Collaboration Agreement

The undersigned (each party a “Collaborator” and collectively known as the

“Collaborators”) are collaborating with the purpose of developing as a team a business
concept pertaining to:

[DESCRIBE COMPANY / PRODUCT / PROMOTION / TECHNOLOGY HERE]

(the “Collaboration”), which, if developed, would be launched into a company to be

formed by the Collaborators (the “Startup”). In connection therewith, and in the event
the Collaboration is successfully developed, the undersigned Collaborators hereby
agree as follows:

1. Each Collaborator shall assign to the Startup, upon its formation, the full title
guarantee all of his or her right and interest in the Collaboration for the full term of such
rights and all renewals and extensions and shall do all such further acts and execute all
such further documents and instruments as may from time to time be required by the
Startup that are necessary or desirable to vest absolute legal and beneficial ownership
of the Collaboration in the Startup;

2. Upon formation of the Startup, the entire issued share ownership of the Startup will
be split:

● Option 1: [“equally between the Collaborators”] or

● Option 2: [set out percentages per founder or team member];

3. The shares issued to each Collaborator shall be on a vesting schedule so in the

event that a Collaborator terminates his/her relationship with the Startup or is terminated
for cause during the four-year period from the date the shares were issued, a portion of
such shares shall be returned to the Startup in accordance with the following vesting
schedule:

[DESCRIBE VESTING SCHEDULE HERE]

4. If majority of the shareholders wish to sell the Startup to a third party, they shall have
the right to require the other shareholders of the company to sell their shares to such
third party under the same terms.

5. Each Collaborator hereby represents and warrants to the other Collaborators that he
or she is not a party to any agreement or arrangement which would restrict such
Collaborator’s ability to perform its obligations as set forth above and that no third party
can claim any rights to the Collaboration which may be developed by each Collaborator
that is the subject of this Agreement.

In Witness Whereof, the Parties have caused this Collaboration Agreement to be duly
executed and delivered as of the date first written above.

______________________ ______________________
[Collaborator Name] [Collaborator Name]
[Date] [Date]