Still trying to get the LOI signed and I've been asked to provide a "Breakdown of WC, inventory, salary & perks for the owner, terms of earn out, non-compete after termination, etc", I have more than 15 years of Corp Dev experience buying (and selling) company's both large and small, single owner, VC funded and public and I can definitely say I have never been asked to provide this much detail this early in the discussion. I've offered a competitive price with both a seller note and an earn out plus equity and board seat. Now the guy want's a salary and perks!! Doesn't her realize the company still has to make money??!!
Anybody run into this before (the detail request not so much the greed one). If so how did you handle it?