- Once employees leave the company they can hold on to the stock they have vested. This makes little sense as they continue to benefit from growth without being involved.
I've worked in a technical role in several startups. Were I looking for a job, the above sentences would immediately disqualify you and your company as a potential employer for me.
Current startup stock option plans rarely pay out to startup employees. And even when the startup is successful, sometimes executives and investors will find out ways to ensure ordinary employees don't get their payout (e.g. Zynga, Skype).
So trying to figure out how to tilt option plans even more in favor of investors and employers is only going to sabotage your chance to hire the talent you need. Not just because of the details of the plan, but because potential hires are going to assume that an employer who's passionate about employees not getting "too much" is likely to find ways to claw back employee equity in the unlikely case that the company is successful.
I'd suggest instead taking a page from Pinterest, and look for ways to make your stock option plan more appealing to potential hires, not less: