Grayver Law Group’s founding partner, Leonard Grayver, has prepared a template for an option agreement, under which the founder will be able to receive a share in a startup only when he confirms that he is no longer a resident of the Russian Federation.
Leonard Griver explained on his social network page that many startup founders are still residents of the Russian Federation, but many times startups prefer not to list the Russian-resident founder as a shareholder.
For such situations, the lawyer recommends concluding an option. treatyon the basis of which the founder can receive his share in the start-up when he can confirm that he does not have a Russian residence.
“This is an important condition: many believe that an option that allows a Russian resident to buy a stake in a startup for $1 solves the problem with penalties. This is not the case at all, and such decisions are a gross violation of US law with all the consequences,” Griver wrote.
Griver clarified that his template is to be used “at your own peril and risk.”
Author:
Kirill Bilyk
Source: RB
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