How to deal a Voluntary Exit from Startup


1
We are a 3 people company running from last 3+ years, we have our share holding agreement with equal share for each of us but no specific vesting clauses. Now i am planning to quit for personal reasons[ not fired ] . I would like to get money for the shares at the time of quitting, but company wants to differ it to a future date whenever they get an external funding citing lack of money now. What is the best way to handle this situation. Can i actually force them to pay at the time of exit or wait till external fund is raised

Equity Exit Startups Cofounder

asked Jan 25 '15 at 21:14
Blank
StartupGuy
6 points

1 Answer


1

It all depends on the exact terms of your agreement of course, but your issues are the same as most founders in your situation:

1. Your value your work and believe the company has potential

2. But the startup is still cash-poor since it's not making money

3. So no one can buy your shares at a price you'd like today

Frankly, the only sane option is to wait and sell your shares later, but relinquish control to the remaining two founders. Support them passively. Understand that a fair deal should have you lose some benefits since you are not actively contributing anymore.

answered Jan 30 '15 at 04:29
Blank
Alain Raynaud
10,927 points

Your Answer

  • Bold
  • Italic
  • • Bullets
  • 1. Numbers
  • Quote
Not the answer you're looking for? Ask your own question or browse other questions in these topics:

Equity Exit Startups Cofounder