3 ms·
I wonder how their offer letter / contract looks like. Section 3. Termination Bla bla bla if you're fired for whatever reason, you'll get $30M.
by wiradikusuma 4y ago
I wonder how their offer letter / contract looks like.
Section 3. Termination
Bla bla bla if you're fired for whatever reason, you'll get $30M.
- soumyadeb 4y agoIf you are fired, all your options will vest immediately. Additional money payment at exec level too.
- raverbashing 4y agoI think there might have been a clause about change of ownership as well
- refurb 4y agoUsually it's that kind of clause (change in ownership). Basically all equity grants immediately vest, even the ones you got last week that would normally vest over 4 years. It's a great deal.
- sokoloff 4y agoMany are double trigger. (Change of ownership AND getting fired within X time as an example.)
- mattficke 4y agoYou can find the details of executive severance plans in the SEC filings of public companies, they make for fascinating reading. Typically accelerated vesting of all equity, 12-ish months salary, extension of other benefits like health insurance. It’s also usually guaranteed in their employment contract if they’re terminated for any reason other than just cause (basically everything other than committing fraud or harassing employees).
- snake_doc 4y agoOffer letters are public information for chief executives: Agrawal’s CEO offer letter: https://www.bamsec.com/filing/119312521342255/2?cik=1418091 https://www.bamsec.com/filing/119312521342255/2?cik=1418091 An involuntary termination contract: https://www.bamsec.com/filing/156459018003046/2?cik=1418091 https://www.bamsec.com/filing/156459018003046/2?cik=1418091