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.

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