Worksheet

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Deal Worksheet

1

Deal

Base salary
GP percent
Time points
Milestones
total points in the table
2

What it pays

Cash FY27
Cash FY28
Cash FY29
Cash 4yr total
Equity paper at round
Equity at 2036 mid
Expected package value (risk-adjusted, 2036 mid)
3

Teddy side

of 16 points from the existing pool
Your stake at a 2036 mid exit
Fixed context. Unaffected by this table.
4

Rebalance menu

5

Structure check

Private layer

Matt only. Not on the table.
Structure floor
$M expected equity, mid basis
Exchange rates
1 point equals $2.0M to $2.5M.
1 point equals 3 to 4 GP points.
Never trade equity for cash.
Counter quick-table
He raises M1 to $6M
Take it, but attach the 5-year window or 80 percent partial credit.
He wants fewer time points
Hold the floor at 5. The moved point becomes a build milestone.
He pushes GP down
Accept 5 percent only in exchange for +1 point.