They should option the VD proprety!

• Couple of millions upfront (e.g. 10M-20M)
• Clear yearly milestones with predetermined budgets
• Partner gets (e.g. 70%-75%) for free if in production next (e.g. 5 years)
• We could also get a carried-interest to production 

If the partner does not meet the yearly obligations, we get 100% back and some progress will have been made.

If the partner meets the obligations, we have a great cash cow in 5 years and our SP should appreciate accordingly.

MoneyK