Details below for OCV internal use only

Founders will be employed by their company’s EOR provider. OCV sends out an indicative offer letter to document compensation, equity, and prior inventions (if any) in the ECIIAA.

Founders will receive an official offer letter through EOR provider once the company has been formed (see Company Formation), in the weeks following receipt of their indicative offer letter.

Also see Global Workforce Considerations for non-US based founders.

Basic offer letter fields

• Founder name
• Company legal name
• Country of employment
• EOR provider (as formal employer)
• Position - CTO, Founding Engineer, etc.
• Start date
• Home office location

Employment status

Founders (CTOs and CEOs) are always hired as full-time employees. Salaried founders’ employment status should reflect their dedication to the company and help build investor confidence rather than adding unnecessary risk.

Fundraising is about telling a compelling story that convinces investors why they should back a company. If a founder is a contractor rather than a full-time employee, it adds an extra layer of explanation that takes time and energy away from the goal: securing investment. Instead of spending valuable time overcoming that concern, we eliminate the issue by requiring founders to be full-time employees.

Compensation

Founder offer letters will need to include the following information:

• Base salary amount in local currency (use proper 3-letter currency label before amount)
• Payment schedule (monthly in arrears)

If the Company is purchasing any existing domain names from the founder, include: