Executive in Residence Program

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Economic Considerations

The goal of the Plug and Play EIR Program is to serve the needs of the startup, as well as fairly compensate the EIR as well as Plug and Play. We will achieve this through the following arrangements:

In a transaction involving consulting, mentoring, or advising, Plug and Play will have a revenue share of 20% with the executive, paid either in cash or shares.
In a transaction involving the executive joining the startup as a permanent co-founder or manager, the executive's employment placement will be coursed through Plug and Play's Talent Acquisition division, which takes a 15% of annual salary commission from the startup.
In addition to #2 and if applicable, Plug and Play would also take a 5% share of any remuneration in the form of shares.

The Plug and Play EIR Program offers a physical office space for the executive inside the Sunnyvale campus. A normal lease will be signed by the executive with Plug and Play Tech Center for $500/month/ cube. This lease does not include ancillary expenses such as Internet connection and telephone.

Note: Rates do not apply to VC and Corporate sponsored EIRs.

Both Plug and Play and the EIR reserve the right to back out and separate from this relationship during the 3-month trial period, without any obligation to any party, at any time.

If the EIR agrees on the above arrangements, a formal lease, contract, and confidentiality agreement would be prepared and executed accordingly.