My Employer has Offered me stock options

[Baylor3217]

I'm not sure how this works given that the company is not publicly traded so looking for some expertise from the board.

The short version is I've been granted 5,000 options at $0.001 that vests 100% 5 years from now so I don't vest anything for the next couple of years until the 5 year anniversary arrives.

Given that the company is private and I don't believe has any intentions of going public, what would these options entitle me to over time?

btw, there's about a 40 page document I have to sign with a ton of legalese that means basically nothing to me.  My HR department is incompetent, but I plan to ask a few questions regardless.

Assuming the document to be signed is pretty boiler plate, is there any reason I should be concerned about signing it?  Should I have a lawyer look it over?

TIA

[pac_NW]

I recommend the book Know Your Options by Kaye Thomas. Check out his website too. Talk me much of what I needed to know about stock options. Interesting that your grant is not a 4 year vesting schedule, which is most common.

[Indio]

If the company you work for isnt going public, it might be acquired by another comp that is public and then those options would likely vest or be traded for stock in the acquirer.
Definitely read the fine print to find out the details. If this stock option plan is new for your comp, try to get them to tie the vesting schedule to performance. Ive heard of employees selling options to a venture capital firm that i wanted an equity stake but the comp didnt need the VC money so this was a backdoor way in.
Your comp must consider you a valuable employee if tbey want to make sure you stay the net 5 years.