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by temp123aa
3907 days ago
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How is that protecting him if he has a cliff too?
I'm sincerely asking. I'm a total noob when it comes to lawyer stuff and I'm learning everything on the spot right now. In fact, I'm not signing anything until my lawyer approves. |
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A cliff generally protects shareholders against someone leaving with shares before spending a meaningful enough amount of time at the company to add value.
Imagine if you incorporated two years ago, and you started your cliff clock and vesting schedule then. Ask yourself and your co-founders: would it be fair to you to allow reverse vesting now, when your new CEO joined? To give up all your vested shares up to this point, and start from scratch with no vested shares and a new cliff?