Generally speaking, the way to obtain options for partners is through board sales in addition to board incentives, and most of them give a portion and then sell a portion, which also allows partners to pay money to participate, and once they do pay money, they will truly see themselves as part of the law firm, and subsequently work harder.
This approach works for most people, but not for Jimmy.
Jimmy’s view of investment is that you can invest in anything except money, but not money.
Do not invest money to make a million, invest 100,000 can make two million with a high probability, then he must choose not to invest money to make a million this item.
So this time want money instead of options, also really in line with his persona.
Figured out this point, Nate then did not dwell too much on this issue, secretly thought in his heart: “regardless of whether he wants options or cash, in any case, he only need to sign a 10-year contract with me, to ensure that he will not renege for 10 years, will not leave from me will be enough, since she is behind Steve Rothschild, then as long as he stays in the Ellis, I will be able to rest on my laurels! Now the company is booming, he doesn’t want options that’s his loss, he can’t come back and blame me for future regrets.”
So, Nate said very cheerfully, “No problem Jimmy! Since you insist on taking cash, then we will do as you say, sign a 10-year agreement, every year I pay you an extra $10 million bonus to offset all your options.”
Jimmy reminded, “And my base salary which you’ve promised me to double, that’s four million, that’s fourteen million dollars a year for my guaranteed income.”
Nate waved his hand, “Jimmy, you’re thinking a little too conservatively, four million is your base salary, ten million is your options discounted cash, if you perform well, there will also be specific performance bonuses as well as project bonuses, with your ability, it’s still not a problem to do twenty million a year.”
Jimmy shook his head very modestly and said, “What is my own situation, I know very well in my own heart, let’s not talk about the bonuses, you just need to write this 14 million into the contract, I can sign at any time.”
“Good!”Nate laughed, “Then let’s sign as soon as possible, I’ll have someone prepare the contract.”
Jimmy reminded him, “Oh yeah, we haven’t talked about the liquidated damages clause yet.”
Nate was busy saying, “Geez Jimmy, I trust you one hundred per cent, there’s no need to mess around with a liquidated damages clause.”
Nate thought in his heart, this guy is behind the Rothschild family cover, even if he really defaulted, they do not dare to look for him to settle accounts ah, rather than do this would be better to do a favour, so that he felt his trust in him.
But he did not expect, Jimmy this time very seriously said: “Nate, I’m not afraid of me backtracking, I’m afraid of you backtracking, in case you want to terminate the contract with me early, then what do I do? I have to have certain guarantees.”
“How!”Nate hurriedly said, “With the relationship between the two of us and my trust in you, it is absolutely impossible for me to terminate the contract with you early.”
Jimmy nodded and said, “Even though I trust you, I still need to leave a written agreement to avoid any problems entangled in the future.”
With that, Jimmy said, “Let’s put it this way, we don’t need other tedious clauses, I just have one, if you terminate your co-operation with me in advance before these 10 years are up, you have to compensate me for all of the 10 years of all the salaries as well as the options in cash discount in one go, can you do that?”
Nate said without hesitation, “Don’t worry, I have absolutely no problem! Just do as you say!”
