Create a Custom Role for an Executor Signing Safe and Option Agreements

Eqvista provides an option to create a new custom role for an executor signing the SAFE and option agreement.

Note: The add custom role for executors is only available for premium account holders. To unlock this feature, kindly upgrade your account.

Add Custom Role for Executor

Company users can only be assigned as executors for signing SAFE agreements and option agreements. The executor role refers to the role that the executor holds in the company. A few examples are director, secretary, president, chairman, and board member.

There are two methods or ways in which you can create a new executor role on Eqvista. 

Here are the steps to follow:

Step 1: Log into your Eqvista account and choose the company account. 

On the dashboard, click on “Admin Records” on the left side to get a drop-down menu and select “Agreements”.

Step 2: Once you do this, you will be directed to the following page. Here, you will see any agreements that have been created.  There are two methods or ways in which you can create a new executor role.

Method 1

A new role can be added for the executor to sign the SAFE agreement and option agreement while enabling automatic SAFE generation and automatic option agreement generation. 

In this case, let us enable automatic SAFE agreement generation by clicking “Settings” as shown below.

A pop-up panel appears as shown below. Enable automated agreement issuance by selecting “Yes”. Tick the box if the shareholder’s signature is required, select the executors, and to add the role of the executor, click on “+ Add Custom Role”.

Note: Company users can only be assigned as executors. To learn how to add a company user, check out this support article.

Here, type the name in the space provided and click on “tick” to create the new role as shown below. If you want to cancel the process, click on “x”.

Then, add the executor and the newly added role of the executor who will be signing the agreement. 

Note: Select up to two executors and the role of the executor from the drop-down menu.

Once done, click on “Save”.

Method 2

There is another way of creating a new role for the executor while creating a SAFE agreement. To create a new agreement, click on “Create SAFE Agreement”.

Note: You can enable automatic SAFE agreement generation by clicking on “Settings”. Check out the support article to learn more about it!

Step 3: A new panel will appear displaying a list of SAFEs issued to the shareholders. Tick the box if the shareholder’s signature is required.

Note: Before issuing a SAFE agreement, ensure you have issued pre-money or post-money SAFEs. Check out the respective support article to learn how to issue them. 

The moment you select the shareholder, you can see the number of shareholders selected. You can select more than one shareholder. In short, you can select all if you want to issue agreements for all of them at the same time.

Once done, click on “Next”.

Step 5: The next step takes you to add the executor and the role of the executor who will be signing the agreement. To add a role, click on “+ Add Custom Role”.

Note: Company users can only be assigned as executors. To learn how to add a company user, check out this support article.

Here, type the name in the space provided and click on “tick” to create the new role as shown below. If you want to cancel the process, click on “x”.

Then, add the executor and the newly added role of the executor who will be signing the agreement. 

Note: Select up to two executors and the role of the executor from the drop-down menu.

Once done, click on “Next”.

Step 6: The last step involves you checking the information, the executor, and the added role of the executor who will be signing the agreement. 

Once done, click on “Submit”.

Step 7: Then, you will be directed to the following page, where the new SAFE agreement will be created. 

You can see the option “Your sign is required”, which appears for the executor. To sign the agreement, click on “Sign”.

Note: From here, you will be able to perform many functions. To know more about it, check out the support article!

Note: You can reissue the agreement by clicking “Reissue” if the note details have changed. Check out the support article to learn more about it!

If you are the executor, you will also receive an email to sign the agreement and click on “View Agreement”. 

Step 7: Once you click, you can see the agreement displaying the executor’s name and role at the top left of the page. 

Note: The admin or superuser has the option to download the unsigned agreement by clicking on “Download Agreement”. 

Step 8: To sign the agreement, scroll down to the bottom of the agreement, as shown below.

Note: The agreement can be signed by clicking on “Sign Here”. Check out the support article to understand how to sign a SAFE agreement.

If you want to understand Eqvista, check out our support articles or contact us today!