My question/story is this: two years ago I broke ground on a startup. We planned and planned, raised some funds and broke ground writing code. Two years later we put $250k into the business, have some good people involved, have some revenue (less than $10k), and about 4,500 users. We have a couple proposals out to some F500 companies, and if we close them we'll be off to the races.
I have been Founder & CEO (and every other position in the book) during this time period, and recently, a CFO/COO of another large software company wants to get involved as CEO. He has experience and connections and grew his other software company to $40mm/year biz.
This is our offer, is it fair?
2% up front, 8% vested out over 4 years. The equity vests on company/fundraising milestones. He'd be paid $8k/mo when we raise $500k, and 6 months later we would discuss a raise if all is going well.
Please let me know, I have no idea.