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If then statements you wish you had included in a Founder's Agreement

1 points by sbfeibish · 2 comments


2 threads
prirun

  if I.leave() and I.find(buyer):
    if cofounder.wants(cofounder.shares > company.shares/2): 
      co-founder.buy(company.shares/2, buyer.shareprice)
As it was, our founding agreement stated that remaining founders could buy any number of shares at the same price a potential buyer paid. That allowed my co-founder to buy 1 share for $100 (or whatever) and gain majority control of the corporation, rather than forcing him to buy all my shares. This made it impossible (or at least improbable) to sell my shares to a 3rd party as it changed my 50% ownership to a minority position.
nslindtner

if (weEarnALotOfMoney) throw new BehaveDecentlyException("keep money people away");

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