Part-Time CTO Salary Denied by Board
I have been working as a part time CTO and co-founder in a 3 years old startup. At the start of the startup, a money injection of about 40,000 USD has been injected by both co-founders (CTO and CEO), thus making a 80,000 USD initial startup capital. Fast forward to recent days, the startup has recently gotten more than 2,000,000 USD in seed funding and VC investment. Since the start, the CTO has never got any monthly salary or any sort of compensation. The VC has demanded the CTO to join the company on full-time bases and established a plan with deadline for CTO full-time commitment. Now, the CTO has demanded to be paid part-time monthly salary until he becomes available on full-time bases, but the board (CEO and 1 VC seat) has rejected to pay the CTO and requested the CTO to continue to work for free until the CTO is available on full-time bases. What would you do if you are in my case, as a CTO being requested to work for free with much higher expectations from the board and as the company rapidly scaling up and in great need for solid CTO role?
Note: both CTO and CEO are shareholder.