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I note of satisfaction entered Fox’s voice. “That’s what I mean when I talk about a story. You’ll appreciate I had your background researched. Our company prefers to know exactly who we’re dealing with.”
“Likewise.” Seth returned Stanton’s stare. “I won’t sell a business I’ve built from scratch based solely on the sale price.” It was one hell of a sweetener, but people’s livelihoods were at stake. “Brooke-Porter Digital’s record in previous buyouts often included an assurance of continued employment for staff who chose to remain. That’s missing from your offer.” Crunch time. “My staff’s expertise helped make Shazad what it is. Without their knowledge, you’re squandering a vital asset.”
“There are plenty of designers around, Seth.”
“I chose those people because they were the best at making cutting edge apps nobody else had.”
“And soon, another group of people will have a different take. New talent isn’t hard to find when you know what you’re looking for.”
What was this guy’s game? He wanted to have a pissing contest to see who blinked first? “What do you want?”
Fox leaned into his chair like a king on a throne as he pronounced judgment over his subjects. “All employees must sign a noncompete clause, which will be invoked if they terminate their employment.”
“For how long a term?”
“Two years.”
“Make it one year, and restrict it to me and my brother, Dillon. I was the principal designer for the original apps. As President and Dillon as Vice President, we’d be leaving anyway, but this reinforces your protection.” Seth held the man’s stare, watching the way Fox’s jaw hardened.
“I don’t think—”
“The courts don’t always uphold those clauses. Companies rarely win when they try to enforce them, especially if the employee isn’t executive management. I have a staff of twenty people. How many of them do you think are top decision makers?”
Fox stayed quiet. Seth ignored the panicked voice in his head howling for him to shut the fuck up and accept Fox’s terms. This was about more than Seth. He couldn’t screw his employees in the deal.
The older man lifted his chin. “Two years. Just you and your brother.”
Fine, for one hundred mil, he and Dillon could find other ways to occupy their time for an extra twelve months. “Done.”
Stanton Fox rang through to his secretary to make the amendments in their Letter of Intent for Seth to sign today. The document outlined the terms and price he and Fox had agreed upon. Sure, it was non-binding, but Seth would make sure the changes were reflected in the Purchase Agreement. No changes, no final sale.
Fox ended his call. “We’ll move forward, begin the legal searches and documentation. Progress of the sale depends upon everything being in order, including no unforeseen obstacles arising between now and then, and especially noting those that would endanger the completion of the sale. Otherwise, Brooke-Porter is free to amend their asking price as stated in the Letter of Intent and the Purchase Agreement.”
“Your team won’t find any complications.” Seth’s company had five shareholders—him and his four brothers, including Dillon, with Seth holding the majority.
Stanton shuffled papers into a file. “We want to get that completed as quickly as possible. Four weeks at the maximum before we sign the Agreement.”
“That’s fast.” Not that he was complaining.
“One of our manufacturing partners in South Korea is keen to get your apps loaded onto their latest phone before its release.”
“Good to hear.” Seth allowed his pleasure to show with a smile. “Those apps will make a fortune for your bottom line, Stanton. I think we’ll both come out satisfied.” He lifted his chin. “You have an official statement ready to announce we’re in formal negotiations?”
The CEO held out a piece of paper. “Here it is. We emailed it to Dillon. Unfortunately, you’d already left for our meeting. He said you might have some suggestions.” Stanton waved a hand to the side. “I think the statement is fine as is.”
No doubt. Stanton Fox wasn’t the type of man who liked taking direction, especially from a twenty-nine-year-old ex-street kid.
“I’ll take a look.” Seth scanned the document. Everything seemed straightforward. Dates fit. Money correct. Broad terms as agreed. So what was Dillon concerned— Ah, now he saw it.
He dropped the sheet on Fox’s desk. “My family biography comes out. Stick with the facts.”
Stanton shrugged. “Playing up who adopted you and how you made it to the US adds a hint of celebrity to the announcement.”
“My brothers are private people. Their personal stories have no place in a joint company media release.” He lowered his voice as the CEO opened his mouth. “Take it out.”
Fox’s jaw firmed. Seth was prepared to wait him out as long as needed, but in the end, the older man backed down. “Your family business, your call. We’ll make that amendment and send out the announcement immediately.”
It was late on Wednesday afternoon, but in this age of digital media and a twenty-four hour news cycle, the tech news sites would spread the information in no time.
