How is that protecting him if he has a cliff too?
I'm sincerely asking. I'm a total noob when it comes to lawyer stuff and I'm learning everything on the spot right now.
In fact, I'm not signing anything until my lawyer approves.
3 karma · joined October 10, 2015
In fact, I'm not signing anything until my lawyer approves.
2- 37.5, reverse vesting for 4 years with a 1 year cliff. Which I disagree at the moment as I feel we should have something already as we worked 2 years on it already.
3- 25, reverse vesting for 4 years with a 1 year cliff.
4- I would say brushed them aside, but it's more complicated than that.
Ex:
We had an advisor prior to the CEO that we promised some equity in exchange for his council. When the CEO came in and met him, his intentions were to get rid of him from the start, but he was never clear about it. He's the type of person who won't speak his mind directly in order to avoid confrontation.
Our relationship with the previous advisor totally fizzled last friday as he finally understood that he's not going to get anything except stock options of a future value of 20/30k for his previous services.
The way the CEO handled the whole thing raised a big red flag for me as I considered his behavior very dishonest. While my co-founder said to me that the way he handled everything wasn't dishonest and that was the only way he could have handled it without causing more fuss.
As I understand it, the reason why he chose not to keep the previous advisor were:
1- He was asking for a lot of equity. I agree with this.
2- He didn't have any previous background with startups, but had run 3 successful companies in the past. As I call it, he had a lot of business wisdom.
3- Their values and style were totally opposite, as the advisor was more upfront, like me. He didn't like him from the start.