Guidance on Creating Appointment Letters for Co-founders in a Private Company

Hi,

We are an IT startup Pvt. Ltd. company, currently with a small team of developers. We will be hiring a couple of directors in the first fiscal as our team will be increasing substantially. There are two partners (co-founders) of the company, and all the legal documentation is completed. We are considering creating appointment letters for both of us (co-founders) for the positions of CEO and CTO but are uncertain about the format involved. As we are both co-founders, we have not yet decided on who will be the MD. Do we need an MD in our case? If not, can we both sign each appointment letter with the agreed terms and conditions?

I would greatly appreciate a positive and to-the-point response to my query. It would be helpful if anyone could share a format for the appointment letter for founders.

Have a great day ahead.

It is better to consult a Chartered Accountant for the legality of the company and helping out with who should be the MD/CEO, etc. The company needs to be registered with the Registrar, and then on letterheads can the letters be issued.

What is the point of an appointment letter to the CEO/MD of a private company where your names would be mentioned in the company registration agreement and where profit/loss share proportions from the business are mentioned?