[tptacek]

What a shitty situation. But why, oh why, would you sell your house and move from Houston to California before the check cleared? We started Matasano when my kids were pre-K and a a full-day every-day handful, and I had to spend a couple months away from my family while we worked out the move (mine from Ann Arbor to Chicago). I know I'm not the only founder to deal with that situation. Was there some additional circumstance involved here, some other pitfall people should be on the lookout for?

[RuggeroAltair]

I know directly of one case in which one of the terms of the acquisition was that in case of the founder's death within the retention plan, his family wouldn't get the remaining part of the money (which would be given at the end of the retention plan only if he was still alive). This founder, rightly so, thought that it was an awful concept, since his kids needed to be protected exactly in the case of his death. The purchaser said they would have not changed the contract since that was a standard clause and that it was unconceivable to consider changing it. The startup called everything off the day before the deal (even after it was announced), because of this.

The clause that was impossible to make disappear suddenly disappeared overnight.

P.S. Congrats for Matasano, I am a fan of your company.

[danielweber]

was a standard clause and that it was unconceivable to consider changing it

The clause that was impossible to make disappear suddenly disappeared overnight

Oh, if I had a nickel.

Younger readers (and older ones, too) should be aware that this is one of the easiest lies to slip from someone's lips: "oh, that's standard, we can't get rid of it."

You need someone experienced on your team -- even if not working for you, a friend you can call -- to find out just how "standard" these things are.

EDIT: even terms that really and honestly are "standard" can be changed