Hey all - long time lurker here and this time need your help with something. I recently got an offer for a new VC fund and was promised carry as part of the compensation package. My job title is Director of Investment but for all intensive purposes think of it as senior associate / VP level.
I wanted to compare language on the actual employment contract regarding carried interest language. We did not discuss a fixed % right now since they are still working on the structure even for themselves.
"The Employee may be entitled to carried interest and the relevant details will be subject to other relevant document(s) to be provided by the Company or its affiliate in its sole and absolute discretion. The Company or its affiliate reserves the right to change the bonus and other incentive arrangements at any time in its sole and absolute discretion."
Language seems extremely loose and I'm not a huge fan of the "sole and absolute" part but probably not much I can do to push back on that. Could any of you share a similar provision from your employment contract? Feel free to PM me directly or redact anything sensitive.