I have to consider leaving or renegotiating with a one-year-old $6M ARR startup I co-founded due to disagreements and disappointments over what was promised to me.
I as the marketing founder am entitled to 20%, while the other technical founder who coded it is entitled to 80%.
I worked on it from scratch, for about 12 months, without pay.
When starting, we verbally agreed that I get 20% of the company after one year, and that's it.
Now the written contract draft can claw back 10% from me, even when it's vested, and then squeeze me out.
Is it reasonable to insist on 20% and full protection for what I own and its future benefits, with no strings attached and a guaranteed board seat, so no squeeze-out is possible? - They still think it's unreasonable and a red flag for future VCs.
I don't want to leave now. But neither I want to risk leaving empty-handed for working insanely hard already and continuing to do so for more years.
What would you do, besides getting a lawyer?
Thanks!
I as the marketing founder am entitled to 20%, while the other technical founder who coded it is entitled to 80%.
I worked on it from scratch, for about 12 months, without pay.
When starting, we verbally agreed that I get 20% of the company after one year, and that's it.
Now the written contract draft can claw back 10% from me, even when it's vested, and then squeeze me out.
Is it reasonable to insist on 20% and full protection for what I own and its future benefits, with no strings attached and a guaranteed board seat, so no squeeze-out is possible? - They still think it's unreasonable and a red flag for future VCs.
I don't want to leave now. But neither I want to risk leaving empty-handed for working insanely hard already and continuing to do so for more years.
What would you do, besides getting a lawyer?
Thanks!