> a 10-year expiration means your cap table is in flux for 10 years, potentially, which makes calculations, acquisitions, etc, tougher I don't agree at all. T

> a 10-year expiration means your cap table is in flux for 10 years, potentially, which makes calculations, acquisitions, etc, tougher I don't agree at all. The primary effect of a longer exercise window is in not returning expired options hastily to the pool. Otherwise what's the difference if the employee continues to be an employee and doesn't yet-- ceteris paribus--need to exercise or forfeit. Why do you suggest unexercised options of any stripe muddy the waters? If the option is worth anything at all it will be exercised at a liquidity event.