As per clause 2, if you drop out with 45 or more days left before Graduation, then you are not obligated to issue the warrant.

However, if you drop out with less than 45 days left in the program, then you are contractually bound to issue the Founder Institute a Warrant in accordance with the Entrance Agreement. This prevents people from cheating the system and leaving the program at the very end, thereby purposefully avoiding the Equity Collective and cheating their Local Leader, Mentors, and the Founder Institute. Unfortunately we have seen this situation occur in the past, so we need to have protections against it.