[msuster]

that is EXACTLY what happened in the situation I described. We hadn't yet signed the term sheet. So I told the CEO that I would understand if he went with the other firm. But that I personally couldn't be involved with the deal for reasons I described. Until a CEO has signed the term sheet (or gives you an email saying they will) I assume they are still negotiating with others.

[edanm]

I'm mostly interested in whether you would hold it against the CEO for asking your opinion on the matter. It sounds like you might be implying that the CEO shouldn't even be considering the decision, whereas I would assume a CEO working with you would want to feel like he can be open with you about his/her dilemmas.

Of course I might be really misreading here.