My observation from having worked for one startup is that there are tons of terms that have the form and appearance of laws and rules that indicate a law-abidin

My observation from having worked for one startup is that there are tons of terms that have the form and appearance of laws and rules that indicate a law-abiding situation. (I mean according to what the public would regard as law-abiding, in hiring, firing, pay, bonuses, profit sharing, etc.) But in fact it is not. They look like rules and laws, but are really just legalese cover for "CEO-does-whatever-he-wants". Such as dilute your value however he pleases when a deal comes around. I suppose in this case it's the VC's cover too. Interesting to see the CEO complaining that he's the one on the wrong end of the stick.