This is your periodic reminder that, if you have people who depend on you or causes that you support, 10 year term-life insurance is a product which is easy to buy when you are young and healthy and very inexpensive. Got married? Had a kid? Add a new policy on top of old one.
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1) We're going to repurchase your unvested options. 2) The vesting clock stops at death; we don't accelerate vesting. 3) Normally, you would have X time to purchase options, but in event of death (or maybe severe disability), your heirs have Y, which is materially longer.
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Note that most people with options that are worth material amounts of money or would cost a material amount of money to exercise will also be covered by employer-provided life insurance, which is a standard US tech industry perk for companies old enough to have HR folks.
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Right, as someone who has never seen a contract from a bay area tech startup, I was wondering what such contracts normally had to say about such a situation.
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