What happens when employees leave depends on whether they’re a ‘good leaver’ or a ‘bad leaver’ – at least when it comes to employee equity. Leaver clauses are set out in shareholder agreements. Typically, ‘bad leavers’ exit the company without the chance to retain or convert their options. Good leavers, on the other hand, will retain their vested options and any unvested options can be purchased for a nominal fee.