edinburgher
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I recently joined a start-up company. In the agreement, the CEO told me upon change in control, the unvested stocks can only be accelerated to 25%. For example, if the company is acquired in the second year, I can get the rest of the second year stocks accelerated but then get nothing for the 3rd or 4th year. His logic is because I do not contribute in the 3rd or 4th year so I should not be given any free stocks. It sounds reasonable initially but after a second thought, I found it contradictory. This acceleration schedule gives employees no incentive to work fast. Whoever can get the work done in two years would actually prefer to extend it to the third year. That way, he/she gets more stocks. Therefore, this schedule will create a lose-lose situation. Am I right? Does anyone know whether there are start-up companies using the above mentioned acceleration schedule? I heard that most companies offer 100% acceleration and this is definitely a big incentive.
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