SkyMirror Implementation: Week 1-2
Founder Agreements & Legal Documentationβ
Overviewβ
This document provides the detailed implementation plan for completing all founder agreements and legal documentation during Weeks 1-2 of the SkyMirror documentation enhancement project.
Company Registration Detailsβ
| Detail | Information |
|---|---|
| Legal Name | SkyMirror Kft. |
| Company Registration Number | 01-09-430617 |
| Tax Number (Tax ID) | 32559950-2-42 |
| Country of Incorporation | Hungary |
| Legal Form | KorlΓ‘tolt FelelΕssΓ©gΕ± TΓ‘rsasΓ‘g (Kft.) |
| Registered Office | KΓ‘lmΓ‘n Imre utca 1, 1054 Budapest, Hungary |
Week 1: Founder Agreementsβ
Day 1-2: Shareholder Agreementβ
Shareholder Agreement - Key Termsβ
1. Equity Allocation
| Shareholder | Class | Voting Rights |
|---|---|---|
| Lukman Ibrahim (CEO) | Common A | 1 vote/share |
| Eric (CTO) | Common B | 1 vote/share |
| Dr. Loveday (COO) | Common B | 1 vote/share |
| Abdulwahab A (CFO) | Common B | 1 vote/share |
| Jerone Lebadie (CMO) | Common B | 1 vote/share |
| Employee Option Pool | Options | N/A |
| Advisor Pool | Options | N/A |
Note: Specific share counts and equity percentages are confidential and shared with investors under NDA only.
Rationale for Founder-Led Structure:
- Lukman Ibrahim is the sole funder of all company operations
- Originated and developed all core business ideas (CheckMet, Traquiva, Academy)
- Bears full financial risk
- Provides strategic direction across all business units
- Maintains control for decisive leadership
2. Share Classes
| Class | Description | Rights |
|---|---|---|
| Common A | Founder shares (CEO) | Full voting, board seat, anti-dilution protection |
| Common B | Co-founder shares | Full voting, proportional representation |
| Options | Employee/Advisor pool | Vest over 4 years, 1-year cliff |
3. Transfer Restrictions
- Right of First Refusal (ROFR): Company and then other shareholders have right to purchase shares before any external sale
- Lock-up Period: 2 years from grant date for all founders
- Drag-Along Rights: Majority shareholder (CEO) can require all shareholders to participate in approved sale
- Tag-Along Rights: Minority shareholders can participate in any sale by majority shareholder
4. Decision-Making
| Decision Type | Approval Required |
|---|---|
| Ordinary business | CEO approval |
| Annual budget | CEO + CFO |
| Equity grants | CEO + Board |
| Major contracts (over β¬100K) | CEO |
| Fundraising | CEO + Board |
| Sale of company | 75% shareholder approval |
| Amendment to shareholder agreement | 75% shareholder approval |
Day 3-4: Founder Employment Agreementsβ
CEO Employment Agreement - Lukman Ibrahimβ
## Employment Agreement Summary
### Position & Duties
- **Title:** Chief Executive Officer
- **Reporting:** Board of Directors
- **Location:** Budapest, Hungary (with remote flexibility)
- **Start Date:** [Date]
### Compensation
- **Base Salary:** β¬[X] per year
- **Bonus:** Up to [X]% of base salary based on company performance
- **Equity:** Founder shares - already granted
- **Benefits:** Health insurance, pension contribution, equipment
### Vesting
- **Shares Subject to Vesting:** [Confidential]
- **Vesting Schedule:** 4 years
- **Cliff:** 12 months (25% vests)
- **Monthly Vesting:** 2.08% per month after cliff
- **Acceleration:** 100% on change of control
### Termination
- **Voluntary Resignation:** 90 days notice
- **Termination for Cause:** Immediate, unvested shares forfeited
- **Termination without Cause:** 6 months severance, accelerated vesting
### Non-Compete
- **Duration:** 12 months post-employment
- **Scope:** AI attendance, learning platforms, software development in Europe
### Confidentiality
- Perpetual obligation to protect company confidential information
- Includes all product, customer, and business information
### IP Assignment
- All work product belongs to company
- Prior inventions disclosed and excluded
CTO Employment Agreement - Ericβ
## Employment Agreement Summary
### Position & Duties
- **Title:** Chief Technology Officer
- **Reporting:** CEO
- **Location:** [Location]
- **Start Date:** [Date]
### Compensation
- **Base Salary:** β¬[X] per year
- **Bonus:** Up to [X]% of base salary
- **Equity:** 1,000,000 shares (10%)
- **Benefits:** Health insurance, pension, equipment
### Vesting
- **Shares Subject to Vesting:** 1,000,000
- **Vesting Schedule:** 4 years
- **Cliff:** 12 months (25% vests)
- **Monthly Vesting:** 2.08% per month after cliff
### Termination
- **Voluntary Resignation:** 60 days notice
- **Termination for Cause:** Immediate, unvested shares forfeited
- **Termination without Cause:** 3 months severance
COO Employment Agreement - Dr. Lovedayβ
## Employment Agreement Summary
### Position & Duties
- **Title:** Chief Operations Officer
- **Reporting:** CEO
- **Location:** [Location]
- **Start Date:** [Date]
### Compensation
- **Base Salary:** β¬[X] per year
- **Bonus:** Up to [X]% of base salary
- **Equity:** 500,000 shares (5%)
- **Benefits:** Health insurance, pension, equipment
### Vesting
- **Shares Subject to Vesting:** 500,000
- **Vesting Schedule:** 4 years
- **Cliff:** 12 months (25% vests)
- **Monthly Vesting:** 2.08% per month after cliff
CFO Employment Agreement - Abdulwahab Aβ
## Employment Agreement Summary
### Position & Duties
- **Title:** Chief Financial Officer
- **Reporting:** CEO
- **Location:** [Location]
- **Start Date:** [Date]
### Compensation
- **Base Salary:** β¬[X] per year
- **Bonus:** Up to [X]% of base salary
- **Equity:** 500,000 shares (5%)
- **Benefits:** Health insurance, pension, equipment
### Vesting
- **Shares Subject to Vesting:** 500,000
- **Vesting Schedule:** 4 years
- **Cliff:** 12 months (25% vests)
- **Monthly Vesting:** 2.08% per month after cliff
Day 5: IP Assignment Agreementsβ
IP Assignment Agreement Templateβ
## Intellectual Property Assignment Agreement
### Parties
- **Assignor:** [Founder Name]
- **Assignee:** SkyMirror Kft.
### Assignment
The Assignor hereby assigns to the Assignee all right, title, and interest in:
1. **Prior Inventions:** [List any prior inventions to be assigned or excluded]
2. **Work Product:** All inventions, discoveries, developments, improvements,
and works of authorship created during employment, including but not limited to:
- CheckMet facial recognition algorithms and software
- Traquiva learning platform and content
- All software code, documentation, and designs
- All patents, trademarks, and copyrights
3. **Future Inventions:** All inventions created during employment that relate to
company business or use company resources
### Moral Rights
Assignor waives all moral rights to the extent permitted by law.
### Cooperation
Assignor agrees to execute any documents necessary to perfect the assignment.
### Consideration
This assignment is made in consideration of employment and equity grants.
Week 2: Legal Compliance Documentationβ
Day 1-2: Corporate Structure & Registrationβ
Corporate Structure Checklistβ
-
Company Registration
- SkyMirror Kft. registered in Hungary
- Registration number documented
- Articles of Association filed
- Shareholders registered
-
Tax Registration
- Hungarian tax ID obtained
- VAT registration (if applicable)
- EU VAT registration for cross-border sales
-
Banking
- Corporate bank account opened
- Signatory authorities documented
- Online banking set up
-
Insurance
- Directors & Officers (D&O) insurance
- Professional liability insurance
- Cyber liability insurance
Day 3-4: Data Protection & Privacyβ
GDPR Compliance Checklistβ
-
Data Protection Officer
- DPO appointed (if required)
- DPO contact published
-
Privacy Policies
- Website privacy policy
- CheckMet privacy policy (biometric data)
- Traquiva privacy policy (learner data)
- Employee privacy policy
-
Data Processing
- Records of processing activities (ROPA)
- Data processing agreements with vendors
- Data transfer mechanisms (SCCs for non-EU)
-
User Rights
- Subject access request process
- Data deletion process
- Data portability process
-
Security Measures
- Technical measures documented
- Organizational measures documented
- Breach notification process
Biometric Data Compliance (CheckMet)β
| Requirement | Status | Action |
|---|---|---|
| Explicit consent obtained | β¬ | Implement consent flow |
| Purpose limitation documented | β¬ | Update privacy policy |
| Data minimization applied | β¬ | Review data collection |
| Storage limitation defined | β¬ | Set retention periods |
| Security measures implemented | β¬ | Encryption, access controls |
| DPIA completed | β¬ | Conduct assessment |
Day 5: Contract Templatesβ
Customer Contract Template (CheckMet/Traquiva)β
## SaaS Subscription Agreement
### 1. Services
SkyMirror will provide access to [CheckMet/Traquiva] platform as described in
the Order Form.
### 2. Subscription Term
- **Initial Term:** [12/24/36] months
- **Renewal:** Auto-renewal for successive 12-month periods
- **Termination Notice:** 60 days before renewal
### 3. Fees
- **Subscription Fee:** β¬[X] per user per month
- **Payment Terms:** Monthly/Annual in advance
- **Late Payment:** 1.5% per month
### 4. Service Level Agreement
- **Uptime:** 99.9% availability
- **Support:** [Hours and response times]
- **Credits:** [Service credit structure]
### 5. Data Protection
- Customer is Data Controller
- SkyMirror is Data Processor
- Data Processing Agreement attached
### 6. Intellectual Property
- SkyMirror retains all IP in the platform
- Customer retains all IP in their data
### 7. Limitation of Liability
- Cap: 12 months of fees paid
- Exclusions: Indirect, consequential damages
### 8. Termination
- For convenience: 60 days notice
- For cause: 30 days to cure
Software Development Agreement Templateβ
## Software Development Agreement
### 1. Services
SkyMirror will develop custom software as described in the Statement of Work.
### 2. Project Scope
- **Deliverables:** [As per SOW]
- **Timeline:** [As per SOW]
- **Milestones:** [As per SOW]
### 3. Fees
- **Fixed Price:** β¬[X] OR
- **Time & Materials:** β¬[X] per hour
- **Payment Schedule:** [Milestone-based]
### 4. Intellectual Property
- **Option A:** Customer owns all deliverables
- **Option B:** SkyMirror retains platform, customer licenses
### 5. Warranties
- Deliverables will conform to specifications
- 90-day warranty period for defects
### 6. Acceptance
- Acceptance testing period: 14 days
- Deemed accepted if no written objection
Deliverables Checklistβ
Week 1 Deliverablesβ
- Shareholder Agreement (signed by all founders)
- CEO Employment Agreement (signed)
- CTO Employment Agreement (signed)
- COO Employment Agreement (signed)
- CFO Employment Agreement (signed)
- IP Assignment Agreements (signed by all founders)
- Vesting Schedule Documentation
Week 2 Deliverablesβ
- Corporate registration documentation
- Tax registration documentation
- GDPR compliance documentation
- Privacy policies (website, CheckMet, Traquiva)
- Data Processing Agreement template
- Customer contract templates
- Software development agreement template
- NDA template
Next Steps (Week 3-4)β
After completing founder agreements and legal documentation:
-
Customer Acquisition Tracking
- Set up CRM (HubSpot)
- Define sales stages and pipeline
- Implement CAC tracking
-
Investor Data Room
- Organize all legal documents
- Prepare financial statements
- Create pitch deck
- Document traction metrics
Document Version: 1.0 Created: December 2024 Owner: CEO / CFO Status: Implementation Ready