I own a startup business that I started with my cousin. He is a web designer and I had no clue how that world worked. I gave him 25% to help me get it going, but I still paid him for his work. I gave him $3400 which was actually overpaying and he obviously hasn't invested a dime. Beyond this the project went 5 months past when it was supposed to be complete. Long story short, I need him gone and I don't want him to get another dime.
I talked with him a few days ago and broke the news. At first he said he would sign over his shares, then after "thinking about it" he wants a ridiculous buyout. I am wondering if there are any approaches to this that can assure he gets no additional money. Start a new company? License site/software to a company started by my wife?