When Silver Lake took Skype over in 2009, they created a briefing for employees that spelled out exactly what would happen to their stock options if they quit early.
Kara Swisher at AllThingsD has the proof in the form of a slide deck containing the following very clear language:
“Bad Leaver”: someone who resigns, or is fired for “Cause”
* Skype buys back their options at the lower of fair-market value or strike price
* This provision lapses post-IPO
It doesn’t get much clearer than that.
It’s certainly possible that Yee Lee — the employee who complained about getting screwed — never got this briefing, since he started after the takeover. But at least it shows that Silver Lake wasn’t hiding some deep dark secret from all Skype employees.
Swisher posted the whole presentation on DocStoc — see for yourself.
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