IT'S EASYOur Pledge Agreement will only take you about 5 minutes to complete online
IT'S PERSONALYour pledge isn't tied to equity and won't affect shareholders or cap table
IT'S FREEWe don’t take a cut of your pledge. There are no fees, costs or commissions
HOW BIG IS THE AVERAGE PLEDGE?
If you’re just starting to think about your donation, you may not be sure how much to give at this point, and that's OK! The average is just shy of 5%. We can even help you find the optimal donation based on your tax situation when you exit.
WANT A GLIMPSE OF THE NITTY GRITTY DETAILS BUT IN PLAIN ENGLISH?
Take a look at the Plain English version of our Pledge Agreement before you sign the real thing.TAKE A LOOK
Plain English Pledge Agreement
__JOHN SMITH__ (the “Pledgor”) is a founder of or an investor in __JOHN SMITH ENTERPRISES__, Company no. 1234567 (the “Company”) and has been in discussions with Founders For Good Ltd., Company no. 08565148 and UK registered charity no. 1162201 (“FFG”), in connection with FFG’s initiative to encourage and facilitate charitable giving by entrepreneurs and investors.
The Pledgor is entering into this binding agreement with FFG on __31 DECEMBER 2016__ to pledge funds to the non-profit organisation(s) specified in Appendix 1 or those non-profit organisation(s) later identified in writing by the Pledgor (each a “Charity” and together the “Charities”) either directly or through FFG as an intermediary, on the terms, and subject to the conditions herein.
1/ When and as Pledgor receives cash for Pledgor’s equity interests in the Company (whether stock, options or otherwise) or those equity interests become freely tradable securities, the Pledgor, with the intention to be legally bound, irrevocably agrees to pay to FFG or the Charities 10% of the value of, or proceeds received for, those equity interests within three months after that cash is received by or on behalf of the Pledgor or the equity interests become freely tradable. Payment may be made in cash or in shares of the Company’s stock at the then-current value. The Pledgor agrees to promptly notify FFG in writing of any payments made directly to the Charities.
2/ FFG agrees that it will follow the Pledgor's wishes and, at its sole discretion, fund grants to the Charities selected by the Pledgor, except where FFG determines that it would be unreasonable or inappropriate to do so.
FFG will only deny grants for good cause, if for example a Charity has been found to be engaging in illegal or prohibited activity, is no longer a UK registered charity, or is subject to insolvency proceedings.
In such cases FFG will work with Pledgor to ensure the amounts are applied in accordance with his/her wishes at that time.
3/ FFG will not apply any amounts pledged under this Agreement for its own benefit unless the Pledgor notifies FFG in writing that FFG is a Charity that Pledgor wishes to support.
4/ In consideration for this pledge, FFG will publicise the Pledgor’s participation on the Founders Pledge website and will make available to the Pledgor certain of its networking and educational events and will otherwise consider the Pledgor to be a member of the Founders Pledge network and provide him/her the benefits of such membership.
5/ The Pledgor agrees to assume all responsibility for any and all of the tax and legal implications of this Agreement and all payments made as a result and agrees and warrants not to take or permit to be taken any actions that are contrary to the spirit of this Agreement.
6/ If at any time FFG ceases to be a UK registered charity or is the subject of a dissolution proceeding or insolvency proceedings, the Pledgor may, at his/her sole option, elect to make the payments directly to the Charities or terminate this Agreement.
7. The Charities are not third party beneficiaries of this Agreement and the Pledgor shall be free from time to time by written notice to FFG to change and/or update the designated Charities and/or allocation of amounts pledged to FFG under this Agreement.
8/ This Agreement may be assignable by FFG, upon request by, or notice to the Pledgor to a non-profit affiliated with FFG or to a non-profit organisation of the Pledgor’s choice for which charitable equivalency can be determined.
9/ The Pledgor confirms and warrants that the execution and delivery by the Pledgor of this Agreement, and compliance with its terms will not breach or constitute a default under any agreement between the Pledgor and any other party or the constitutional documents of the Company.
10/ If this Agreement conflicts in any way with existing contractual agreements between the Pledgor and the Company (or the Company’s constitutional documents), this document will be construed or amended in such a manner so as to comply with those other agreements or constitutional documents but to preserve the intent of the parties to this Agreement.
This Agreement shall be governed by and construed in all respects in accordance with English law. The courts of England and Wales shall have exclusive jurisdiction to settle any disputes in connection with this Agreement. This Agreement may be signed in any number of counterparts, each of which will be an original and all of which together evidence the same agreement.
Accepted and signed by the Pledgor [JOHN SMITH]
Accepted and signed by Founders For Good [DIRECTOR]