Bait or boon: The good, the bad and the ugly of startup employee stock option schemes

WHEN Zoe's (not her real name) employer wrote to her to offer her shares in the early-stage startup she worked for, she felt appreciated and valued. It was just words in an e-mail with a couple of lines; the terms stated were not clear, and in no way resembling a contract or formal agreement she could endorse.

A contract was promised, however, and so she responded to accept the shares with thanks. She says she decided to leave it at their assurance, trusting them to deal in good faith - besides, how does one press their bosses about matters like this when one still reports to them, is paid by them and has their performance rated by them?

Unfortunately, a few years down the road, the company "decided they no longer found (her) useful", and her worst fears materialised. She saw nothing of what her bosses had originally said - about how much they valued her contributions, for instance - translated into action.