All this kind of stuff is becoming a lot more common.
4-5 years ago, vested options were vested options. You always got them. The only issue was if you could afford the strike price.
Today, more and more often, you see a variety of buy-back or similar clauses, whether for bad actor behavior, or for “at market” pricing for co-founders, etc.
I’m not sure how I feel about these clauses. On the one hand, I’ve seen them arguably abused by companies in some cases. On the other hand, they also make a lot of sense. They are much more common in the Private Equity worlds than venture. And I like the idea that if founders bail, you can address that scenario in a more equitable fashion.
