4 ms·

I'm sorry you're in that situation. Do you have that promise in writing? If so you are in a much stronger position and if it comes to that an attorney may help.

I'm sorry you're in that situation. Do you have that promise in writing? If so you are in a much stronger position and if it comes to that an attorney may help. Regardless, I'd bring the stock and the concerns about the CEO to the board/investors if you think it will help but don't waiver in your convictions. It sounds like they don't have their stuff together, are deliberately trying to screw you or both. In that case you don't owe them anything and you'd be doing yourself a favor by getting out now. Their behavior is a big red flag. I've made the mistake of ignoring those in the past because I've wanted it so badly and had things drag out and cost me a whole lot of time and money.

spartabubble 9y ago
I have in my contract that when the options plan will open I will receive the 10%. The contract though is only valid while I still work there. How do I know if I should quit or stick along? What should I be looking out for?
- andymoe 9y ago
  You've found it. It's time to have an adult conversation with them. They are not treating you like a co-founder even though 10pct is co-founder territory. It's been a year and they've not acted in good faith. Even more importanlty they are probably screwing the employees as well by not having their stuff together. Everyone's options are supposed to vest over time. Theirs and yours and they had better have yours and everyone else's vest retroactively from start date. The other thing is that the valuation of the company went up after taking the million dollars and I don't even know what that would do to options price or how to deal with that. Companies in the US can give you a 80pct discount on the options or something without having tax consequence I think and there are probably other ways to get around that but anyway. Yeah, talk to your atterney. This is bad.
gus_massa 9y ago
Remember to talk with your lawyer, not any lawyer and definitively not with the company lawyer.
- spartabubble 9y ago
  Should I talk to the lawyer before I quit of after?
  - andymoe 9y ago
    Talk to them right now before you do anything. Take all the paperwork you can get your hands on.

spartabubble 9y ago

I have in my contract that when the options plan will open I will receive the 10%. The contract though is only valid while I still work there. How do I know if I should quit or stick along? What should I be looking out for?

andymoe 9y ago
You've found it. It's time to have an adult conversation with them. They are not treating you like a co-founder even though 10pct is co-founder territory. It's been a year and they've not acted in good faith. Even more importanlty they are probably screwing the employees as well by not having their stuff together. Everyone's options are supposed to vest over time. Theirs and yours and they had better have yours and everyone else's vest retroactively from start date. The other thing is that the valuation of the company went up after taking the million dollars and I don't even know what that would do to options price or how to deal with that. Companies in the US can give you a 80pct discount on the options or something without having tax consequence I think and there are probably other ways to get around that but anyway. Yeah, talk to your atterney. This is bad.

gus_massa 9y ago

Remember to talk with your lawyer, not any lawyer and definitively not with the company lawyer.

spartabubble 9y ago
Should I talk to the lawyer before I quit of after?
- andymoe 9y ago
  Talk to them right now before you do anything. Take all the paperwork you can get your hands on.