Value creation for Phuc (in case of failure of any of the below points, Phuc should walk away from the firm):
rationalize 1: Founders comeliness - The equity division suggested by Michael doesnt expect fair. I (Phuc) was non able to contribute something great from his spatial relation till now, as there was nothing signed mop up by Michael and Georg. Still I prepared a mental image for the website which he needs to do during later time. This shows that I am proactive and have very good technical skills, where I can understand the requirements of the client appropriately. I felt I deserve somewhere between 25-28%, as I am going to be involved in both engineering science and consulting. I was able to reach what I require and reason at 27%.
Issue 2: Salary for Phuc conflicting all others I was earning good amount of money of $200,000. therefrom he should be fully compensated for this loss. I had confide in front of Michael and Georg, I should at least get half of what I was earning before, but they made it clear to me that theyll not be able to pay me that high, as they themselves are not taking salaries.
But I was able to persuade them and finalized with $72,000.
Issue 3: Seed Capital I did not cherished to discuss much on this issue, as I was cognisant that this is the initial investment done by both Michael and Georg, and I cannot claim a part in it. So I get 0% of the seed equity.
Issue 4: rabbit warrens share All of us decided that warren should not get any share in reveals equity since his contribution has been nil. So, Warrens share is 0% now.
Phuc Value Creation:
Founders Equity| 1%|
Phucs Salary| $1,10,000|
Seed Equity| 37.5%|
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