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09-09-2016 , 10:46 AM

#201

LFS

emo gaylord

Join Date: Dec 2004 Posts: 21,863

Obviously the horse has already left the barn, but it is definitely a good rule of thumb that when the person is saying one thing and the contract says something else, you definitely should not count on what the person is saying. And unless you mention it and they say "oh, right, my mistake, let me fix that right away", it's a good reason to watch your ass in general because you have good reason to suspect this is not a trustworthy person.

09-09-2016 , 10:48 AM

#202

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,244

I understand the initial snap response everyone has about what is in the contract.

But, you realize that going through the steps to actually fight the person based on the written contract isn't just some easy process.

09-09-2016 , 10:51 AM

#203

#Thinman

Carpal \'Tunnel

Join Date: May 2012 Posts: 12,764

no big deal, you wouldn't be the first greedy person dumb enough to cough up their own cash at the hope of a big score.

09-09-2016 , 10:53 AM

#204

LFS

emo gaylord

Join Date: Dec 2004 Posts: 21,863

I think the process would go like:

- Conversation about terms of agreement
- Receipt of written contract
- "Hey, I definitely am counting on health insurance, but it says here that I might get health insurance, someday, so can we get that changed?"

09-09-2016 , 11:04 AM

#205

DodgerIrish

Fraudulent Zodiac

Join Date: Dec 2007 Posts: 28,182

Quote:

Originally Posted by Larry Legend

Well to be fair the company didn't really exist until I became its first employee, so a lot of my contract terms were boilerplate.

If they didn't yet have health insurance I can imagine they wouldn't want to put specific details in the contract about it.

So that means everyone's contract is either the same or some reference it.

Can you not ask for an addendum that pins down a goal/timeline? If you are super vital, wouldn't the implicit threat of discussing the subject potentially produce action? I'd guess you'd want to do it in a certain tone and not rubelike for that effect though.

I have no idea, just ruminating.

09-09-2016 , 11:14 AM

#206

Gin 'n Tonic

Carpal \'Tunnel

Join Date: Mar 2005 Posts: 5,533

Larry, is your startup an IPO or private equity?

If the latter do you know how well funded it is? Just the boss' own money or are there angels / venture capitalists?

What is your opinion as to the company's likely future performance? Any reason investors might be getting cold feet?

What's your upside if the company does really well - not nebulous stuff you might have been promised verbally to get you on board, but what's in your contract?

09-09-2016 , 11:31 AM

#207

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,244

Spoke to my boss and will be getting health insurance today, was a misunderstanding, and boss was hugely apologetic and didn't realize i didn't currently have a private plan.

09-09-2016 , 11:35 AM

#208

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,244

Quote:

Originally Posted by Gin 'n Tonic

I'm not exactly sure what you mean by IPO or private equity.

It is minimally funded at present, but access to funding isn't really a concern. If anything, the culture here is to take as little money as possible and keep equity with the employees/founders. We're about bootstrapping.

The company's performance is very much based on my performance. I have a history of high performance and a do-whatever-it-takes attitude. I think things are going much better than expected so far.

My upside is very high. My contract is for a significant amount of stock and a cash compensation package that is very reasonable outside of that.

09-09-2016 , 11:43 AM

#209

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,244

This is also a good lesson in going directly to the person you have a misunderstanding with, and not letting it fester.

09-09-2016 , 12:14 PM

#210

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 20,405

Quote:

Originally Posted by Larry Legend

This is also a good lesson in going directly to the person you have a misunderstanding with, and not letting it fester.

Where's the fun in that?

09-09-2016 , 12:16 PM

#211

Gin 'n Tonic

Carpal \'Tunnel

Join Date: Mar 2005 Posts: 5,533

Glad the problem got sorted, sounds like a great opportunity! GL.

09-09-2016 , 02:40 PM

#212

lonely_but_rich

ɔarpal \ʇunnel

Join Date: Mar 2009 Posts: 23,424

Is there any chance a trucking company named Kustom Karriers based in Newton, KS isn't owned by white supremacists?

09-09-2016 , 02:58 PM

#213

chopstick

Carpal \'Tunnel

Join Date: Mar 2005 Posts: 9,157

Quote:

Originally Posted by Larry Legend

My upside is very high. My contract is for a significant amount of stock and a cash compensation package that is very reasonable outside of that.

What makes you say that the amount of stock is significant? Did they give you access to the cap table?

09-09-2016 , 03:13 PM

#214

2/325Falcon

Conehead

Join Date: Aug 2005 Posts: 21,799

Larry,

Do you guys have scooter races in the office?

09-09-2016 , 03:41 PM

#215

LFS

emo gaylord

Join Date: Dec 2004 Posts: 21,863

Quote:

Originally Posted by Larry Legend

Spoke to my boss and will be getting health insurance today, was a misunderstanding, and boss was hugely apologetic and didn't realize i didn't currently have a private plan.

That's great!

09-09-2016 , 05:19 PM

#216

Larry Legend

Celtic Pride

Join Date: Jul 2009 Posts: 42,244

Quote:

Originally Posted by chopstick

What makes you say that the amount of stock is significant? Did they give you access to the cap table?

Yea, but that doesn't mean much obv. If/when we raise money I'm going to get diluted. I can basically perform well and be rewarded with more stock, and then when we raise I'll probably get diluted by about 50%, possibly more, but that means someone thinks we are worth money which is generally a good thing.

Quote:

Originally Posted by 2/325Falcon

Larry,

Do you guys have scooter races in the office?

Not yet, but we should.

09-09-2016 , 06:34 PM

#217

wombat4hire

in touch with humanity

Join Date: Oct 2008 Posts: 6,937

Quote:

Originally Posted by lonely_but_rich

What ever happened with her feud with Katy Perry? I need to know.

Watch out for the Regina George in sheep's clothing.

09-09-2016 , 06:47 PM

#218

lonely_but_rich

ɔarpal \ʇunnel

Join Date: Mar 2009 Posts: 23,424

Haha, I don't get that reference at all.

09-09-2016 , 11:36 PM

#219

wombat4hire

in touch with humanity

Join Date: Oct 2008 Posts: 6,937

That's definitely a good thing. Still, I'm TEAM KATY for life.

09-10-2016 , 02:02 PM

#220

MadeLiefje

Daisyesque

Join Date: Mar 2009 Posts: 4,298

i'm going to a jazz bar for the first time tonight. I'm kind of excited.

09-10-2016 , 03:23 PM

#221

Gin 'n Tonic

Carpal \'Tunnel

Join Date: Mar 2005 Posts: 5,533

Quote:

Originally Posted by MadeLiefje

i'm going to a jazz bar for the first time tonight. I'm kind of excited.

Sounds fun, tr please.

09-10-2016 , 04:39 PM

#222

DodgerIrish

Fraudulent Zodiac

Join Date: Dec 2007 Posts: 28,182

Quote:

Originally Posted by MadeLiefje

i'm going to a jazz bar for the first time tonight. I'm kind of excited.

hope it lives up to all that ...

09-10-2016 , 04:42 PM

#223

Bluegrassplayer

banned

Join Date: Sep 2007 Posts: 40,645

That article about the girl who moved to Silicon Valley for the startup is pretty lolworthy. Not surprisingly it took all of 10 minutes for the people to figure out and post the company name in the comments.