Model Memo and Addendum Responding to Offer of Ownership Interests in New or Young Company

To attract and retain the best employees, many employers offer ownership interests – LLC units, restricted stock, “phantom stock,” stock appreciation units, etc. To employees, this represents the possibility of gaining financial security. However the “legal papers” that are usually required to be signed commonly (a) permit reduction in compensation, (b) offers no job security, (c) makes the ownership interests easily forfeited or of very little value, and (d) includes non-compete restrictions. Thus, the “dream” can end up being a nightmare. This Model Memo and Addendum helps employees in this circumstance reduce the risks and raise the rewards. It provides clauses to request be inserted into the required “legal papers.” “What to Say, and How to Say It.”™


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