Tell me more ×
Answers OnStartups is a question and answer site for entrepreneurs looking to start or run a new business. It's 100% free, no registration required.
up vote 1 down vote favorite

I am looking for a sample contract for a CFO position in a startup company. Also, What is an appropriate amount of compensation to give a CFO in terms of stock.

Thanks!

share|improve this question
2  
I would love to hear you tell us more about why you need a CFO and what you envision their role will be. – John Sjölander Dec 16 '10 at 10:44

2 Answers

up vote 2 down vote

you might found already a sample contract, like the one posted at http://contracts.onecle.com/adventrx/plumb.svc.2003.01.20.shtml

However, the compensation might be what you decide. It depends on your financial abilities and on your funding sources. If you are funded by venture capital, your financier might like to be asked about what compensation you offer to a CFO.

On the other hand, it might not even necessary to hire a full time CFO. If you only need some advice or someone who reviews your financial statements and prepares some planning or presentation things, than it might be enough to hire a part time CFO.

Hope this helps.

Cheers, Stephan

share|improve this answer
1  
+1 for thinking about when to hire a CFO. Many companies wait until they're tens of people of more before they hire a full time CFO. And even then, they often double as HR or something else. Make sure you actually need it, it may be painfully expensive if your timing is wrong. – John Sjölander Dec 16 '10 at 10:43
up vote 1 down vote

OneCLE provides a lot of free sample (empirical) contracts. If you have a LexisNexis or Westlaw account, you can download some better ones and even drafting guides.

For CFO compensation data and analysis, see: https://www.compstudy.com/. The 2009 Summary Report can be retrieved from here: https://webforms.ey.com/content/vwWFPreview/US/en/2009_Comp_study_report_in_technology?OpenDocument

Found a new data source: http://www.startupcompanylawyer.com/2009/05/01/how-much-should-you-pay-an-executive-in-a-startup-company/

CFO average equity in IT startups is: 1.01%

I remember something similar on VentureHacks and Payscale

share|improve this answer

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.