New ask Hacker News story: Ask HN: Am I being fooled at a Dutch startup?
Ask HN: Am I being fooled at a Dutch startup?
23 by throwaway106720 | 20 comments on Hacker News.
A couple years ago I started working for a Dutch startup. I was offered an equity package, but didn't think much of it at that time. After going through a couple of funding rounds, well, I started looking into it. The Dutch structure is called STAK and is basically a company-in-a-company without any voting rights. Currently it is about 6% of company stock divided among 10 employees. I'm still very well aware that it could be worth 0 EUR in the end. I also very well aware of tricks being played by investors and engineers being squeezed out of their faire share. Since money came, it all about scaling up and getting a good exit. A month ago I (and the other engineers) were finally able to sign the original STAK equity contract. It was apparently an additonal contract. This might be negligence on my side, but I simply didn't know. The equity package and vesting scheme is briefly mentioned in my initial contract. In this new contract the vesting scheme changed and included a lot of additional company and personal goals to be achieved. So it is not only time-based now. (it was said this was for tax reasons). Due to this it makes it a lot harder to vest any additional stock (about half would probably impossible to vest). I'm on good terms with the founders and I think it is possible to renogatiate this. But I don't know where to start. I read a lot about equity packages at American startups, but this probably doesn't apply for my situation. Can anyone offer me advice - What to do best? - How do I make sure what I vest, I really do vest and they don't change the rules again? - Is it worth anything (even after an exit). - The additional goals were set because of tax authority rules (is this a straight out lie)?
23 by throwaway106720 | 20 comments on Hacker News.
A couple years ago I started working for a Dutch startup. I was offered an equity package, but didn't think much of it at that time. After going through a couple of funding rounds, well, I started looking into it. The Dutch structure is called STAK and is basically a company-in-a-company without any voting rights. Currently it is about 6% of company stock divided among 10 employees. I'm still very well aware that it could be worth 0 EUR in the end. I also very well aware of tricks being played by investors and engineers being squeezed out of their faire share. Since money came, it all about scaling up and getting a good exit. A month ago I (and the other engineers) were finally able to sign the original STAK equity contract. It was apparently an additonal contract. This might be negligence on my side, but I simply didn't know. The equity package and vesting scheme is briefly mentioned in my initial contract. In this new contract the vesting scheme changed and included a lot of additional company and personal goals to be achieved. So it is not only time-based now. (it was said this was for tax reasons). Due to this it makes it a lot harder to vest any additional stock (about half would probably impossible to vest). I'm on good terms with the founders and I think it is possible to renogatiate this. But I don't know where to start. I read a lot about equity packages at American startups, but this probably doesn't apply for my situation. Can anyone offer me advice - What to do best? - How do I make sure what I vest, I really do vest and they don't change the rules again? - Is it worth anything (even after an exit). - The additional goals were set because of tax authority rules (is this a straight out lie)?
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