[briffle]

Seems like as a shareholder (well, I guess potential share holder, since they are options) you should have some say in that.. Is it okay to dilute my shares by x%, in order to continue functioning as an employee..

Of course that kind of insight would lead to employees jumping ship when there is trouble...

[pjlegato]

You do have some say in that as a shareholder -- most companies are goverend by shareholder vote. However, as a startup employee, your total number of shares is insignificant compared to the number of shares held by the founders and the investors.