If your company is acquired for stock, as was Netscape, then any gains up until the acquisition--but not additional gains (which Andreessen didn't have on this particular block of AOL)--will continue to qualify for rollover treatment whenyou sell off the acquirer's stock.
"People with past or present relations with the company hardly qualify as independent, but that is exactly what you find whenyou look more closely at the nonexecutive directors at many companies, " says Kapitan.