Meeting 7 - Working Agreements c3406e13195f434b848b28ff25035845
Meeting 7 - Working Agreements
Attendees: Incan denza, fmurphy, Fabs Martins Event time: March 7, 2023 Type: Brainstorm
Agenda
- Facilitator -
- Secretary -
1. Check in
Fabs:
Fintan:
Paolo:
Purpose of the agreement:
So all partners and future team mates have a clear understanding what to expect and make clear commitments to the team in what they will provide
Ownership Structure and Desired Renumeration
- This will be a not for profit business/DAO
- Percentage of ownership each partner will have
- Not decided on token sale v’s only raising grants via grants
- How ownership percentages will be determined and updated -
- This will be a non-profit and will not have share ownership
- How new partners may be added or existing partners may be removed from org
- Anyone new, need unanimous agreement between founders (use 4)
- Need to develop warning system - 3 strike rule to remove core contributors. A second approach will be the ability to remove a contributor with the agreement of all 3/4 founders
- Voting power - develop a document of the governance system
Roles and Responsibilities
- Description of each partner’s role and responsibilities
- Need to make a list of tasks to be done (based on road map) and develop out
- What is my commitment to the team (hours per week or project based)
- Monthly payments will be based pro-rata on committed hours
- 10% of obtained financing to be paid equally to 3 founders
- How decisions will be made and by whom
- Core team voting
- How conflicts will be resolved
- Core team vote based
Management and Operations
- How the business will be managed on a day-to-day basis
- Possibility to implement Agile / Scrum methodology to manage day to day work
- How profits and losses will be distributed
- N/A
- How finances will be managed and how financial statements will be prepared
Intellectual Property and Confidentiality
- How intellectual property (e.g., patents, trademarks, copyrights) will be managed and protected
- Everything will be open source
- How confidential information will be handled and protected
Exit Strategy
- How the business will be dissolved if necessary
- If all founders want to quit, options go to core team or have the opportunity to dissolve the business
- If 1 or some founders want to quit, voting power offered to remaining founders
- How partners can exit the business voluntarily
Dispute Resolution
- Process for resolving disputes between partners
- How disputes will be handled if they cannot be resolved internally
Miscellaneous Provisions
- Miscellaneous legal provisions, such as governing law and dispute resolution venue
- Signatures of all partners and the date the agreement is executed
5. Kudos & Meeting close
Fabs:
Paolo:
Fintan:
Melissa: