On Mon, Dec 15, 2014 at 9:53 PMWilliam McNamara wrote:
I was going to address this is a group conversation but will address this now.
You have not been at TMT for 10 years. As per our conversation, if you comps per our conversation, if you complete 10 years you get your additional 5% held and secured by some form of contract written by lawyers (been discussed before).
In looking at emails dating back to Oct- Nov 2013, you sent me a message wanting 25% of the comoany, etc., etc. I immediately told you NO.
As explained, and I will explain again, you were given 20% profit share as I thought I was being generous because of problems of security giving someone % and they just quit. Have discussed this with Sam multiple times.
I agreed that if you put in additional time (for a total of 15 years) you could get another 5% up to 20%. Unfortunately, I will probably not be part of TMT for an additional 9 years.
You have been at TMT 6 years with multiple problems. I have not fulfilled our agreement by giving you your 5% after first 2.5 years. And 10% at 5 years. This will be done once all the problems currently occurring at TMT.
If you think I am giving you 20% of this company for what you have already been compensated, resigning on me, costing TMT thousands already, for 6 years work we can finish the conversation now.
I have not been given a guarantee I am not giving % of my company away and you have not been given your shares. This is exactly what I said to you in our one-on-one conversation last week. This has been a problem all along.
To make up for that problem I have given you 20% profit share to make up and show my intent. When paperwork is finally done and you get your %10 +additional 5% if you fulfill contract/ agreement profit share will return to what your % of ownership is. Anything else will be considered a bonus of which I believe I have openly given in the past to make up for any inconvenience in the inability to get the contract signed.
This has nothing to do with Randy……He wants the whole company/ control but Iam working with attorney and advisor on getting best deal for us without dilution.