I dont know the exact corporate structure but if it is a start up. Investors usually want a seat on the BoD and if their shares are larger than the founder’s they ultimately control the company so they can fire him. He probably got a good golden parachute.
” He probably got a good golden parachute.”
Not necessarily. Investors usually have a morals/conduct clause in their agreements - and when you screw up, you don’t have a pot of gold when you exit. He does get severance and retain his equity stake.
I have one, and all my officers have such an agreement with our investors. But to be honest, I’ve never heard of their investors.
On another note, I had asked another FReeper about PacketSled’s governement contracts, but have not seen anything. Other than the City of San Diego’s contract.
My company’s contracts with the Feds has been publicized and we are a much newer entity than PacketSled, and in a different niche.