3 ms·
No, this is lunacy. Unless he's also providing a serious discount. If the lawyer is also going to be an advisor, a typical advisor grant is 0.1% - 2% (dependin
by pbiggar 11y ago
No, this is lunacy. Unless he's also providing a serious discount.
If the lawyer is also going to be an advisor, a typical advisor grant is 0.1% - 2% (depending on stage of company). Even then it would vest over typically 2 years.
I would find a new lawyer. As in, I wouldn't trust this lawyer, since he asked for this.
- pbiggar 11y agoTo reassure yourself that this is true, there's a dollar amount he's asking for here. If your company has $1m valuation, that amount is $50k. So he's asking for $50k as a signing bonus, in an arrangement in which he'll give you maybe 50 hours of advice over the year. In addition to fees. (And your valuation is likely higher, in which case his "fee" is too). Run, dont walk, away from this dude. Also, I heard advice somewhere to never ever give equity to vendors.