Carta Collective

I need to draft an option that is outside of the existing plan (i.e., the options do not count against the existing option pool). How can I do that? Thanks

The typical process for these types of grants is to create a "non-plan" equity plan. Here are the instructions on how to do so:

1. Create a new option plan.
2. Name the plan something to indicate that this is a non-plan plan, such as "Non-plan Plan", "Allocated Shares/Options", or "Shares for Stakeholder Name".
3. Set the size of the option pool to match the amount of the equity award.
4. Draft the option grant to come from the non-plan plan.
5. The option grant will still be required to add the three documents while drafting, so you may need placeholders if any are not applicable. Each time the company issues something from the non-plan they will need to add an amendment for just the amount being issued.