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Immediately. He's taking 5% equity in exchange for no salary (He got other biz that he is earning his money from) In a way, this 5% is sort of compensation for
by keiretsu 19y ago
Immediately. He's taking 5% equity in exchange for no salary (He got other biz that he is earning his money from)
In a way, this 5% is sort of compensation for his consultation/advisory services, albeit more hands on.
He ask for 5% equity plus directorship. Problem is, right now i'm the only director. So if i don't like him, i cannot sack him as director. I have to wait for 1 year for the AGM before i can don't re-elect him.
- falsestprophet 19y agoA man with a 5% stake seems more like an employee than a co-founder.
- keiretsu 19y agohe has options to buy up to 40% stake