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rthorntn, post: 182171 wrote:
Hi,

Thanks to everyone that has helped me in the past.

I have a sales guy I want to hire.

Because I am a new business the base salary is low, his commision/bonus is quite a large part of profit and there is equity awarded at 12 and 24 months.

I am worried about all the ins and outs so need help preparing and tuning the agreement so it makes sense and is all good legally.

The sales guy has accepted, so ideally I need to stay true to what we agreed.

The main issues are the definition of profit, my concern that because I am not taking a salary he may make more money than me, the tax implications of equity and the fact that there will have to be targets in there that will be raised annually.

Who should I get to do all this, is it able to be done over email for a fee?

Thanks for looking, much appreciated!

Cheers
Richard

Hi Richard,

Good to see there is a recommendation of who you could contact so hopefully he can word everything to protect you but seriously I wouldn’t do it. I am in a position now of being ‘stuck’ with people in my company who would like to now take me for whatever they can. They aren’t sticking to their side of the agreement and it has become nasty and costly with legals. Is there another way around it for you?

Think long and hard about it and talk to others to find out what has worked for them. I’m happy to give you more information about what my mistakes were so you don’t fall into them too. Good luck with whatever you do though.