HAQ — Strategic Advisor Equity Model

Assumptions

Enterprise locations added per year (cumulative builds across years)

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Per-location ACV $10,000

Series A revenue multiple 15.0×

Grant ceiling at 1,000 locations 6.0%

CRO operating grant (granted at Series A close)

Include 1.5% CRO grant

CRO grant size 1.5%

Series B liquidity (the financial-freedom lever)

Model a Series B secondary / tender

Secondary cap — % of vested units sold 30%

Series B valuation step-up vs Series A 2.5×

At current inputs

Cumulative locations

Contracted ARR

Implied valuation

Advisor all-in stake

Milestone ladder — performance grant

Five-year trajectory

Year-by-year detail

Year	Cumulative locations	ARR	Implied valuation	Vested grant %	Advisor paper value

Exit sensitivity — Advisor gross position

Exit valuation	@ 200 loc (~4.0%)	@ 500 loc (~5.7%)	@ 1,000 loc (7.5%)

Series B liquidity event

Bank cash without waiting for a terminal exit

Banked at Series B

Retained paper (rides to exit)

Illustrative only. Stake percentages are pre-dilution; actual ownership is reduced by the SAFE conversion ($1M @ $15M cap), the Series A primary round, and option-pool refresh. Profits-interest units convert 1:1 to RSUs/common at the C-corp flip. Not an offer, not legal or financial advice — definitive terms subject to board approval and counsel review.