Q: (S-Corp ) Cal. We want to offer up to 5% in Preferred stock in return for performance. What doc would i need to draft?
California S Corp. I'm a co founder looking for a simple draft that give someone equity in return for performance based on milestones set forth by my terms of the deal. Total allowable equity would be 5% in the form of Preferred Stock. (non voting)
A:
You can do an employment agreement or consulting agreement with this person, assuming that you've already issued shares.
A full consultation would be necessary to properly advise you.
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