I just joined a startup which is fully funded by my partner ($300K+). Solid business plan, pre-launch (1 year) worth of work and developed site which will be launched in 2 wks. I will lead all biz dev and mktg. I was offered an ok monthly salary + 5% of the biz in 6 months. Additional 1% every 6 months up to 10% of the company. Does this sound fair? Any ideas and or suggestions for other ways to structure this partnership?

That sounds very fair. All the employment contracts I have seen have a 12 month cliff before you would receive anything. The remaining 5% of yours is then vested over a 2.5 year period which is a year shorter than the standard contracts I’ve seen

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