Provided by: Jennifer Kirschenbaum, Esq.
April 4, 2024
Question:
Jennifer,
Jennifer,
I’m recruiting a new doctor I have agreed to sell equity to if the first year goes well. How do I capture this in his contract?
Thanks,
Thanks,
Dr. K
Answer:
In as non committal way as possible! We try to avoid contracting to contract in the future because ______ (insert favorite “time” proverb). If you feel the opportunity will only land with details in writing, it’s important to detail the conditions to any grant - subject to definitive agreements, with terms, including pricing to be set forth at the time of grant; language any grant is subject to…continued service, agreeing to fair market value as dictated by grantor…. Inclusion of some of the above…. My preference is we omit details and leave the concept of a potential offer vaguely included. Happy to discuss.
Answer:
In as non committal way as possible! We try to avoid contracting to contract in the future because ______ (insert favorite “time” proverb). If you feel the opportunity will only land with details in writing, it’s important to detail the conditions to any grant - subject to definitive agreements, with terms, including pricing to be set forth at the time of grant; language any grant is subject to…continued service, agreeing to fair market value as dictated by grantor…. Inclusion of some of the above…. My preference is we omit details and leave the concept of a potential offer vaguely included. Happy to discuss.
