How do I as an employee structure an agreement to include a buyback if I choose?

New / Eng
praReegar

New Eng

praReegar
5d 1 Comment

Hi Everyone,

I have been at a startup for some time and I think I am an important person in the startup. The options that have vested are a lot and even with the low strike price, I would have difficulty exercising them.

I am currently renegotiating my new comp/options at the company. And I want to include some language in a contract to give me the means to buy the options. I would ideally want sometime like this:

Just before the next round or 2 years - whichever is sooner, I want one of these points included
- The bonus of an amount required to exercise all the options + pay taxes, or
- Buyback up to 10% of the vested stocks (including unexercised options) -- if I want to

I spoke with my company, they said they will consider it if it is a standard legal language. Standard or not, does anyone know if something like this is possible in a legal document? Any related experience?

Who should I speak to, to understand more about how to include these points? Like a startup law firm/guru? #equity #startup #offer

comments

Want to comment? LOG IN or SIGN UP
TOP 1 Comment
  • If they had cash, they wouldn’t need to pay you with options.

    Why would they want to come up with a scarce resource to make it easier for you to walk away?

    Investors certainly don’t want their money spent that way.

    They will string you along, then come up with an excuse why they can’t do it.
    5d 0