Quote from: bitcoin.me on October 19, 2012, 01:37:00 PM

Not entirely true...

Quote

May 26th shareholder meeting

Motions passed.

An allocation of $40,000 USD as salary for Nefario to cover 12
months starting in May 2012.

The trouble was there was no formal employment contract drawn up specifying performance. It was basically a slush fund.

That's a shareholder motion, not a contract with Nefario.

Quote from: SebastianJu on October 19, 2012, 02:07:19 PM

$3333... thats nuts to agree. Did nefario had the majority of shares and won the motion by voting for it himself? Anyway... what kind of business ethics comes to light here.

He has about 25% of shares, so it wasn't too difficult for him to pass crazy motions like that.

He was actually originally asking for many more shares plus a monthly salary. I and a few others convinced him to accept just a slightly larger salary than what he was asking for and no extra shares. GLBSE was running pretty smoothly at the time, so while I thought this was a bad move, I didn't argue too hard against it.