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Must it? Not clear what you mean. Do you mean it is generic to do that in contracts? (Been a while since I was offered equity.) Or do you mean that even Open
by ecjhdnc2025 2y ago
Must it?
Not clear what you mean.
Do you mean it is generic to do that in contracts? (Been a while since I was offered equity.)
Or do you mean that even OpenAI would not try it without having set it up in the original contract? Because I hate to be the guy with the square brackets ;-)
- danielmarkbruce 2y agoIt must. Joke aside - I'm saying "it must" the same way someone might say "surely".
- ecjhdnc2025 2y agoWise. Stops people saying "and don't call me Shirley!"
- dmvdoug 2y agoDon’t call me Shirley.
- ajb 2y agoIf it wasn't in the original contracts for the equity, they wouldn't be able to claw back. Fairly obviously, the mechanism can't be in the exit agreement because you didn't sign that yet. Normally a company has to give you new "consideration" (which is the legal term for something of value) for you to want to sign an exit agreement - otherwise you can just not bother to sign. Usually this is extra compensation. In this case they are saying that they won't exercise some clause in an existing agreement that allows them to claw back.
- tsimionescu 2y agoPer the Vox article, it's not directly in the contract you sign for the equity, it's basically part of the definition of the equity itself (the articles of incorporation of the for-profit company) that OpenAI remains in full control of the equity in this way.