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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.69

+0.4%

Jan 21 3:59 PM EST

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To: GVTucker who wrote (64086)	5/18/2003 12:27:29 AM
From: Lizzie Tudor	Read Replies (1) of 77400

I was thinking that companies could essentially promise to give an employee stock based on some "deliverable" which conveniently has a due date in 4 years with milestones at the yearly mark or something. So no vesting per se but create an artificial vesting period. There is one significant problem with this- a lot of SV companies in the early 90s tried to cheat key engrs out of options, by hiring them with some outstanding options package and conveniently firing them a month before vest or something. This was so common a bunch of laws were enacted so that employees can almost always sue for unvested stock ... some key lawsuits happened and the fraud stopped. The problem with "promising" employees stock is it seems totally unbinding, thats a little troublesome.

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