Any reason not to invest in EMI options?

[Janosh]

I am starting a new job and will soon be eligible for a round of investment. This is a first for me so I wonder if there is any reason not to invest the maximum available (assuming that I can afford to do so)?

The business is growing and plans to make an IPO in the next 2-3 years.

[bga]

Off the top of my head a few q's you could be asking:

1. What happens in the case of exit events (you leave, are sacked, made redundant)?
2. What are the vesting conditions? (IPO, sale etc)
3. When do the options mature and what conditions are attached?

[Janosh]

Thanks bga, I've got some homework to do as although I understand your points I'm in no way clued up on the potential pitfalls.