Startups should move to the 5 year exercise window. We've made this change at Ockam. Here's a list of companies with extended exercise windows<p><a href="https://github.com/holman/extended-exercise-windows" rel="nofollow">https://github.com/holman/extended-exercise-windows</a>
FYI to stock option noobs: 83(b) Election: is a provision under the Internal Revenue Code (IRC) that gives an employee, or startup founder, the option to pay taxes on the total fair market value of restricted stock at the time of granting.<p>During this election you pay for your shares at the beginning (usually the cheapest strike price you will ever get). This lets you take advantage of capital gains rates. Do this! I also advise exercising if you have a 90 day window if the company has any type of profit or product, remember! you do not have to exercise 100%!