As more start-ups turn to ICO's and protocol tokens, the classical approach to employee stock option agreements may no longer make sense. This is an attempt to create a new form of option agreement for employees at a start-up that completes an ICO.
Tokens and token offerings are a new approach to technology monetization. Attempting to build a business around a decentralized currency can prove challenging. Our motivation is to spark discussion around how start-ups can appropriately incentivize their employees if they take a token-issuance route. It is not clear that this model is optimal, but it is all we have so far.
Keep in mind this is a work in progress. Pull requests, forks and comments are encouraged.
This is based loosely on Bitaccess's original Employee stock option agreement, which is based on the laws of Ontario, Canada. If you are in the US/elsewhere, it might be a good idea to see if you need additional provisions
The default vesting period is set to 4 years, with an initial 1 year cliff.
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