I run an early stage startup and I have my first employee coming on who's working for peanuts. I want to do right by him and give him a chunk of equity but don't have the $'s to make him an official employee where I suspect I'll have to deal with health benefits, payroll, etc.
How though, can I put in writing that as of x date, he starts a 4 year vest of x% of outstanding shares in a way that's official and should sh*t hit the fan, he has something in his hand that he can point to and get what he deserves for getting in early when there was (is) a lot of risk?
How though, can I put in writing that as of x date, he starts a 4 year vest of x% of outstanding shares in a way that's official and should sh*t hit the fan, he has something in his hand that he can point to and get what he deserves for getting in early when there was (is) a lot of risk?