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I've got two other founders and we've finally agreed on some equity terms. I'd like to get something in writing with them in order to put a good foundation under our venture. We recently formed an Oklahoma corporation and have not designated a tax status yet.
I'm looking to have the following documents written up:
Founder Equity Agreement or Stock Purchase Agreement - to establish the rules for each founder as it pertains to vesting, leaving the company, ownership, class of stock, etc.
By Laws or Operating Agreement
The corporation is authorized for 1,000,000 shares of common and 1,000,000 shares of preferred. I'd also like some advice on how to allocate shares to founders and option pool size.
We are still in the early phases of doing business and will not be "operating" for another year at least. We are working on administrative tasks while trying to raise capital. Consequently, these services must be CHEAP!
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