Rules of the Game

Co-creators Contract for Co-sharing Value

1. Compensation 

1. Every Co-creator in the Primary Team earns an Equitable Share of total Equity Credits billed for their contribution to BBs delivered. 

2. All Equity Credits are payable in cash within the Standard Credit Terms at Contractual Rates for Agreed EMH billed. 

3. All Equity Credits are secured by Stock Options in client Projects until Settled.

4. All Equity Credits and Equity Stocks are convertible to promiXo at promiXo Standard Exchange Rate.

2. Co-Creators

1. Co-creators are those who have signed up at Better World Makers Network by accepting the vision, mission and values of the network.

2. Co-creators are teams at Startup Tribe that work together to co-create Building Blocks and co-share equitably the value they get in return. There are two kinds of team members: Permanent Team Members and Ad Hoc Members.

3. Primary Team

1. Primary Team has permanent slots for three teams: 

1. The PMO Team that is responsible for planning, resourcing, management and accounting for projects building blocks.    

2. The Delivery Team that is responsible for delivering the building blocks.

2. Every team has the following roles: 

1. DEs (Domain Experts); and 

2. RDAs (R&D Associates) 

3. Every team member has to be a co-creator i.e. a member of Better World Makers Network.  

4. A domain expert can have more than one RDAs and but an RDA can have only one DE. 
5. The billing to projects is based on agreed man-hours worked by the RDA and not the DE.  

4. Equitable Share

1. Equitable share is a predefined sharing formula commensurable to the permanent member teams roles in the primary team. The billed amount is shared in two steps: (i) 80:20 between the teams and then 50:50 between RDAs and their respective DEs as follows:

1. PMO Team 20% [of which 50% goes to the RDAs and 50% to their respective DEs]

2. Building Block Team 80% [of which 50% goes to the RDAs and 50% to their respective DEs]

2. Equitable shares of each member of the Primary Team will be proportionately diluted based on value contributed by Ad Hoc Team Members, if any, added to the Primary Team on a need basis. 

5. Equity Credits

1. Equity Credits are credits that Co-creators earn as compensation for their contribution to delivery of Building Blocks based on agreed hours of work done. Equity Credits grant rights to members to claim their cash share in the cost billed to Building Blocks delivered or convert the credits to Equity Shares at the Nominal Value in relevant Projects in case Equity Credits are not Settled with Standard Credit Term. Any mutual understanding among the team members to deviate from the standard Equitable Share shall not automatically affect their Equitable Share in Building Blocks.

6. Building Blocks [BB]

1. Building Blocks are well defined chunks of work with Price Tags that are outsourced to Startup Tribe Co-creators for delivery.

7. Standard Credit Term

1. Standard Credit Term means 90 days period from the billing date.

8. Contractual Rates

1. Contractual Rates are charge-out rates agreed with Projects by the Building Block Team for delivery of required Building Blocks. In other words, Contractual Rates are hourly rates at which projects award contracts to co-creators. Example: If 100 hours of effort is needed to deliver a building block and the rate is agreed to be $10 per hour, the cost of the Building Block will be $1000 (=100x10). 

9. Agreed EMH

1. Agreed EMH are estimated man-hours agreed between co-creators and projects to deliver particular BBs 

10. Stock Options

1. Stock options grant rights to the holder to convert any overdue Equity Credits to Equity Stocks of the client project at Nominal Value. 

11. promiXo [WIP]

1. promiXo is a (crypto) coin backed by Equity Stocks in Co-creators projects. 

2. One promiXo coin has a fixed value equal to one Equity Credit. 

3. Dividends earned on the underlying Equity Stocks are distributed to promiXo holders Equally, after some deductions to recover administrative costs, as a part of rolling out Unconditional Basic Income for promiXo community. 

4. promiXo community has access to a banking portal with a shopping cart to trade stuff using promiXo coins.

5. promiXo project is well underway and should be launching soon subject to legal due diligence and statutory approvals.

12. promiXo Standard Exchange Rate

1. promiXo Standard Exchange Rate is One promiXo coin for one Equity Credit.   

13. Equity Stocks

1. Equity Stocks are equity shares in projects that make holders co-founders or shareholders. 

14. Nominal Value

1. Nominal Value of one Equity Credit equals one man-hour of work. A Building Block with a 100 man-hours of work will earn the co-creators team 100 Equity Credits that will be distributed among the team equitably based on the agreed sharing ratio.

15. Projects

1. Projects are clients that outsource Building Blocks to Co-creators. 

2. Some Projects are independent entities that have their own governance and others are Co-creators own projects co-founded by the Network members and incubated with Startup Tribe governance.

3. Start Tribe’s governance system is based on the Network’s overarching Vision, Mission and Values. 

4. Acceptance of the Vision, Mission and Values is a pre-condition to become a member at the Tribe and the Network. 

5. Once the incubated projects get matured they are spinned off as a separate legal entity with their own governance system.

16. Settlement

1. In case of a default to pay within the Due Date, the holder of Equity Credits gets the right to convert Equity Credits into Equity Shares in the relevant Project. That’s to say, the Equity Credit holder can either exercise his or her rights to convert the credits into shares at the Nominal Value or wait until the Project is capable of settling the credits in cash.

2. An Equity Credit holder can also exchange Equity Credits for promiXo at promiXo Standard Exchange Rates any time.

3. You can bill the projects and be paid in the currency approved by the project based on their location or preferred location in case of more than one location. Any forex gains or losses and remittance cost shall be on your own account. You’ll be responsible for your own taxes and meeting compliance requirements.

17. Equity Shares

1. Equity Shares represent shares of ownership in relevant building blocks of relevant projects, whether incorporated as LLCs or not. All rights of the shareholders shall be proportionate to their shareholdings. Equity Shares can only be sold or transferred between the members of the network, unless the project is a stand-alone legal entity outside the Network's domain.

18. Ad Hoc Members

1. AD Hoc Members are those who are asked to join the Co-creators Primary Team on a need basis. The Permanent Team Members equity in the Building Block is diluted equitably to accommodate the new members in the team proportionate to the contribution they make to Building Blocks. 

2. An Ad Hoc member can be both resource providers or capacity providers, e.g., vendors, investors or lessors etc. Their contribution shall be valued at fair market price as determined by the Project in consultation with the PMO.

3. For example, Permanent Members have contributed $100 of value to a Building Block and need an Ad Hoc Member (AHM) to contribute $10 by paying a SaaS subscription. 

19. Permanent Team Members

1. Co-creators in Primary Teams roles are also called Permanent Team Members 

20. Startup Tribe

1. Startup Tribe is a local startup foundry for social enterprises. It runs programs to co-create communities, solutions and ecosystems based on sharing economy principles in collaboration with Better World Makers Network.

21. Other conditions:

1. You will always use the Network’s system at betterworldmakers.org to work on any assigned projects in any role you take to enable compliance monitoring.

2. The offer to invest or contribute resources is not valid for the general public - only the Network’s members may apply.