Startup Employees Invoke Obscure Law to Open Up Books
Interesting. My options agreement has a clause called "Waiver of Statutory Information Rights" in which I waive my inspection rights of the company stock ledger, a list of its stockholders, and its other books and records, and the books and records of subsidiaries of the Company provided under Section 220 of General Corporation Law of Delaware until the first sale of common stock to the public.Is this waiver clause enforceable?EDIT: Let this be a lesson folks! Always have an attorney review your options grant contract.