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Angels, Dragons and Vultures: How to Tame Your Investors And Not Lose Your Company by Simon Acland

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CONVERSATIONS WITH A VULTURE (ON OPTIONS)

SCENE 1: ELIGIBILITY FOR OPTION SCHEME

“I won’t be able to recruit unless people can qualify for the option scheme immediately. Those options are a key part of the remuneration package and we need to get the pricing clock ticking.”

“Maybe that’s right,” concedes the Vulture, “with senior guys anyway. Are you just going to have senior guys in the scheme, or are you going to extend it to everyone, even the secretaries?”

“I like the idea of making everyone eligible. It would create more of a team spirit.”

“I don’t know about that. When the junior guys do the math they’ll work out how little their options will ever be worth, and that can be a real turn-off. They probably won’t understand what an option ...

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