

Ask HN: Sample Equity/partnership contract? - johnation33

Hi,<p>I created a LLC company, and I'm the ceo. I recently hired a new CTO who I almost consider a partner in my company, so I want to offer him 50% of my company's equity, with 30% having voting rights and 20% no voting rights (so he has an equal economic stake, but I still have control in case we need to make some big decisions). Any simple contract that is easy to understand that I can use? Hiring legal counsel is out of the question for me, I heard the fees are ridiculous and I don't have any seed capital available that I'm not already using. Please help! Thanks!
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sama
Give him 49% of the equity.

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johnation33
I'd rather do it with voting/not voting rights... primarily with outside
investors, if we get them, 49%/51% equity can be easily overriden if the
outside investor agrees with him, and I'd like any outside investment to be
given pro rata If investor wants 5%, 2.5% from his share, 2.5% from my share

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johnation33
anyone else can help me with this?

