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Ask HN: Sample Equity/partnership contract?
Hi,
I created a LLC company, and I'm the ceo. I recently hired a new CTO who I almost consider a partner in my company, so I want to offer him 50% of my company's equity, with 30% having voting rights and 20% no voting rights (so he has an equal economic stake, but I still have control in case we need to make some big decisions). Any simple contract that is easy to understand that I can use? Hiring legal counsel is out of the question for me, I heard the fees are ridiculous and I don't have any seed capital available that I'm not already using. Please help! Thanks!
- sama 18y agoGive him 49% of the equity.
- johnation33 18y agoI'd rather do it with voting/not voting rights... primarily with outside investors, if we get them, 49%/51% equity can be easily overriden if the outside investor agrees with him, and I'd like any outside investment to be given pro rata If investor wants 5%, 2.5% from his share, 2.5% from my share
- johnation33 18y agoanyone else can help me with this?