I never said it was common, but I have heard of it. IIRC, the CEO of the storage startup I worked for a few years ago had this type of arrangement. As to your second point, believe what you want. But I've seen some creative compensation in my time in this industry. I would imagine you've seen even more than me, so I don't understand the incredulity. And as for the difference, maybe it is minor to you, but it appears to be rather significant to me. A definite ownership stake (equity) vs. the right to obtain an ownership stake (options). These are hardly identical.
The answer to the question is you write it into the contract that you vest immediately in case of termination, whether for cause (your screw-up) or not (they fire you). 100% vesting upon termination of employment for any reason is very popular with most of the tech execs I know. You probably should have taken a higher salary too though. Or better yet, instead of options (which need to vest to be usable), you should have negotiated a small piece of equity, even 0.5%. As employee #1, you could have negotiated founder's equity had you played your cards right. Or even a package deal - salary for the base work with a small piece of equity on the side, and some options as a sweetener.
I plan to go with them. 40 GB/month transfer. You provide the box. $50/month is the quote I got. They're in Laurel, MD and founded by Doug Humphrey of Digex fame. I plan to stick a 1U Sun box in there and call it a day. Towers are a little more.
"3.Any kernel that hasn't been tested...
Ok I'll give you that. Kernels should have a standard subsystem test suite applied. Hmm...
I think I'll go outline one. Glad I thought of the idea. Maybe I could even make a buck off this..."
Better minds have long beat you to this one...
http://ltp.sourceforge.net/
Unless you can do better than SGI, IBM, Bull and the OSDL.
Slashdot Mirror
I never said it was common, but I have heard of it. IIRC, the CEO of the storage startup I worked for a few years ago had this type of arrangement. As to your second point, believe what you want. But I've seen some creative compensation in my time in this industry. I would imagine you've seen even more than me, so I don't understand the incredulity. And as for the difference, maybe it is minor to you, but it appears to be rather significant to me. A definite ownership stake (equity) vs. the right to obtain an ownership stake (options). These are hardly identical.
The answer to the question is you write it into the contract that you vest immediately in case of termination, whether for cause (your screw-up) or not (they fire you). 100% vesting upon termination of employment for any reason is very popular with most of the tech execs I know. You probably should have taken a higher salary too though. Or better yet, instead of options (which need to vest to be usable), you should have negotiated a small piece of equity, even 0.5%. As employee #1, you could have negotiated founder's equity had you played your cards right. Or even a package deal - salary for the base work with a small piece of equity on the side, and some options as a sweetener.
http://www.coloco.com
I plan to go with them. 40 GB/month transfer.
You provide the box. $50/month is the quote I
got. They're in Laurel, MD and founded by
Doug Humphrey of Digex fame. I plan to stick a
1U Sun box in there and call it a day. Towers
are a little more.
You said:
"3.Any kernel that hasn't been tested...
Ok I'll give you that. Kernels should have a standard subsystem test suite applied. Hmm...
I think I'll go outline one. Glad I thought of the idea. Maybe I could even make a buck off this..."
Better minds have long beat you to this one...
http://ltp.sourceforge.net/
Unless you can do better than SGI, IBM, Bull and the OSDL.