SketchDeck founders (David Mack and Christopher Finneral) hired an engineer for COO then suddenly unhired ≤ 2 weeks later, after the guy had turned down other offers, sold house, AND started working by signing up more customers, using his network for investor intros, etc. All they told him was that their needs changed, wanted someone with a different skill set. No severance/compensation for the disruption personally and professionally.
http://bit.ly/1nG8m8o
Scumbags.
Didn’t read link but it’s dumb to not have a contract in place if you’re being hired for a key role and about to make such a huge life decision. My contract requires the startup to give 30 day notice and cause for termination. Work for hire ‘paid for’ service (this means, I get the check first before you get my work product). Equity reverse vested (because I’m taking poverty level salary to start) and a defined salary schedule over the vesting term. In it are things like buy-back rights incase I leave is spelled out in clear writing to protect both parties. You have to plan for worst case scenarios up front. Hope this helps for anyone considering a C-level role at a startup. Oh and while you’re at it, have a accelerated vesting clause in there if you have options in the event a change of control takes place (company get’s sold, founder no longer in control of company, etc).
Great answer!
The Sketchdeck founders seem to have taken disrupt-ing a bit too far. Yeah we are supposed to disrupt things but not peoples personal lives lol.
lol
SketchDeck is going to get a new lesson in California labor laws…
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