10 ms·

What is the legal mechanism for taking some of your employees property?

• jacquesm 5y ago
  Yes if there was a clawback clause that could be triggered for some excuse, and presumably there was. For instance: you left the company. Depending on the clause you could be forced to sell back to the company at the issuing price or the fair market price on the day that you left.
  • gkop 5y ago
    A clawback on vested is nuts. I’d be shocked to see that in boilerplate.
    • jacquesm 5y ago
      I've seen it and I've advised someone to get it struck which it was and another where it wasn't so they left that company.
  • foobiekr 5y ago
    It was NOT in our boilerplate. The discussion around this was his “secret sauce” concept. It was ridiculous and we turned it down. They were big investors in a few very high flying super flops in the 2010s. It has always made me wonder if the employees at those companies would have been screwed had the companies been everything the tech press ckaimed they were.