Is it common for a founder leaving a (pretty young) startup to sign shares proxy if he hold over 10% of the shares, so he won't screw / hold back the company when he's gone (investors see this as bad sign and if unavailable can hold back decisions).
What are the risks in that? Is there a legal difference between signing shares proxy and replacing them with non-voting shares, as an alternative? Are non-voting shares less risky than giving proxy?
Please no replies in the form of "why would you even sign it - F' them!", because I do want the company to succeed and stay on good terms with them, and I have no intentions to actually interfere in the company's future decisions since I won't be an active founder.
I just want to make sure I'm covered and won't lose my rightful share in the event of an exit or company turning profitable.
Thanks,
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