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Equity Split Agreement

Equity Split Agreement Template for Canada

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Key Requirements PROMPT example:

Equity Split Agreement

"I need an Equity Split Agreement for my Canadian technology startup, dividing ownership between three co-founders (40%, 35%, 25%) with a four-year vesting schedule starting March 2025 and including standard drag-along and tag-along rights."

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Document background
An Equity Split Agreement is a crucial document used when establishing or restructuring company ownership in the Canadian business context. This agreement is particularly vital for startups, growing businesses, and companies undergoing ownership transitions. It defines how company equity is divided among founders, investors, and key employees, incorporating specific requirements under Canadian federal and provincial legislation. The document typically includes detailed provisions for share allocation, vesting schedules, transfer restrictions, and shareholder rights, while ensuring compliance with the Canada Business Corporations Act and relevant securities regulations. It's essential for protecting all stakeholders' interests and preventing future disputes over ownership and control.
Suggested Sections

1. Parties: Identification of all parties entering into the agreement, including full legal names and addresses

2. Background: Context of the agreement, including company information and purpose of the equity split

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Equity Allocation: Specification of how shares or ownership interests are divided among the parties

5. Vesting Provisions: Details of vesting schedule, including timing and conditions for share vesting

6. Transfer Restrictions: Limitations and conditions on the transfer of shares

7. Shareholders' Rights: Voting rights, dividend rights, and other shareholder privileges

8. Management and Control: Decision-making authority and corporate governance provisions

9. Representations and Warranties: Statements of fact by the parties about their capacity and authority

10. Confidentiality: Provisions protecting confidential information

11. Termination: Circumstances and procedures for terminating the agreement

12. General Provisions: Standard clauses including governing law, notices, and amendments

Optional Sections

1. Right of First Refusal: Gives existing shareholders priority rights to purchase shares before they can be sold to third parties

2. Tag-Along Rights: Allows minority shareholders to join in the sale of shares by majority shareholders

3. Drag-Along Rights: Enables majority shareholders to force minority shareholders to join in the sale of the company

4. Anti-Dilution Protection: Protects shareholders from equity dilution in future financing rounds

5. Intellectual Property Assignment: Required when shareholders are also contributing IP to the company

6. Non-Competition and Non-Solicitation: Needed when shareholders are involved in company operations

7. Death and Disability Provisions: Procedures for handling shares in case of shareholder death or disability

8. Dispute Resolution: Specific procedures for resolving disputes, including mediation or arbitration

Suggested Schedules

1. Schedule A - Share Capitalization Table: Detailed breakdown of share ownership percentages and classes

2. Schedule B - Vesting Schedule: Detailed timeline and milestones for share vesting

3. Schedule C - Shareholders' Contact Information: Complete contact details for all shareholders

4. Schedule D - Company Valuation: Current company valuation and methodology used

5. Schedule E - Share Transfer Form: Standard form for executing share transfers

6. Appendix 1 - Corporate Resolution: Board resolution approving the equity split arrangement

7. Appendix 2 - Shareholders' Rights by Share Class: Detailed breakdown of rights associated with different share classes

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































Clauses






























Relevant Industries

Technology

Startups

Professional Services

Manufacturing

Retail

Healthcare

Financial Services

Real Estate

Media and Entertainment

Consulting

Software Development

Biotechnology

Clean Energy

E-commerce

Relevant Teams

Legal

Executive Leadership

Corporate Development

Finance

Governance

Human Resources

Business Development

Investment

Operations

Administrative

Relevant Roles

CEO

CFO

Corporate Lawyer

Legal Counsel

Company Secretary

Business Development Director

Founder

Co-founder

Board Director

Chief Legal Officer

Investment Manager

Venture Capital Partner

Corporate Governance Officer

Startup Advisor

Financial Controller

Managing Partner

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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