Products tagged with 'sweat equity contract'

Overview of Document

This downloadable Sweat Equity Agreement template is designed for Ontario businesses seeking to engage a third party who will provide services in exchange for company shares.

Service Arrangement with Independent Contractor

Under this agreement, an independent contractor is offered the opportunity to acquire shares in the company in return for the performance of specified services. No monetary fee will be paid for these services; however, the contractor will be reimbursed for any expenses that are pre-approved by the company.

Share Option and Vesting Conditions

The contractor receives an option to purchase company shares. This share option will vest only after all contracted services have been fully performed, provided the contractor remains in compliance with the terms of the agreement.

Shareholder Agreement Participation

Upon exercising the share option and purchasing the shares, the contractor agrees to become a party to the company’s shareholder agreement, thereby accepting the rights and obligations outlined therein.

Format and Jurisdiction

The template is fully editable to suit your business requirements and is intended exclusively for use in the Province of Ontario, Canada. One of our top 5 bestsellers!