handbook

While I commend Clef for releasing this publicly, I do agree that many of these policies are pointlessly rigid for a small company. In particular, the vacation and sick leave accrual seems unnecessarily draconian. If I get sick my third week week, can I not take the day off? Can I not take a week vacation in my 4th month? Honestly, I would never work for a company which is already enforcing micromanagement onto employees via HR software when the CEO knows everyone. Which is too bad, since i like the Clef founders. Netflix, with 200 times as many employees, manages to trust their employees a lot more than this. Policy here: https://github.com/clef/handbook/blob/master/Benefits%20and%...

https://github.com/clef/handbook/issues/69 https://github.com/clef/handbook/commit/4794bc93db32222855b4... https://github.com/clef/handbook/commit/d25a1e33adf93ad6bb89...

I also noticed they vest over six years, not four. Very unusual in my experience and means that they're effectively giving 0.6%, 0.15%/yr. https://github.com/clef/handbook/blob/master/Hiring%20Docume...

It's interesting that they offer people to take 0.1% more equity for a 5k reduction in salary. https://github.com/clef/handbook/blob/master/Employment%20Po... With a 6 year vesting schedule a new employee is 'buying' 0.1% worth of shares for 30k in salary. A 30MM valuation, or 5X the 6MM cap on the convertible note.

https://github.com/clef/handbook/blob/master/Employment%20Po... "we expect full-time employees to be at the Clef office between 45 and 50 hours a week""

They can do better - they explicitly list in another part of the handbook what every employee receives (https://github.com/clef/handbook/blob/master/Employment%20Po...): > Every employee will be offered 41,963 Clef stock options (~.9% of outstanding shares, including the option pool these are drawn from). As mentioned above, they can also choose to reduce their salary by $5k/year in exchange for 4,663 more options (totalling ~1% of outstanding shares). This is a genuinely impressive commitment to transparency.

The article now answers this, I believe: > You have 7 years to exercise your [ISOs] after you stop working at Clef, but by law the options only count as ISOs for 90 days after you stop working. Once those 90 days are up, the options count as non-qualified stock options https://github.com/clef/handbook/blob/master/Hiring%20Docume...

Thanks for the feedback! We just realized this document is actually out of date with our legal contracts. I've opened up a PR with the change here (https://github.com/clef/handbook/pull/56), though it may be 10 years rather than 7, so I'm waiting for confirmation from our CEO before merging :) EDIT: Our CEO's response was: "this is more complicated than just changing that number, give me some time to write the fully change up." Incoming! EDIT #2: Updated with the 7 year number and a more depth explanation :) - thanks @brennenHN!