Founder terms · Read before you sign
What you
sign at
Day 0.
The terms below are the operating defaults. Anything not marked "illustrative" is the standard offer. Any specific number or rule is set at the intake conversation and written into the signed docs before the ninety-day clock starts.
§ 01Founder equity
Vesting scheduleFour years, monthlyStandard startup vest on founder common stock. Vesting starts on the signature date, not Day 0.
CliffOne yearNothing vests before the twelve-month anniversary. On the anniversary, the first twelve months vest at once and the rest vests monthly.
AccelerationDouble-trigger, 100%Full acceleration on a change of control combined with an involuntary termination without cause. Single-trigger acceleration is not offered by default.Illustrative default; the executed grant governs.
Option pool10% pre-SAFEReserved at incorporation, before the studio’s SAFE. The founder’s stock is not diluted by the initial pool.Illustrative default; a Door C match may size the pool differently to accommodate an early hire.
Refresh grantsCase by caseNo automatic refresh. A refresh grant is discussed at the Day-90 reading or at the seed round, whichever is earlier.
§ 02Studio equity
Range15–25% commonAlways a minority position. Adopt (bring your own idea) sits lower in the range; Assemble (build on a studio thesis) sits higher.
How it’s setAt intake, in writingThe exact percentage is agreed during the intake conversation and does not move after Day 0.
Build-value SAFE$8M cap · 20% discountStudio’s fully-loaded 90-day cost sits as a post-money SAFE. Converts only if a priced seed round closes.See the worked math on /safe-terms →
§ 03Board and control
Board sizeThree seatsOne founder seat (CEO), one studio observer with information rights, one independent seat kept open for the seed round.
Founder controlBoard majorityUntil the seed round, the founder holds the working majority of the board. The studio observer does not vote.
Protective provisionsStandard, narrowStudio consent is required for a sale of the company, a change to the SAFE terms, or issuing stock senior to it. Everything else is the founder’s call.Illustrative default; final list is in the signed docs.
Day-90 readingJoint call, signed memoThe reading is written up as a memo and signed by the founder and the studio. Disagreement routes to §04 below.
§ 04Disputes and early exit
Day-90 disagreementFounder-finalIf the founder and the studio read the evidence differently, the founder’s call governs. The studio records its dissent in the memo and the record stands.
Mid-cohort exit by founderTwo-week noticeThe founder can end the arrangement mid-cohort. Vesting stops on the notice date. The studio’s SAFE and equity stay intact. The company, code, customers, and domain stay with the founder.
Mid-cohort exit by studioCause onlyThe studio can only end early for cause defined in the operating agreement (fraud, material breach). No unilateral pull-out over a slow week.
Governing lawDelaware · JAMS arbitrationDelaware C-corp, Delaware law. Any dispute the parties can’t resolve directly goes to single-arbitrator JAMS arbitration.Illustrative default; final forum is in the signed docs.
§ 05Confidentiality during application
A founder pitching an idea before any document is signed is taking a real risk. The default rules for the application stage:
- We do not sign NDAs, ever. We treat your information as confidential because that is the right way to work, not because a document compels us.
- Applications, intake calls, and match briefs are shared only with operating partners and, for Door C, a shortlisted counterparty who has agreed to the same terms.
- The studio does not build a copy of a market it saw first in a founder application. If a wedge later appears in the studio thesis independently, the timeline is on the record.
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