to rent or purchase any equipment, product, or service as a condition of entering into this Agreement. Over 300+ Financial APIs available. I have wanted to work for your company for some time. Be clear and inform You cannot assume that the reader of your plan knows anything beyond what you have stated in the plan. The Shareholders Agreement - A Sample Agreement (Note - this is just a sample agreement set in the legal context of the United States to serve as food for thought. That's a common exit scenario. You should be aware that options are contracts, and like any contract, the option terms can be changed by agreement of the parties. Independent Contractor Status. For example, a company might offer an employee the ability to buy ten shares of stock at $10/share in five years. document Stock Option Agreement document Stock Plan (sometimes called a Stock Option Plan, or Stock Award Plan, or Equity Incentive Plan) document Code Section 409A Waiver and Release (sometimes part of the ; Stock Option. This document represents the standard provisions for a Silicon Valley start-up company. The amount due will include any interest charged. Buyer/Tenant shall remit option consideration in the sum of $_____ to Seller/Landlord upon execution of this Option to Purchase Agreement, which amount is non-refundable. Usually, no cash outlay is necessary until the stock or the option vests, which is a significant advantage for growing firms. It gives you the right to the monetary equivalent of the appreciation in the value of a specified number of shares over a specified period of time. We believe in open knowledge , knowledge sharing and the value of public domain. A startup term sheet is drawn up before the rest of the legal financing documents. Your vesting schedule. Add to cart; Business Corporation Organizational Minutes. Unfortunately, using the wrong kind of finder , or the wrong kind of finder's agreement , could lead to disaster. Generally, the parties will negotiate control of the company and what cash is received in the event of an exit. Termination Date set forth in the Lease Agreement or the option expiration date set forth in paragraph 1 herein above, whichever is later in time. Founders Shareholder Agreement Template A founders shareholder agreement, also known as SHA (in some cases in the U. Available in all states. Venture Financing / Investing, Mergers & Acquisitions: Intermediation: Sample Venture Capital Finder's Fee Agreement. Purpose of the Agreement X, Y, and Z (names of the organizations which will participate in the collaboration) have agreed to work together to _____ (primary purpose of the collaboration). This Share Option Agreement - Exercise within Agreed Period is between a Company and a Grantee, giving the latter the right to exercise the option to subscribe for new shares within a specified period of time. Option plans typically provide that an employee who is terminated, other than for cause, will have a period of time (usually 60 or 90 days) after termination to exercise vested options. Selling stock to employees can be used in conjunction with an MBO/LMBO. The Canadian Simple Agreement for Future Equity (SAFE) is modelled after the Y Combinator SAFE. Stock Option Agreement. A stock purchase agreement is made between each shareholder and the corporation, which regulates the transfer and sale of the corporation's stock to the shareholder. While your relationship with your co-founder may be peachy right now, there is a possibility it could turn sour down the road. It can all be quite confusing, which is why FindLaw provides an extensive collection of sample contracts and forms commonly used by small businesses. The way to get rich from a startup is to maximize the company's chances of succeeding, not to maximize the amount of stock you retain. Click OK to close the Word Options dialog box. Set Aside Enough Stock Step 2. Employee stock options usually have a one year cliff. A clause in former Skype employee Yee Lee's stock option agreement, for instance, made even his vested options worthless. LAST UPDATED: June 2017. Ownership in the capital of a Company. It allows them to minimize the cash they have to outlay when there isn't a lot of cash to go around. Startup Inc. The benefit to the employee is that, if the employee holds the stock at least 2 years from the date the option was issued and 1 year from the date of exercising the option, the employee will receive capital gains treatment on the spread between the exercise. These are a few. Rather, when a startup first forms, the founders grant themselves Restricted Stock Awards (RSAs) instead of common stock options. Customize any template to suit your specific needs with our drag-and-drop form builder. A stock purchase agreement is the agreement that two parties (the company or shareholders and buyers) sign when shares of a company are being bought or sold. This agreement is made between COMPANY and INVESTOR on the effective date of 21 st May, 2011. The Agreement allows the Parties to specify how much the Broker will be paid for a making an introduction or facilitating a successful final deal. The amount at stake is often several times the employee's salary, and may dwarf the amount of severance the company may offer. If the stock rises, you make money. Startup friendly pricing and they are masters at both Vesting Schedules and/or the Grunt Fund. CalPERS builds retirement and health security for California state, school, and public agency members. Small businesses have many options to provide their employees with meaningful ways to participate in the success of the small business, including stock options, rights plans, restricted stock, long-term incentive plans and phantom stock plans. STOCK OPTION AGREEMENT. In the UK on the other hand, you just sort of write it into your shareholder’s agreement. While your relationship with your co-founder may be peachy right now, there is a possibility it could turn sour down the road. These are readily available online. Ownership in the capital of a Company. 6 steps, parts, options. BPM services include Tax, Audit, and Consulting. Unfortunately, using the wrong kind of finder , or the wrong kind of finder’s agreement , could lead to disaster. Thank you for allowing us to be on your team! - Kevin Kiene. We'll teach you the 18 critical components EVERY consulting contract should include and provide you with a downloadable consulting agreement template in both PDF and Doc form. Right of first refusal: The plan (and related Stock Option Agreement) can. free by Mukund Mohan Series Seed Preferred Stock Purchase Agreement. This template and the content in this article provide general information only, so we would also advise you to consult your attorney about your specific situation. Dear Garrison Computers, Enclosed you will find a check for the sum of $15,000. But, as the rumors go, no other employee made more than $50,000. This template and the content in this article provide general information only, so we would also advise you to consult your attorney about your specific situation. Set Aside Enough Stock Step 2. Respond quickly, professionally, and personally with a click of a button! Email Templates™ provides you with sample templates that you may use immediately!. We have also moved all of the variable definitions to the front of the document so that all of the changes in the document are in one easy to find location instead of scattered. OPTION CONSIDERATION. How to give out share options ‍There are 3 parts to giving out share options. Canva and/or its Contributors reserve all rights in and to the Stock Media not expressly granted to you by the terms of this One-time Use License Agreement. Quick background: 1. Types of startup stock options. Business Plan template A Business Plan is like a blue print for your business - it details all your goals and how you plan to achieve them. Option Agreement. Choose one that best fits your startup or create your own with pieces from different templates. All you need is Acrobat Reader to open the files. - Legal Services for Individuals. Normally employee options vest over 4 years, with 25% vesting after year 1 and then the balance pro rata (monthly or quarterly)…. Asset sale/purchase. customers: Activate online / Download PDF (Get translated Instructions) IRA Options Transactions Authorization and Indemnification Agreement: Authorize E*TRADE Securities to accept instructions for options trades in your IRA: Download PDF. Research Policies HHMI's scientific research is governed by policies that address the conduct of research, the sharing of data and materials, collaborations, and intellectual property, setting high standards for scientific and ethical conduct. Venture Financing / Investing, Mergers & Acquisitions: Intermediation: Sample Venture Capital Finder's Fee Agreement. Option Agreement. Prost (Jan 8, 1999) Stock Option Agreement [Incentive Stock Option] - Green Mountain Coffee Inc. A typical advisor agreement defines the startup-advisor relationship. Take stock of stock and stock options. Therefore, we decided to support you during your production process by listing the most helpful templates, such as storyboard templates, budget sheets and license agreements. The Small Business Start-Up Kit for California shows you how to set up a small business in the Golden State quickly and easily. 3 min read Consulting for equity agreement is a popular avenue taken by companies in their early stages. This price is usually a pre-determined amount and. Under Save, click to clear the Prompt before saving Normal template check box. To ensure that stock issued to founders is properly "earned" by each founding stockholder, startup companies typically put in place stock restriction agreements with each founder. Often, these companies can initially pay rather low salaries only. The price is known as the grant price or strike price, and it's typically based on a discounted version of the price of the stock at the time of hire. Assume on 1/1/2019 you are issued employee stock options that provide you the right to buy 1,000 shares of Widget at a price of $10. But if the agreement in the company's formal stock option plan forbids changes to vesting schedules, the organization could focus negotiations on the number of shares awarded or the terms under. Accordingly, in general, stock option agreements are offered to key employees in conjunction with the employee's initial hire or concurrent with a significant increase in the employee's role or responsibilities at the company. Each employee has been awarded stock options, but the founders currently do not have any stock options. comThursday, May 23, 13 2. The key to future economic prosperity and growth is a strong Indiana business community. Although vesting schedules can be infinitely flexible in theory, in practice they don't vary that much. It clearly explains the fees, forms, and bureaucratic technicalities you’ll encounter and shows you how to get your business up and running. How to Use and Review Non-Disclosure Agreements (NDAs) June 3, 2020. ] The Chairman advise the meeting that it is in the best interests of the Corporation to grant stock options to certain directors, officers, employees and consultants of the Corporation under the terms of the. This is a requirement of Incentive Stock Options (ISOs) and not of Non-qualified stock options (NSOs), but most plans apply the 3-month exercise requirement to both. If it's an informal company you can probably write or template the vesting agreement yourselves. Pursuant to the Grant Notice and this Stock Option Agreement, Your Company, Inc. Come and join us as we go through this megalith of a list of the best free stock photo sites dotted around the web plus a comprehensive guide for using free stock photos safely! Click here to directly go to our list of the best free stock photo sites or get 10 Free Stock Photos here at Shutterstock with their Shutterstock Free Trial. Paul Graham and yCombinator have recently created and publicly recommended the usage of SAFEs over convertible debt notes. Venture Capital Term Sheet Negotiation — Part 15: Rights of First Refusal and Co-Sale November 9, 2014 by Casey W. 612-367-8736 Barnes & Thornburg, LLP 225 S 6th Street, Suite 2800 Minneapolis, MN 55402. A sample provision might read, "This Agreement may be amended only by a written agreement executed by both Parties. Once you have settled on a value, prepare a written stock transfer agreement. Make sure to check out more than one - you might be writing a business plan for a microbrewery, but a sample nightclub business plan might have valuable information you can use for your own plan. (s) “Option” means an Award granted under Section 7and includes both Incentive Stock Options and NonstatutoryStock Options. LAST UPDATED: June 2017. Stock options can bring greater value to the employee. For restricted ESOPs (i. Types of startup stock options. This template is not meant is not intended as legal advice. In addition, employee participation in the business makes sense in order to promote their motivation and identification. Independent Contractor Status. A clause in former Skype employee Yee Lee's stock option agreement, for instance, made even his vested options worthless. The most important elements of a founders agreement. Google and ye shall find. Stock Options. Incentive stock options (ISOs) are a form of tax-advantaged stock option. Prost (Jan 8, 1999) Stock Option Agreement [Incentive Stock Option] - Green Mountain Coffee Inc. Prepare the Stock Option Agreement & Stock Option Grant Step 5. The buyer must negotiate representations and warranties concerning the business’s assets and liabilities, to ensure a complete and accurate understanding of the target company. Read Partners in Business for more information. Employer and Employee further agree that in consideration for the above agreements and promises, Employer will pay Employee as follows: [terms of severance. l hereof by giving two (2) weeks' notice thereof to the Company and the. In this guide you will find items that look at the history of Wall Street. Agreement shall occur simultaneously with the execution of this Agreement by the Parties. All our images come with licenses that allow unlimited digital reproduction and worldwide usage. Equity is the great compensation equalizer in startup companies—the bridge between an executive’s market value and the company’s cash constraints. Stock Option Advantages. It also allows companies to design their own deals when working with investors who rely on their own standardized documents. I have wanted to work for your company for some time. Personal forms typically do not involve more than two or three parties. “You need to be very careful in evaluating what the option offer is worth—if anything!” If a prospective start-up employer does offer equity, the job offer should dictate how much the company can or will offer you. Stock option agreements specify the individual options grants, vesting schedules, and other employee-specific information. This agreement is made between COMPANY and INVESTOR on the effective date of 21 st May, 2011. Once you have settled on a value, prepare a written stock transfer agreement. Create your free repurchase of stock form to organize your company's buyback of shares. If you are a founder seeking funding, expect to create a vesting schedule for you and your team (if you have a team and an entity, you should already have. “When companies cannot offer much by way of salary, they try to entice the employee with stock options” says Rizzo. ” If an option fails to meet this definition (that is, the option is deemed not to have a readily ascertainable FMV at the time of grant), the option becomes taxable at exercise. It is necessary for your startup company to exercise the option to merge with another company should cash flow or liquidity become an issue. Vesting schedules and option agreements go hand in hand for obvious reasons - they create financial incentive for employees (and founders) to stay and contribute to the growth of the startup. If stock options are part of your compensation package — or could be at a new job — you, as an investor, should ask some questions about the company’s option plan so you know what’s what going in. The founders should replace this with a traditional structure if the company obtains significant outside funding, customers, revenue, or takes on other obligations. Google and ye shall find. Stock Purchase Agreement: Everything You Need to Know Startup Law Resources Venture Capital, Financing. The tax differences are summarized in the table, below. The size and terms of these grants can be different from those made to employees and should be considered in your negotiations (see a. The employee stock option agreement grants the employee an option to purchase a fixed amount of. When the company is not able to pay high wages to its. Stock Subject to the Plan. Read next: Legal advice: Lawyers and legal counsel for your startup This article was produced by James Smith and Shane MacLean and is made available through the generosity of Labarge Weinstein Professional Corporation. Pursuant to their law firm agreements, such lawyer-directors may be obligated to turn over the equity (and/or the proceeds upon disposition of the equity) to the law firm. So, for example, if an advisor provides an early-stage startup with an expert level of help by meeting with the team monthly, recruiting some talent, and taking a customer call, then that advisor will earn 1% of the company in the form of restricted stock or options vesting over a two year time period; while a similar level of engagement for a. Immediately following formation, a startup typically has a simple capitalization structure with no options, warrants or other securities that can be converted into stock. The Agreement allows the Parties to specify how much the Broker will be paid for a making an introduction or facilitating a successful final deal. You must do this by 1/1/2029. Sample Buy-Sell Agreement (c) Price and terms: [Check either Option 1a or Option 1b below. “When companies cannot offer much by way of salary, they try to entice the employee with stock options” says Rizzo. All of our Shareholders contracts are professionally drawn by a solicitor - we never compromise on quality. ] The Chairman advise the meeting that it is in the best interests of the Corporation to grant stock options to certain directors, officers, employees and consultants of the Corporation under the terms of the. Each employee has been awarded stock options, but the founders currently do not have any stock options. Time and attendance tracker and labor costing to maximize the efficiency of your workforce. Stock grants in privately held companies can be structured in surprisingly diverse ways, many of which are not commonly known. A rent to own agreement form is a contract between the landlord (a property owner) and tenant (a renter) over a specific property. Andy Rachleff, who founded Wealthfront, outlines the benefits and considerations of vesting stock options. It is essential to ensuring that both entrepreneurs and investors are treated fairly and equitably. Rent to own is a great option for a potential new home owner, as they get the chance to try a property before they buy it. Employer and Employee further agree that in consideration for the above agreements and promises, Employer will pay Employee as follows: [terms of severance. Private companies sometimes partly use stock options (NQSOs, not ISOs) or stock grants, along with or instead of cash, to compensate consultants and independent contractors (separate from grants that public and private companies make to nonemployee directors). IP Assignment Agreement. For example, the Advisor Agreement will typically set forth the advisor's incentive equity amount and type (i. Business Investment Agreement. (Do not confuse stock options with U. Easily editable and reusable PDF Fillable Forms. Check out this post by Brad Feld. The document assumes that the Grantee is a director or full time employee of the Company (or both). - Legal Services for Individuals. After the cliff, you usually gradually vest the remaining options each month or quarter. You may choose any combination of the three options if you so desire. 2(e) ute books, stock books orate organization of Seller; organization of Seller; set forth on Schedule 1. He must be given at least 15 days to decide for exercising his option. I am probably not in the majority of VCs on this topic. Topics: Start-up options, Setting up your business, Business structures, Social enterprises in Queensland, Registering a business name Licensing, registrations and legal obligations Topics: Legal obligations for business , Australian Business Licence and Information Service (ABLIS) , Getting the right licences and registrations , Codes of. As a startup that creates review and approval software for filmmakers, we work closely with film productions such as yours. Law firms post them. Use this agreement to grant a share option in your company to a third party. It is a simple and fast agreement, a figurative 'papered handshake' It favours the company much like a convertible loan can. By downloading content from iStock, you accept the terms of this agreement. Create a Stock Option Plan for key employees and directors of a Canadian company with this template Employee and Director Stock Option Plan. " Article III Voluntary Lifetime Transfer of Shares. 409a valuation for startup and new businesses is especially important as deferred compensation play a very important role in employee pay through frequent use of stock options. Stock Option Advantages. This formality is important to legally record the board's approval. The Preferred Stock Investment Agreement, or Stock Purchase Agreement, is a lengthy document that is binding (once signed) on the relationship between the investor(s) and company. Try Shopify free for 14 days!. It gives you the right to the monetary equivalent of the appreciation in the value of a specified number of shares over a specified period of time. Competition Advocate : An individual designated by the head of each agency to serve as an advocate for competition for the agency and each procuring activity in accordance with Section 20 of the Office. PRIMARY DOCUMENTATION The distribution agreement (also referred to as the separation agreement) sets forth the basic terms and conditions of the spin-off, including: The assets and liabilities to be allocated to SpinCo. Automatically build, e-sign, and deliver contracts within a secure signNow workflow. An option to purchase agreement is a contract between a buyer and seller, which gives the buyer the option, but not the obligation, to purchase some sort of property at an agreed upon price prior to the maturity date of the option. JotForm offers the largest selection of free form templates available online. The key to future economic prosperity and growth is a strong Indiana business community. GILEAD SCIENCES, INC. InstaForex StartUp Bonus is a no deposit bonus. 1 Partners to the Agreement [Company Name] [Company Type], a Company in planned to be registered in [Country, City] (hereinafter referred also as the Company) for [Summary of what company does] (hereinafter. The founders should replace this with a traditional structure if the company obtains significant outside funding, customers, revenue, or takes on other obligations. Doing so allows the company to keep share ownership in the company to a limited group of shareholders. For an existing NYSE Arca issuer to list additional securities, it must receive NYSE Arca authorization and file a Supplemental Listing Application ("SLAP"). Stock Certificate. FREE 16+ Printable Lease Agreement Templates in PDF | MS Word | Pages Lease Agreement are binding documents signed by two parties in which the lessor allows the lessee to use his property for a fixed period of time in exchange for some payment. Employment Contract Stock Options Clause Library This Employment Agreement Stock Options clause library is provided below as a free resource to attorneys and business professionals to customize their legal contracts with specific language found in these clauses. This document was authored by Y Combinator lawyer Carolynn Levy and open sourced. When you're starting a new business, there are plenty of things to consider. Proposal software, legal contract software, proposal templates, sample business proposals. Stock Options. Penny stock trading involves substantial risk, so always research every recommendation before trading, consult with licensed professionals before trading, and always trade with caution. If the stock rises, you make money. This post presents our current recommendation for how tech startups should structure employee stock incentive programs. If you own a company and have promised to sell a certain amount of stocks to an investor at a specific price, you should nail down the details with a Subscription Agreement. This template includes space for the price of the stocks, the date of the original sale, when the company may repurchase the stock, and other important factors. 2(e) ute books, stock books orate organization of Seller; organization of Seller; set forth on Schedule 1. In return for investing $29,500 in the company's capital, the new investor would receive Start-up Sample Business. You must do this by 1/1/2029. A sample Stock Assignment Separate from Certificate is available, at no charge, on this blog’s Downloads page. Additionally, Start-up, sweat equity, New York. Firstly, you'll need to sign an agreement with your team member where you promise them share options, which includes details of vesting provisions. This agreement describes their understandings and commitments to this collaborative effort. When it comes to equity terms, there are only 3 things to understand: vesting, cliffs, and acceleration. At the end of the lease (generally this is a one to three year agreement) the lessee will have the option to purchase the property at a predetermined amount. (s) “Option” means an Award granted under Section 7and includes both Incentive Stock Options and NonstatutoryStock Options. Back-end loaded stock vesting. Choose from thousands of free Microsoft Office templates for every event or occasion. SeedLegals is the one-stop platform for all the legals you need to start, raise and grow your company. This article looks at stock plan details in the Form S-1 SEC registration statements of IPO companies to explain how stock options and restricted stock grants at private companies may be different and more complex than the standard types of grants used by public companies. But, as the rumors go, no other employee made more than $50,000. This a rticle. North, Central and South America. Carefully consider this option as a breakdown in business relationships may affect your personal relationships. (s) “Option” means an Award granted under Section 7and includes both Incentive Stock Options and NonstatutoryStock Options. An option agreement grants to the holder of the options a right to purchase stock at a set price sometime in the future. stock option pool is a prerequisite to closing a deal –In an industry where options are ubiquitous, startups are compelled to offer options packages to compete for top talent with other venture-backed companies –When operating budgets are tight, competitive compensation packages may not be possible; options can be used to incentivize. For them, stock options represent an agreement between employees and management. As part of this effort, Yale is pleased to offer a pre-negotiated Startup License. resurgence of stock option repricing and exchange programs has occurred. With stock options, taxes come into play at the time you exercise your options. Stock grants mean you own the stock outright and can sell it after it vests and receive 100 percent of the sales price, he says. Intrinio provides bulk CSV data downloads for Historical Stock Prices, Company Financials and More. Startup Inc. Ideally, an option agreement should include two separate documents, both the option itself and the purchase agreement to be used if the option is exercised. A real estate purchase agreement template is a convenient resource for use when making the legal purchase of a property. ISOs may only be exercised within 3 months of termination of employment and, in the case of disability, no later than 12 months after termination of employment. It is often established between the two sides within a specific period of time. John and Lisa Walker, husband and wife, would receive 3,600 shares, at $100 par value, or 35. Option pools can also be formed by Restricted Stock Units, but whichever one you use, they are generally still called ‘Option Pools’. Dear Future Indiana Entrepreneur: Thank you for your interest in operating a business in Indiana. Equity Incentive Plan / Option Pool – The shares allocated and set aside for grants to employees and consultants. It's the governing document that contains a lot of details regarding the stock options that the startup plans to issue to employees. Meet the authors Joe R. stock options issued to employees seldom have a FMV that meets the definition of “readily ascertainable. in MS Word. The NYSE Arca listing application, listing agreement and SLAP can be submitted electronically through Listing Manager , the NYSE's fully integrated web application. STOCK OPTION AGREEMENT. Shareholder Agreements. Prepare the Stock Option Agreement & Stock Option Grant Step 5. Sam Altman's piece on employee equity covers this topic as well, proposing perspectives on alternative vesting schedules. This a rticle. The vesting schedule -- the plan that outlines when you get the stock -- is also important, Ide adds. 5% per share of the closing price of the Company’s stock quoted on a major. If you are a founder seeking funding, expect to create a vesting schedule for you and your team (if you have a team and an entity, you should already have. An option to purchase agreement is a contract between a buyer and seller, which gives the buyer the option, but not the obligation, to purchase some sort of property at an agreed upon price prior to the maturity date of the option. Research Policies HHMI's scientific research is governed by policies that address the conduct of research, the sharing of data and materials, collaborations, and intellectual property, setting high standards for scientific and ethical conduct. Private Stock Placement. Stock and stock options offer the chance to benefit financially from the growth of a company you advise without having to invest very much, if any, of your. For purposes of this agreement, “Securities and Other Property” shall include, but not be limited to, money, securities, securities entitlements, financial assets, investment property, financial instruments and commodities of every kind and nature and all contracts and options relating thereto, whether for present or future delivery. Loans between friends or family members may typically be settled with a single repayment at a future specified date. and Stephen J. Stock options are a type of benefit that allows you, as an employee, to buy company stock at a certain price. warrants, RSAs, RSUs, etc. Employee Stock Options Template. Can be used for presentation slide. View examples of current Shopify online stores with unique ecommerce template designs. 6 billion deal to buy Swiss payments company Global Blue. The restricted stock vests into common stock at the same schedule as your options vest. The following form is a compromise: it incorporates both option and purchase terms in one document, but contemplates the signing of a full purchase agreement if the option is exercised. This post presents our current recommendation for how tech startups should structure employee stock incentive programs. Each Partner shares a portion of the partnership's profits and losses and each Partner is personally liable for the debt and obligations of the Partnership. Equity is often the most confusing and intriguing part of a compensation package at a startup. This template and the content in this article provide general information only, so we would also advise you to consult your attorney about your specific situation. SeedLegals is the one-stop platform for all the legals you need to start, raise and grow your company. By ensuring your startup stays afloat will provide a certain level of security among your investors. Stock option agreements specify the individual options grants, vesting schedules, and other employee-specific information. InstaForex StartUp Bonus is a no deposit bonus. Google and ye shall find. Often, these companies can initially pay rather low salaries only. The strike price of an option is the specified share price at which the shares of stock will be bought or sold if the buyer of an option, or the holder, exercises his option. 8+ Equity Investment Agreement Examples - PDF Equity, loans, and convertible debt—these are the most common types of investment funding that are usually undertaken by most business companies. grants its employee, Emma, an option to purchase 400 shares of company stock, subject to a four year vesting schedule with a one year cliff. The tax status of the employer, the intended tax treatment of the executive and the tax effects to the employer play a central role in selecting from among. If so, then require that the changes be written and signed by both parties. Other emerging growth and startup technology companies may be considering similar adjustments to their stock options. Exercise Price. The real estate purchase option allow the buyer know about the rights of property purchase. Employee stock options usually have a one year cliff. If the option is not exercised, the amount paid for the option is not refundable. FormSwift offers many free legal documents for personal use. Whether stated explicitly in the agreement or not, both the employee and the employer have the duty of mutual confidence and trust, and to make only lawful and reasonable demands on each other. May 19, 2020. Terms of the License Agreement. From the permits, contracts, and other types of documents, there's a lot for you to do. It allows them to minimize the cash they have to outlay when there isn't a lot of cash to go around. Print or download your form for immediate use. Employee Stock Option Plans (ESOPs) motivate startup employees by aligning their incentives with the growth of the business. Stock and stock options offer the chance to benefit financially from the growth of a company you advise without having to invest very much, if any, of your. Often, these companies can initially pay rather low salaries only. received on November 1st, 2009, transaction #456533. The process ensures consistency across all contracts and is many times more efficient than traditional methods. " It gives employees the chance to buy stock, usually through payroll deductions over a 3- to 27-month "offering period. startup, so as to minimize the likelihood of debilitating surprises as the company continues to evolve. Options give you the right to buy shares of a stock at a specific price within a certain time period. The issued and outstanding common stock would be $101,500. business template stocks legal advisor. If stock options are part of your compensation package — or could be at a new job — you, as an investor, should ask some questions about the company's option plan so you know what's what going in. Shareholders’ Agreement of [Company Name] [Company name] [Document ID] [company URL] In this spirit, the Partners agree not to sell The Company’s shares to outsiders when share disposal restriction provisions of this Shareholders’ Agreement (hereinafter referred also as Agreement) restrict the selling of the shares. This sample agreement contemplates a joint venture between two entities that wish to set up a limited liability company in order to research and develop a new product. Automatically build, e-sign, and deliver contracts within a secure signNow workflow. The restricted stock vests into common stock at the same schedule as your options vest. Screenshots from the Startup Financial Model Software I was able to raise the venture capital I needed for my startup based in part on the credibility this model provided. Customise it to suit — this could mean adding in extra sections, or cutting out ones that you don't need. ESOPs; in India, for example, employee stock option plans are called "ESOPs," but the U. Option Agreement [Amendment] - Snap Inc. How a Finder’s Agreement Could Ruin Your Startup’s Chances of Getting Funded Finding money is hard, so it’s common for a startup to use a “finder” to locate potential investors or partners. AllBusiness. By going through the agreements, you get to know how to market about the product or service that the organization caters to. 75/option) As in every complex issue, there are always assumptions to be made. Usually, no cash outlay is necessary until the stock or the option vests, which is a significant advantage for growing firms. EMPLOYMENT AGREEMENT. ISOs may only be exercised within 3 months of termination of employment and, in the case of disability, no later than 12 months after termination of employment. However,. How to give out share options ‍There are 3 parts to giving out share options. 1 Grant of Option. Ownership Percentages. Your vesting schedule. Stock Options. Each employee has been awarded stock options, but the founders currently do not have any stock options. Purpose of the Agreement X, Y, and Z (names of the organizations which will participate in the collaboration) have agreed to work together to _____ (primary purpose of the collaboration). And then there are thirteen clauses which serve as the substantial content of this employment agreement. Business franchising is one of the safest and most risk-free ways to start up and run a successful business. This article looks at stock plan details in the Form S-1 SEC registration statements of IPO companies to explain how stock options and restricted stock grants at private companies may be different and more complex than the standard types of grants used by public companies. Andy Rachleff, who founded Wealthfront, outlines the benefits and considerations of vesting stock options. We have also moved all of the variable definitions to the front of the document so that all of the changes in the document are in one easy to find location instead of scattered. This template and the content in this article provide general information only, so we would also advise you to consult your attorney about your specific situation. Trusted by 20,000+ UK startups and investors. Consulting Agreement--Independent Contractor for BioTech Startup (Short Term, High Level Executive) Employee Compensation: Commission Only Salesman Incentive Stock Option Agreement (Alternate Version). Assume on 1/1/2019 you are issued employee stock options that provide you the right to buy 1,000 shares of Widget at a price of $10. If you are a founder seeking funding, expect to create a vesting schedule for you and your team (if you have a team and an entity, you should already have. This Agreement shall be subject to the terms of the Plan as amended except that the phantom stock shares that are the subject of this Agreement may not in any way be restricted or limited by any Plan amendment or termination approved after the date of the award without the Employee’s written consent. Stock grants in privately held companies can be structured in surprisingly diverse ways, many of which are not commonly known. The shareholders must be informed of the number of shares he has the option to buy. The Definitive Agreements are expected to include, without limitation: (1) a purchase and sale agreement to govern Acquirer’s acquisition of the capital stock, (2) a promissory note, (3) a consulting agreement, (4) a non-compete agreement, and (5) any other agreements necessary or desirable in connection with any of the foregoing arrangements. These steps must be followed in the very own orders of non disclosure agreement form in order to avoid any mistakes. Restricted stock, on the other hand, is stock granted to you with restrictions (vesting being one of the most common). The Startup Founder Equity Agreement Cheat Sheet. Stock options can bring greater value to the employee. This template can be used to grant advisors stock options. The employee will get a windfall if and when the company's stock price exceeds that price. For them, stock options represent an agreement between employees and management. - Buy this stock vector and explore similar vectors at Adobe Stock. Instead, the employee has the opportunity to buy shares later, but at a previously set price. Types of startup stock options. A stock purchase agreement is the agreement that two parties (the company or shareholders and buyers) sign when shares of a company are being bought or sold. Time and attendance tracker and labor costing to maximize the efficiency of your workforce. and set fair financial remuneration for the work and passion that is required in building a startup. Founders' Stock Purchase Documents. Startup law blog about corporate financing (angel investment and venture capital financing), corporate formation, intellectual property, licensing transactions, mergers & acquisitions and incorporation. 2 A Model Founders' Agreement. After the cliff, you usually gradually vest the remaining options each month or quarter. Select your area below to see the agreement forms available. The third party may be an individual, or a corporate body. Other emerging growth and startup technology companies may be considering similar adjustments to their stock options. This Agreement shall be subject to the terms of the Plan as amended except that the phantom stock shares that are the subject of this Agreement may not in any way be restricted or limited by any Plan amendment or termination approved after the date of the award without the Employee’s written consent. Template employee share option plan (ESOP) Confidential (or as amended by agreement of the Board). Only applicable if the LLC decides to produce them. Grant the Option to the Recipient and Execute the Agreements. Rather, when a startup first forms, the founders grant themselves Restricted Stock Awards (RSAs) instead of common stock options. Corporations file this form for each transfer of stock to any person pursuant to that person's exercise of an incentive stock option described in section 422(b). Offer to Sell Stock. Benefits of the Tax Receivable Agreement Because the historic partners sell partnership interests to PubCo (rather than stock, as in a traditional IPO structure), PubCo receives a “step-up” in the tax basis of its assets This tax basis step-up is allocated to PubCo’s share of the historic. Go to Forms. Let's use an example to highlight how options work. Free templates Explore thousands of beautiful free templates. Overview 2. “When companies cannot offer much by way of salary, they try to entice the employee with stock options” says Rizzo. After that, you won’t have to pay any royalties that are based on plays or the number of video projects. Pick the option that works best for your startup - a one-time fee for our Company Lifetime Package, or pay each time you use a product. Many advisors don't realize that most startup option plans require that vested options be exercised within 3 months of termination of the advisor agreement or else they expire. The shareholder's basis in the stock is: the value of the services rendered plus. Stock Certificate. Here are the key definitions and details: …. Available in all states. EMPLOYMENT AGREEMENT with STOCK OPTIONS. Sample Material Transfer Agreement Questionnaire. We have worked on it at length to consider financial, tax, and legal implications and make an unbiased and fair contract that will reward the employee, protect the company, and set fair financial remuneration for the work and passion that is required in building a startup. While your relationship with your co-founder may be peachy right now, there is a possibility it could turn sour down the road. Most companies still issue options to employees, specifically incentive stock options. Free Fillable PDF Forms Download Fillable PDF Forms, Documents and Agreements For Business and Legal Use. Many advisors don’t realize that most startup option plans require that vested options be exercised within 3 months of termination of the advisor agreement or else they expire. STOCK OPTION AGREEMENT. Which Prezi plan is right for you? Compare plans to find the features and pricing options you need to be a better presenter. You may see a few sentences noting that (1) the company will recommend to the board that the grant be made at the first market value on the date of grant; (2) the option will vest monthly over four years with a one-year cliff; and (3) the option will be governed by the company's. ) * How much of the company they will own upon closing: valuation, price per share, that ki. The option is triggered on events specified by you in the agreement, such as when a performance goal or target is achieved. Ownership Percentages. Right of first refusal: The plan (and related Stock Option Agreement) can. The MarketWatch News Department was not involved in the creation of this content. John and Lisa Walker, husband and wife, would receive 3,600 shares, at $100 par value, or 35. Private Stock Placement. Sponsorship Agreements (19) Stock Appreciation Rights Agreements (11) Stock Grant Agreement (19) Stock Option Agreement (656) Stock Option Plan (291) Stock Plan (127) Stock Purchase Agreement (795) Stock Transfer Agreement (16) Subordination Agreement (12) Subscription Agreement (26) Succession Agreement (6) Supply Agreement (256). Purpose of the Agreement X, Y, and Z (names of the organizations which will participate in the collaboration) have agreed to work together to _____ (primary purpose of the collaboration). How Employee Stock Options Work In Startup Companies. Notice of Stock Option Grant, and Option Agreement start-up businesses often hire. Your stock option agreement. Please see this FAQ about her services or contact her at (650) 326-3412 or by email. The startup phase begins when the entrepreneur starts spending money on the business and ends when revenue is 1 st received. Jump start your school, work, or family project and save time with a professionally designed Word, Excel, PowerPoint template that’s a perfect fit. not exercise its exclusive right to purchase the Premises granted by the Option during the Option Term, Seller shall be entitled to retain the Option Fee, and this agreement shall become absolutely null and void and neither party hereto shall have any other liability, obligation or duty herein under or pursuant to this Agreement. The rules include a template letter of grant to send to each employee, director or contractor who is to be offered options in the company. Screenshots from the Startup Financial Model Software I was able to raise the venture capital I needed for my startup based in part on the credibility this model provided. When you're starting a new business, there are plenty of things to consider. Google and ye shall find. Vesting of shares The vast majority of venture investors require that all shares and options held by the founders (and other employees) of the startup be subject to vesting. A copy of the Buy-Sell Agreement is available for inspection during normal business hours at the principal office of the Corporation. Startup Forms Library Choose from six categories to download the key legal forms that you will need to start and grow your company. Best Practice Guidance for Angel Groups – Deal Structure and Negotiation Ann-Marie Koss, New York University July, 2007 Structuring the deal is a key aspect of completing an angel round of financing. Each Partner shares a portion of the partnership's profits and losses and each Partner is personally liable for the debt and obligations of the Partnership. The term property does not include services rendered or to be rendered to the issuing corporation. Topics: Start-up options, Setting up your business, Business structures, Social enterprises in Queensland, Registering a business name Licensing, registrations and legal obligations Topics: Legal obligations for business , Australian Business Licence and Information Service (ABLIS) , Getting the right licences and registrations , Codes of. A term sheet must be negotiated. At the end of the template, there is a space for the signatures of both employee and employer. The recommendations listed in the Newsletter are only for investment ideas and are not solicitations to purchase equities. Stock options or restricted stock? For early-stage startups, granting stock options is usually the way to go. Read about HHMI's research philosophy The Howard Hughes Medical Institute is dedicated to promoting knowledge and advancing human health through. A term sheet is usually a non-binding agreement outlining the basic terms and conditions of the investment. Put Option: A put option is an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time. The shareholders must be informed of the number of shares he has the option to buy. At SeedLegals, all our employment and advisor agreements contain sections for you to detail share options and vesting. Just fill-in-the blanks & print!. (2017) Letter Amendment to Performance Stock Option - Yahoo!. ) In truth, the raw number is a way that companies play on employees’ naiveté. Incentive Stock Options Checklistby Practical Law Employee Benefits & Executive Compensation Related Content Maintained • USA (National/Federal)A Checklist outlining the requirements that must be satisfied for a stock option to qualify as an incentive stock option (ISO) under Section 422 of the Internal Revenue Code and receive more favorable employee tax treatment than non-qualified stock. Exercise Price. JotForm offers the largest selection of free form templates available online. Termination Date set forth in the Lease Agreement or the option expiration date set forth in paragraph 1 herein above, whichever is later in time. For purposes of this agreement, “Securities and Other Property” shall include, but not be limited to, money, securities, securities entitlements, financial assets, investment property, financial instruments and commodities of every kind and nature and all contracts and options relating thereto, whether for present or future delivery. The founders should replace this with a traditional structure if the company obtains significant outside funding, customers, revenue, or takes on other obligations. STOCK OPTION AGREEMENT. 00 a share and you decide to exercise your employee stock options:. The size and terms of these grants can be different from those made to employees and should be considered in your negotiations (see a. While your relationship with your co-founder may be peachy right now, there is a possibility it could turn sour down the road. The Agreement and the Notes, and the stock issuable upon conversion of the Notes have been duly authorized by the Board of Directors of. Template for a service agreement with equity? Mitali Saxena. Add to cart. (t) “Option Agreement” means a written agreement between the Company and a Holder with respect to an Option, including the accompanying “Notice of Grant of Stock Option. and Jonathan C. This guide will look to explain 1) what vesting is all about and 2) how a startup can set up a successful vesting scheme. Read about HHMI's research philosophy The Howard Hughes Medical Institute is dedicated to promoting knowledge and advancing human health through. You can use this worksheet to outline expenses, create a tentative budget, and compare actual costs as they accrue. 40), representing one hundred ten percent (110%) of the moving average closing bid price for such shares for the 30 days immediately preceding. Proposal software, legal contract software, proposal templates, sample business proposals. For example, a compensatory option is usually awarded under an equity incentive plan, and the option agreement is governed by the plan; the compensatory option will usually have vesting, and repurchase rights on termination of service. Adopt the Stock Option Plan Step 4. A severance agreement template should include details like how much pay the employee will be entitled to after termination, when benefits will be discontinued, etc. The rebuilt chevy. In the UK on the other hand, you just sort of write it into your shareholder’s agreement. A stock option gives the holder the ability to buy stock at an agreed upon price at a later date. Stock or option grants also allow companies to defer some of the compensation. Please see this FAQ about her services or contact her at (650) 326-3412 or by email. Rental Agreement The Eviction Process from Beginning to End 6 Most Common Ways to Use a Cease and Desist Letter What You Need to Know about Using Affidavits 5 Important Facts about Quit Claim Deeds. Stock options are, as the name implies, an option to buy or sell company shares at a discounted or stated fixed price. This option agreement may be used when an existing shareholder is granted a right (but not an obligation) to sell shares for a specific period and at a specific price or at a price to be calculated in accordance with a pre-agreed formula. Restricted Stock Purchase Agreement; This agreement outlines how much stock, the vesting schedule, and any restrictions. Put Option: A put option is an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time. Notices – All communication made to the members shall be sent to the address printed in the operating agreement. Riggs This post is the fifteenth in a series giving practical advice to startups with respect to understanding and negotiating a venture capital term sheet. (Note that the Advisor Agreement is not a substitute for the Stock Option Agreement or Stock Grant. If you give your employee a Stock Option, you are basically giving them the promise of purchasing company stocks from you with a certain price. The normal framework for the value pricing proposal should encompass this basic sequence: Situation Appraisal: Summarize and reconfirm the conceptual agreement con-cerning the condition to be improved and the desired state. The amount due will include any interest charged. Except for. May 19, 2015 Shareworks Marketing. Intrinio provides bulk CSV data downloads for Historical Stock Prices, Company Financials and More. 00 a share and you decide to exercise your employee stock options:. 75/option) As in every complex issue, there are always assumptions to be made. Back-end loaded stock vesting. A stock option gives an employee the ability to buy shares of company stock at a certain price, within a certain period of time. This payment is for the 30 computer workstations Home Computing Inc. Stock Option Grant Notice and Option Agreement - Snap Inc. It also lays out the various details concerning start-up investments, the division of profits, and the possibility of the partnership dissolving. Immediately following formation, a startup typically has a simple capitalization structure with no options, warrants or other securities that can be converted into stock. The new total is the amount you will need to get financed for your startup. The benefit to the employee is that, if the employee holds the stock at least 2 years from the date the option was issued and 1 year from the date of exercising the option, the employee will receive capital gains treatment on the spread between the exercise. Videos of our Events. The price is known as the grant price or strike price, and it's typically based on a discounted version of the price of the stock at the time of hire. In their 1973 paper, The Pricing of Options and Corporate Liabilities, Fischer Black and Myron Scholes published an option valuation formula that today is known as the Black-Scholes model. In practice a SAFE enables a startup company and an investor to accomplish the same general goal as a convertible note, though a SAFE is not a debt instrument. Jump start your school, work, or family project and save time with a professionally designed Word, Excel, PowerPoint template that’s a perfect fit. Fill in each individual stock option grant. Whether stated explicitly in the agreement or not, both the employee and the employer have the duty of mutual confidence and trust, and to make only lawful and reasonable demands on each other. This Shareholders Agreement Template includes the following provisions: 1. These elements serve as a checklist — and a necessary one, because the early-stage company often can be a business case study for high attrition rates among product candidates, huge technical risk, and very long product-development time lines of 8 to 12 years. and Mark Nelson (May 11, 2017); Stock Option Grant Notice and Option Agreement - Snap Inc. In either case, ownership confers the right to vote and the right to share in profits. For this post, I'd like to focus on the five highlighted cells in the image above. Selling stock to employees can be used in conjunction with an MBO/LMBO. An Entrepreneur's Guide to Starting A Business in Indiana. Start with our checklist templates,or create your own. Optionee is to render valuable services to the Corporation (or a Related Entity), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation's grant of an option to Optionee. Corporate Stock Certificate – Free Template You can use this free corporate stock certificate template to document a shareholder’s ownership of stock in your corporation. Stock Options. Create a Stock Option Plan for key employees and directors of a Canadian company with this template Employee and Director Stock Option Plan. Sample Option to License Agreement. By this contract, {Payer} agrees to make payments to {Payee}, hereafter known as "Lender," by the following schedule in exchange for {Product/services rendered}. The restricted stock vests into common stock at the same schedule as your options vest. At the end of the lease (generally this is a one to three year agreement) the lessee will have the option to purchase the property at a predetermined amount. com - one of the largest and most well-organized web template shops, with the best products on the net! Choose the template for your website in just 3 clicks, use our search option, or just browse our extensive collection of premium templates and themes. Sample Material Transfer Agreement Questionnaire. Every new Client of the Company has the right to get this bonus. [25]% of the option shares will vest on the [12]-month anniversary of your vesting commencement date and [1/48th] of the total option shares will vest in monthly installments thereafter during continuous service, as described in the applicable stock option agreement. This is very broad question so I will answer in general terms: * How the investment will close (conditions, procedure, other investors, who pays what, etc. Automatically build, e-sign, and deliver contracts within a secure signNow workflow. This is done to associate the rewards of equity ownership with the time and effort put into creating value for the company. EMPLOYMENT AGREEMENT. The Canadian Simple Agreement for Future Equity (SAFE) is modelled after the Y Combinator SAFE. raditor is new It has a 1975 camero front clip on it. Stock options aren’t actual shares of stock—they’re the right to buy a set number of company shares at a fixed price, usually called a grant price, strike price, or exercise. The recommendations listed in the Newsletter are only for investment ideas and are not solicitations to purchase equities. grants its employee, Emma, an option to purchase 400 shares of company stock, subject to a four year vesting schedule with a one year cliff. You must do this by 1/1/2029. We know how busy you are. They can advise you more on what fits. Here are our free and awesome bootstrap themes and website templates best suitable for creating a professional business websites. 402 big block motor and 4 speed saganal trans. Sample includes CEO compensation of companies listed in the S&P 500 Index. How Employee Stock Options Work In Startup Companies. The Definitive Agreements are expected to include, without limitation: (1) a purchase and sale agreement to govern Acquirer’s acquisition of the capital stock, (2) a promissory note, (3) a consulting agreement, (4) a non-compete agreement, and (5) any other agreements necessary or desirable in connection with any of the foregoing arrangements. The stock buyback or re-purchase agreement grants the company an option to purchase the stock back when the founder leaves at the price at which it was originally purchased by the founder. and William L. Proceed with a detailed Lease Agreement which spells out each party's responsibilities. To sign up for a Lightspeed Trader demo, visit our site today. The Shareholders Agreement - A Sample Agreement (Note - this is just a sample agreement set in the legal context of the United States to serve as food for thought. We encourage you to seek legal advice. Each Partner shares a portion of the partnership's profits and losses and each Partner is personally liable for the debt and obligations of the Partnership. All the terms and provisions of the Buy-Sell Agreement are incorporated by this reference and made a part of this certificate. Optionee is to render valuable services to the Corporation (or a Related Entity), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation's grant of an option to Optionee. [25]% of the option shares will vest on the [12]-month anniversary of your vesting commencement date and [1/48th] of the total option shares will vest in monthly installments thereafter during continuous service, as described in the applicable stock option agreement. We manage the largest public pension fund in the US. Stock Purchase Agreement. startup founders and a lawyer about employee equity. - Legal Services for Individuals. Available in all states. Stock Option Builder also includes a handy spreadsheet template in Excel for managing and tracking your executive and employee stock ownership and options — just fill in the variables and print. (2014) Share Unit Grant Agreement - Valeant Pharmaceuticals International Inc. Employer and Employee further agree that in consideration for the above agreements and promises, Employer will pay Employee as follows: [terms of severance. After you've been issued the stock and you sell your shares, you'll either incur a capital gain or a capital loss (cost basis equal to the value of the shares at vesting), which will be treated like any other stock sale. Complete guide to survey questions with survey examples and sample survey questions that include question types, answer types and good questions for a survey like the Dichotomous Survey Question, Multiple Choice Question, Rank Order Scaling Question, Rating Scale Question, Semantic Differential Scale, Stapel Scale Question, Constant Sum Survey Questions and much more!. However, when you buy sell agreement templates, you get to know about the details of the agreement. Real Finance Guy Find the right formula for financial success. Although vesting schedules can be infinitely flexible in theory, in practice they don’t vary that much. Stock option agreements are a tricky business for a number of reasons: 1. constitute Incentive Stock Options. Director Compensation. referred as a stockholders' agreement) is THE key tool to use to get your startup team to commit to the shared venture as co-founders - to start making your startup more than just an idea or a dream. Founders Stock Awards • Purpose, terms and 83(b) election 4. Restrict the Transfer of Shares. It is structured after the presentation model also available on our site: Startup employee stock options plans: Overview and best practices.
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