He didn't like it. So, we got together and attempted to come up with another offer which would be acceptable. Here it is. We acceded to the original terms. Majority of each class of stock to approve any new plan.
Forfeited options return to pool.
If not on board, an advisor. Override by 6 or 7 directors. Frank Chambers approves investors. First refusal on private equity offerings. After these terms were presented, it was clear that we would never come to an agreement on the issue of awarding stock options to employees to give them a real stake in the company's success.