...last time they tried this emplyee stock option scheme, they ended up in a legal battle with the employees who took the bait. The company lost, but is still holding on to the money owed to the employees. I bet that will inspire many to go for a paycut in return for stock options in a company heading for bancruptcy (maybe)? Fool me once, shame on you. Fool me twice, shame on me!
The new deal is ok. Especially the part about working 13 days less per year ;-)