I was reborn and stayed in school to lie down. I really don’t want to roll anymore!

When Xie Lei was brought to the Human Resources Department, Zhang Jing, the current manager of the Human Resources Department, looked quite curious.

When Jiang Hao personally interviewed Xie Lei and heard that it was the position of R&D manager, he was extremely enthusiastic about it.

After coming out of the Human Resources Department, Jiang Hao also took a quick look around the company.

There are now many new faces in the company, and the total number of people has reached about 60.

It is expected that another 40 people will be recruited to reach the planned scale of about 100 people.

Longmao Live currently has a relatively high salary level for recruiting employees, and its recruitment requirements are naturally much higher than those during the angel round.

During the angel round, their company had almost no educational requirements, but now they have unknowingly raised the requirement to junior college or above.

It’s not that Jiang Hao discriminates against people with low education, such as those with junior high school or high school education.

In fact, several developers in the angel round who only have junior high school and high school education have decent working abilities.

But Jiang Hao still has to pave the way for subsequent rounds of financing, so the overall quality of the company's employees cannot be too low.

Otherwise it will not look good on paper and will affect the valuation of the company.

When he returned to the office, Chen Peng had come back and sat opposite him.

"Old Chen, how many people do you need to recruit to complete the technical departments under you?"

“The positions of several managers and deputy managers have not yet been decided.”

“Although the number of ordinary developers has not yet reached the number that the company planned to recruit, I think it is enough to carry out the next business.”

Chen Peng still looked the same as when he saw him last year. He was very calm and composed, with little change in his mood.

The only time Jiang Hao saw him excited was the night the website was launched.

"For the time being, the company still has to rely on the two of us to support it. Please help me take care of it."

Chen Peng, the technical director, is currently serving as the company's vice president.

In the future, when the real CEO is confirmed, some of Chen Peng’s administrative work, including Jiang Hao’s own work, will be transferred to the new CEO.

Chen Peng's job will completely shift to CTO, which means chief technology officer, and he will truly serve as technical director.

Except for the rather urgent position of Chief Financial Officer, the company currently does not need any urgent needs for other senior executives.

As long as all the structures are finalized before the B round of financing, it will be fine.

"Boss Jiang, don't worry. If there is anything difficult in the company, I will inform you as soon as possible."

With the calmer Old Chen around, Jiang Hao nodded with relief.

As he spoke, he picked up the document that had been prepared long ago from the left side of the desk and handed it to Chen Peng.

It's still early today, so I thought I'd take this opportunity to implement what I discussed with the old employee team some time ago.

"Here, this is the option I promised you. Take a look and see if you are satisfied with it."

I mentioned the issue of options when I was communicating with Chen Peng some time ago about his promotion and future development direction.

Jiang Hao had naturally anticipated and planned for this matter. The company's option pool had already been set up, so this matter would definitely be pushed forward.

The document given to Chen Peng did not contain much content, and could be summarized in just one sentence.

That is, before the company's IPO, Chen Peng had the right to purchase 16.7% of the company's shares at an agreed price of 1 yuan per share.

The option shares will be diluted as the company raises funds, and if the employee leaves midway, they will be repurchased at 4/5 of the current round's agreed price.

The so-called options actually refer to the right to reap benefits in the future.

In essence, it means that before the company goes public, you can buy the company's stock at a price far below the market price, which is the so-called agreed price, and cash out on the stock market after the listing.

This is also the reason why many companies’ senior management teams or old employees become rich collectively once they go public.

Even the large flats in the surrounding properties of the listed company may be sold out at the same time and purchased by the company's employees who are cashing out.

Of course, some companies give stocks directly, but options have one advantage over stocks.

Stocks require you to invest money now, but options do not require you to actually invest money now.

All you have to do is pay for the shares you want to buy before the company actually goes public, within the maximum number of shares you are allowed to buy.

That’s right, if you want options to become real equity, you also need to purchase them with your own money.

In fact, for the first part of options, before the A round, Jiang Hao needed to determine the shares for the company's management team and core employees.

After all, the capital party in Round A will not be willing to give up the possibility of diluting the equity of the founding team in each round.

However, Jiang Hao promised to take out 10% of the equity in his hands after financing, which was equivalent to the diluted equity, which made the investors have no objection.

Chen Peng is currently the company’s first technical executive and the most important pioneer of Totoro Live.

Based on the current total share capital of 300 million shares of Totoro Company, the option price allocated to him is actually calculated based on the company's valuation of 5000 million.

And these are just the options before Round B. After each round of financing, new option shares will be given to the executive team until the option pool is completely divided.

Seeing Chen Peng in front of him not hesitating and preparing to sign directly after scanning the option shares, Jiang Hao couldn't help but stop him.

"Old Chen, you'd better think about this option issue carefully. Don't rush to make a decision. Just sign it for me within this month when you have figured it out."

"Boss Jiang, what's there to think about?"

Chen Peng found Jiang Hao's suggestion that he should think more about it a little strange.

"Lao Chen, you are one of the earliest founders who started Totoro Live with me. You are the one I trust the most in the company."

"I will only tell you this once today about our company."

"To be honest, I'm not that optimistic that our company can go public."

"Between high salary and stock options, you should weigh which option is more advantageous."

Jiang Hao only said this to Chen Peng.

If it were the other ten or so old employees, he wouldn't say much.

As for Chen Peng, Jiang Hao's initial consideration was actually to give Chen something practical, mainly a salary increase.

The basic monthly salary has increased to 3.5, and various corresponding subsidies and bonuses, including year-end bonuses, will increase accordingly with the basic salary.

It is estimated that the all-inclusive annual salary before tax is 50 to 60 yuan, but with the current basic salary of 2 yuan, the annual income is actually only around 30 yuan, which is equivalent to doubling his salary.

Of course, a high salary increase would naturally require a reduction in option grants, but Jiang Hao still reserved 0.5% of options for him.

Jiang Hao just gave special consideration to Chen Peng, who was really the technical expert who worked with him the earliest. Even if the company failed in the future, at least he would still have a high income that could be put into practice.

However, when I discussed the option intention with Chen Peng before, he meant that his salary did not need to change, he just wanted to have more option shares.

Therefore, the option value of the contract given to Chen Peng today reaches 1%, while the salary remains unchanged.

If the company really cannot go public in the future and Chen Peng really chooses to resign midway, the repurchase price of the options will actually be less than what he would get after several rounds of salary increases.