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Cofounders Agreement
Cofounders Agreement
Step
1
of
27
3%
Please insert the date of the Co-founders Agreement in Day/Month/Year format.
(Required)
Day
Month
Year
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What is the name of the first co-founder that will be entering into this Co-founders Agreement? (Cofounder 1)
(Required)
This should be written as per the individual’s name on their identification documents (e.g. the exact same name as recorded on their Saudi identification card, passport or Iqama etc.)
Signature
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Signature locked. Reset to sign again
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What nationality is Co-founder 1?
(Required)
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What type of identification will Co-founder 1 be using to sign this Co-founders Agreement with?
(Required)
saudi national identification card
passport
Iqama
Other
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What is identification number recorded on Co-founder 1’s identification document?
(Required)
If this individual is signing under their Saudi national identification card, then this is the Saudi identification card number, if this individual is signing under a passport, then this is the passport number, if the individual is signing under their Iqama, then this is their Iqama number etc.
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What is the issuance date of the identification document being used by Co-founder 1?
(Required)
Day
Month
Year
If this individual is signing under their Saudi national identification card, then this is the date of issuance of the card, if this individual is signing under a passport, then this is the issuance date of the passport, if the individual is signing under their Iqama, then this is the issuance date of the Iqama etc.
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Please insert an abbreviation for Co-founder 1.
(Required)
e.g. if the name of Co-founder 1 is Mohammed Al-Otaibi, this could be abbreviated to just his first name “Mohammed” or “M. Otaibi” or any other abbreviation you would prefer. If there are co-founders with the same first name (e.g. is one co-founder is named Mohammed Al-Otaibi and another co-founder is named Mohammed Al-Zahrani, then we suggest that you use abbreviations that can be distinguished between co-founders (e.g. in the above case both co-founders have the first name “Mohammed” so we suggest that you do not use this name as an abbreviation”.
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What is the name of the second co-founder that will be entering into this Co-founders Agreement? (Cofounder 2)
(Required)
This should be written as per the individual’s name on their identification documents (e.g. the exact same name as recorded on their Saudi identification card, passport or Iqama etc.)
Signature
Reset signature
Signature locked. Reset to sign again
PDF Preview
What nationality is Co-founder 2?
(Required)
PDF Preview
What type of identification will Co-founder 2 be signing this Co-founders Agreement with?
(Required)
saudi national identification card
passport
Iqama
Other
PDF Preview
What is identification number recorded on Co-founder 2’s identification document?
(Required)
If this individual is signing under their Saudi national identification card, then this is the Saudi identification card number, if this individual is signing under a passport, then this is the passport number, if the individual is signing under their Iqama, then this is their Iqama number etc.
PDF Preview
What is the issuance date of the identification document being used by Co-founder 2?
(Required)
Day
Month
Year
If this individual is signing under their Saudi national identification card, then this is the date of issuance of the card, if this individual is signing under a passport, then this is the issuance date of the passport, if the individual is signing under their Iqama, then this is the issuance date of the Iqama etc.
PDF Preview
Please insert an abbreviation for Co-founder 2.
(Required)
e.g. if the name of Co-founder 2 is Mohammed Al-Otaibi, this could be abbreviated to just his first name “Mohammed” or “M. Otaibi” or any other abbreviation you would prefer. If there are co-founders with the same first name (e.g. is one co-founder is named Mohammed Al-Otaibi and another co-founder is named Mohammed Al-Zahrani, then we suggest that you use abbreviations that can be distinguished between co-founders (e.g. in the above case both co-founders have the first name “Mohammed” so we suggest that you do not use this name as an abbreviation”.
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What will be the total share capital of the new company when it is established?
(Required)
Do not reference Saudi Riyals or any other currency as this automatically included as Saudi Riyals in the Co-founders Agreement.
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How much will each share in the new company be worth?
(Required)
Do not reference Saudi Riyals or any other currency as this is automatically included as Saudi Riyals in the Co-founders Agreement.
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How many shares will the new company have in total?
(Required)
e.g. if the total share capital of the new company is SAR 500,000 and each share is worth SAR 1,000, then there would be 500 shares of the company in total.
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How many shares will Co-founder 1 have when the new company is established?
(Required)
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What is the total value of shares for Co-founder 1 when the new company is established?
(Required)
Do not include any reference to Saudi Riyals as this is already included in the Co-founders Agreement. e.g. if co-founder 1 will have 250 shares, each with a value of SAR 1,000 then the answer would be 250,000.
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Please insert the percentage of ownership that Co-founder 1 will have when the new company is established.
(Required)
Do not include any reference to percent or % as this is already included in the Co-founders Agreement.
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How many shares will Co-founder 2 have when the new company is established?
(Required)
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What is the total value of shares for Co-founder 2 when the new company is established?
(Required)
Do not include any reference to Saudi Riyals as this is already included in the Co-founders Agreement. e.g. if co-founder 2 will have 250 shares, each with a value of SAR 1,000 then the answer would be 250,000.
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Please insert the percentage of ownership that Co-founder 2 will have when the new company is established.
(Required)
Do not include any reference to percent or % as this is already included in the Co-founders Agreement.
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In the event in which the Co-founders Agreement is terminated, after how many months from the date of termination should the co-founders be restricted from entering any line of business that would compete with the proposed new company’s lines of business?
(Required)
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Please insert the final date upon which the co-founders desire to have the new company established by?
(Required)
Day
Month
Year
Your answer here will be set in the Co-founders Agreement as the date upon which the co-founders agreement will terminate by if the new company is not established. If you are unsure of the final date please insert a date in the distant future. Please note that the co-founders can agree in writing to amend the date mutually at a later time after the Co-founders Agreement is signed.
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If the co-founders enter into a dispute regarding the Co-founders Agreement, in which city in Saudi Arabia should they attend the court hearing?
(Required)
Riyadh
Jeddah
Al-Khobar
Dammam
Makkah
Medina
Ta'if
Tabuk
Al Kharj
Buraydah
Al Ahsa
Hail
Najran
Sakakah
Qurrayat
Yanbu
Abha
Other
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Please insert any additional terms that you would like added to the Co-founders Agreement.
(Required)
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Co-founders Agreement
(Required)
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