Started a new job but feel blindsided:
I recently accepted a job at a small startup for half my normal salary with the trade off of equity to one day make the paycut worth it. I took the job knowing that there would be a lot of growing pains and I am technically full time employee number three but I feel that what was explained to me prior to starting and during my experience over the past 6 weeks is not coming to fruition. Plus the written contract came in with added clauses and restrictions, including a buyback of equity and non-compete/non-solicitation, which were never discussed with me prior to accepting the job. I began working in good faith before the written contract came in and now I feel that I’ve been blindsided. The company has been paying me.
I began putting feelers out again to my network and have a few interviews lined up, with some progressing to later rounds already. I am unsure how to now handle the written contract that the current company I am working for is asking me to sign since at this point I do not want to sign it and I might leave. How do I put this off for another week or so to try and get new offers on the table? TIA.
Natalie Micale
Executive Coach
99
02/24/22 at 1:20PM UTC
Hi there. Like some of the others have said, you need to make sure you have adequate time, and possibly legal counsel, to review the additional terms. The non compete isn’t all that unusual in situations like these, but them not telling you ahead of time is. I’d say that’s a bit of a red flag. If you enjoy the work and believe the company will be successful, doing more digging into the details seems worth it to me. Best of luck to you!
Joan Williams, Senior Talent Acquisition Specialist
21.8k
02/19/22 at 3:22AM UTC
Tell them you need to find an attorney to look at it before you sign it.
I was going to say tell them you're having your attorney look at it, but saying you have to find an attorney might buy you some additional time.
Anonymous
02/18/22 at 2:14AM UTC (Edited)
I’d advise you to deflect (illness, family emergency, pressed for time) if you believe that you’ll have an offer within a week to 10 days.
I’d say that non-compete/non-solicitation clauses are standard. There’s nothing wrong with an equity buyback *provided* that 1)the buyback is not forced and (if the company is not publicly traded) (2)the valuation method is sound.
That said, it sounds like this company is not a good fit for you and that you have an excellent network and other options. Is there any downside to resigning without signing the contract before you have a new job?
Anonymous
02/22/22 at 1:10PM UTC
I was able to get rid of the non-compete but the non-solicitation is 24 months which is very long. The buyback is not forced but the valuation is not sound. They are also very adamant about this so I feel confident they will exercise their right to the buyback when they can. I’ve exhausted all options of excuses and am talking to them today. I am going to propose a shorter non-solicitation and 50% buyback option. I was also advised to add in a severance package but I am not sure how to ask for this.
resigning before I have another contract is not possible financially right now.
Anonymous
02/17/22 at 5:23PM UTC
If you enjoy working there, I would voice my concerns about specific contract terms that are missing. I wouldn't sign it unless all terms you previously discussed are included. Stand your ground and be direct and assertive. You are your own advocate. There are no guarantees that a startup will be successful, so trust your instincts if you are feeling uneasy about it. I can't help but wonder, if they're behaving like this now what will the future bring? Good luck with your decision.
Heather Cutler
8.97k
02/17/22 at 5:03PM UTC
Did you sign your employment contract, even with the addition of these added clauses and restrictions?
Anonymous
02/17/22 at 7:23PM UTC
No I haven’t signed the contract yet and I want to delay because of these new interviews I am taking
Anonymous
02/17/22 at 2:25PM UTC
Can you say you have concerns about the terms on the contract, they were not discussed during interviews and negotiations, and you need to renegotiate these terms?
Anonymous
02/17/22 at 7:24PM UTC
Yes I have been negotiating but they are being very adamant about keeping these new clauses in even though they were not disclosed prior to accepting the job
