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What's up with the 7 year exercise window? All contracts I've seen lately have adopted the modern 10 year window. Bonus to cover exercise + 83b is also now mo
by choppaface 6y ago
What's up with the 7 year exercise window? All contracts I've seen lately have adopted the modern 10 year window. Bonus to cover exercise + 83b is also now more common for non-execs now. 7 years sounds like they chose something less than the max intentionally.
Furthermore, 6 months severance is on the lighter side for 3yrs of service in cases where the company did something remotely controversial. Setting the aside the issue of allowing politics at the workplace or not, actual implementation of the policing invites all sorts of non-standard harassment and first amendment claims. Any of the lawyers in the Bay Area who helped Uber employees negotiate severance could likely get a deal like this doubled, especially if the employee is a manager or senior-level. While 6 months of salary is nothing to scoff at, there's a time and a place for major company ideology changes and COVID is not the time to make employees worry about their employment.
- bananaface 6y agoHow would a lawyer negotiate this up? They aren't firing people, they're just offering people to option to leave. Do employees here have any legal leverage?
- choppaface 6y agoNo leverage through the offer or blog post itself, but if they have evidence of harassment or other misconduct, and screenshots from Slack, then it's more likely for a potential claim to result in additional severance versus any sort of litigation, especially since Coinbase is now inviting departures and inevitable conflict. Being an adversarial employee when working on an exit package certainly is FAR from necessary, but it's also not at all necessary to put people out of a job during COVID due to _culture changes_.
- woah 6y agoIs there any evidence of harassment or people being put out of a job?
- xyzzy_plugh 6y agoThere won't be if everyone takes the exit package.
- detaro 6y agoI'm not sure "major company ideology change" is accurate here. From what I've seen, it looks to me as if the CEO is doubling down on his previous stance after being pressured about changing it recently.