VW New Texas C Corp Questionnaire

Please list the name of the governing person of the parent entity.

This address will be listed in our client records.

This address will be listed in our client records.

Please provide the preferred entity name of the new company.

In case your preferred name is not available, please provide two additional alternative names.

A Registered Agent is the official “contact person” for a business. A business must officially designate a registered agent to receive and accept any lawsuits, notices, or other legal documents on behalf of the entity. Texas requires every entity to assign a registered agent before it is authorized to conduct business within the state.

Please note, a company cannot serve as its own Registered Agent.

You will need an EIN to open a bank account. In order to apply for an EIN a responsible party must provide a Social Security number.

This is needed for filing the EIN and also for certain securities exemptions notices.

The Business Address will be used for the following: 1) It will be the Directors' address listed in the governing documents; 2) It will be the address on file with the IRS; and 3) It will be listed as the address for notices listed in the company's legal documents.

The Business Address will be used for the following: 1) It will be the Directors' address listed in the governing documents; 2) It will be the address on file with the IRS; and 3) It will be listed as the address for notices listed in the company's legal documents.

A Director is an elected or appointed person who sits on the board of directors and helps the corporation to make certain decisions. Typically the board of directors is responsible for setting the strategic direction of a company. You must name at least one Director.

Please add the name of your company's President.

Please add the name of your company's Secretary.

Please add the name of your company's Treasurer.

How many shares would you like to issue to each of the company's founders? We recommend 10,000,000 initial shares with some portion, maybe 5% (500,000) or 10% (1,000,000), reserved for future issuance or an employee pool. Note that you can always issue additional shares in the future, but this will require an amendment to your certificate of formation.

How many shares would you like to issue? We recommend 1,000 initial shares. Note that you can always issue additional shares in the future, but this will require an amendment to your certificate of formation.

Vesting is the period of time that securities (usually stock options) may be subject to forfeiture or repurchase based on meeting certain time or milestone criteria. Vesting co-founder equity helps to protect the company’s equity – so that a departing co-founder doesn’t depart with a lot of equity, but rather only the equity that has vested. A vesting schedule is the timeline over which a stock recipient’s equity vests. The typical vesting schedule is four years with a one year cliff. A one year cliff means that nothing vests for the first year, but after a year the vesting would catch-up to 12/48, and then the remaining balance would vest over three years (typically 1/36 a month for 36 months). If you plan to raise money, you will need to vest your shares. Check out our blog How Founder Vesting Really Works for a more detailed explanation.

Please describe your custom vesting schedule.

An option plan is a plan created by a company to issue stock options to its employees and service providers. If yes, we will be in touch with next steps.

Please type any specific option plan instructions here.