Operational convertible debt held by departing co-founders requires formal conversion or forgiveness to prevent sudden tax liabilities and cap table encumbrances.
Six fields, each writing its own terms
The terms are written where they belong. Each field holds three desks, and every entry a desk writes raises the terms it uses, each term given a meaning, a mechanism and the places it appears. The record on these pages stays first person and hand made; the fields grow the nomenclature.
