- Jurisdiction
- Idaho
Hi all,
I am currently building a product with two co-founders and operating as an LLC. We have a basic founders agreement between us that granted equity without a vesting schedule.
We have all agreed to convert/merge the LLC into a new C corp and that any granted equity will be changed into vesting equity once the conversion is complete. If a co-founder resigns or is removed at a later point, do they have any legal argument for equity previously granted at the LLC?
I am currently building a product with two co-founders and operating as an LLC. We have a basic founders agreement between us that granted equity without a vesting schedule.
We have all agreed to convert/merge the LLC into a new C corp and that any granted equity will be changed into vesting equity once the conversion is complete. If a co-founder resigns or is removed at a later point, do they have any legal argument for equity previously granted at the LLC?