Date

Name
Address
City, State Zip
Dear Name,
It is my pleasure to extend to you an offer to join Company Name, LLC as a Title. As
discussed, Company Name, LLC is an early stage start-up company and we are
unable to provide current compensation at this time. However, we are confident
that we will create a valuable company together and plan on issuing equity to early
participants based on your contribution to the firm relative to other participants.
Shares will be determined using a Grunt Fund as outlined in the book Slicing Pie, by
Mike Moyer.
You will be working as a ________ Grunt (as outlined in the book) reporting directly to
me.
Start Date: Day, Date
Full-Time Commitment: This offer is for a full time commitment of at least
40 hours per week. During the term of your employment it is expected that I
will be you primary employment and our projects and assignments will take
priority over other work you might have.
Compensation: You will not receive any current compensation nor will you
accrue any rights to cash payments by Company Name, LLC. You are a
member of our start-up team and your contribution will be tracked as
outlined in the book. When and if the company issues equity in the company
your shares will be commensurate with other participants providing a similar
contribution.
We agreed that, if we were able to pay you a market salary, you would earn
$XX,000 per year. This translates into a Grunt Hourly Resource Rate (GHRR)
of XX according to the calculation below.
Company, LLC Street, City, State Zip Phone email

Market
Rate

Current
Compensation

Two

Working Hours
in a Year

GHRR!

$XX/Ho
ur
Vacation and Personal Days: You may take time off on an as-needed basis
with advanced-notice subject to my approval. There is no limit to your time
off, but use your discretion to balance time off and productivity. You will not
be compensated for time off; you will only be compensated (with pie) for
hours worked.
$XX,000

$0.00

2,000

Responsibilities: You will be assigned tasks within your capabilities as an

________ including on ________________
An outline of initial projects is attached to this letter. You will be required to
log hours worked on a daily basis and provide regular updates on work
performed.
Confidentiality: In the course of your employment as a contract employee,
the Company will further provide you with one or more of the following:
access to Trade Secrets, Account Passwords, Payment Tools (like credit cards
and PayPal) and other Confidential Information of the Company; contact with
Company vendors and suppliers; contact with Company customers; contact
with Company employees who possess Trade Secrets, Account Passwords,
Payment Tools and Confidential Information; and other support to help
develop goodwill for the Company with the its vendors, suppliers, and
customers. By signing this letter you agree to keep this information
confidential and within your control at all times. All private information will be
returned to the Company immediately upon termination.
Work for Hire: Under the United States Copyright Act all work created
during your employment at all stages shall be and shall remain the sole and
exclusive property of College Peas, LLC.
Your acceptance of this offer and the above terms can be acknowledged by your
signature below and forwarding a scanned copy to me at email@address.
Congratulations, NAME, I look forward to working with you and to the contributions
you will surely make to Company Name, LLC.
Most sincerely,

NAME
Company
Accepted and agreed:
Company, LLC Street, City, State Zip Phone email

Name

Date

Company, LLC Street, City, State Zip Phone email

Alternative Paragraphs
If the Grunt is part-time
Part-Time Commitment: This offer is for a part-time commitment of at least
10 hours per week, but not more than 20 hours per week. Additional hours
require advanced approval my your supervisor.
If the Grunt is receiving cash compensation
Compensation: In lieu of a market-based salary you will receive an annual
salary of $YY,000 per year. You will be paid bi-monthly in the amount of
[$YY,000/26] Additionally, as a member of our start-up team, your
contribution will be tracked as outlined in the book. When and if the company
issues equity in the company your shares will be commensurate with other
participants providing a similar contribution.
We agreed that, if we were able to pay you a market salary, you would earn
$XX,000 per year. This translates into a Grunt Hourly Resource Rate (GHRR)
of XX according to the calculation below.
Market
Rate

Current
Compensation

Two

Working Hours
in a Year

GHRR!

$XX,000

$YY,000

2,000

$XX/Ho
ur

If the Grunt is part-time and receiving cash compensation

Compensation: In lieu of a market-based salary you will receive an hourly
rate of $ZZ. Your rate times approved hours will be paid bi-monthly.
Additionally, as a member of our start-up team, your contribution will be
tracked as outlined in the book. When and if the company issues equity in the
company your shares will be commensurate with other participants providing
a similar contribution.
We agreed that, if we were able to pay you a market salary, you would earn
$WW per hour. This translates into a Grunt Hourly Resource Rate (GHRR) of
XX according to the calculation below.
Market
Hourly
Rate

Current
Compensation/H
our

Two

GHRR!

$XX

$YY

$XX/Ho
ur

Company, LLC Street, City, State Zip Phone email