Posted by diek 8 hours ago
-4% means nothing in context.
Sometimes a new employer will offer compensation for any loss of stock options and/or to indemnify against any claim for breach of contract or similar.
But it could also be that Mongo have simply agreed to release him - he was only there for 10 months, and might not have turned out to be a great fit. Their share price has been more or less level in that time whilst competitors have been rising so it's not as if he had notable immediate success in boosting their appeal to enterprise customers.
In fact, they seem to have gone out of their way to minimise any mention of him which, to me, suggests that it might have been worded that way based on legal advice rather than for PR reasons.
https://www.sec.gov/Archives/edgar/data/1441816/000162828025...
As far as I can tell, there is no notice period.
In US and English law, "specific performance", so a court ordering you to do what you promised, isn't available for personal service contracts. In the US that's reinforced by the 13th Amendment's ban on involuntary servitude. So even if a CEO signed a contract promising 6 months notice and a smooth handover, the company can't make them do it, they can only enforce any financial penalties that are contracted.
[1] Examples I found: Worksport Ltd., Exicure, Inc., Rainmaker Worldwide Inc., and Acorn Energy, Inc.
You're right though that the process in practice can be more fuzzy (e.g., you weren't looking, but heard of an attractive opportunity and then applied that way).
I worked at IMVU [1] so it was extra funny.