- Jurisdiction
- California
Hi,
For about the last year I have been working with a startup company. Prior to me signing a Consulting Agreement, I was doing work for them but not getting paid. I finally signed a contract to come on as a 'Consultant.' Over the last year, I have done a lot more than what was laid out in the contract, and have virtually acted as though I am a full-time employee. Just about a month ago I was given 7,000 shares of stock (already vested...back dated). Now, the company are telling me that they are extremely low on funds and chances are I will be let go at the end of this month. As a stock holder, am I entitled to some type of severance or payout? Also, if I wanted to, could I sell these shares back to the company? Do I have more options? Looking for some advice.
Thank you
For about the last year I have been working with a startup company. Prior to me signing a Consulting Agreement, I was doing work for them but not getting paid. I finally signed a contract to come on as a 'Consultant.' Over the last year, I have done a lot more than what was laid out in the contract, and have virtually acted as though I am a full-time employee. Just about a month ago I was given 7,000 shares of stock (already vested...back dated). Now, the company are telling me that they are extremely low on funds and chances are I will be let go at the end of this month. As a stock holder, am I entitled to some type of severance or payout? Also, if I wanted to, could I sell these shares back to the company? Do I have more options? Looking for some advice.
Thank you