Is this person going to be full or part time? If full time work out a salary + equity, if part time try to work out lesser equity only deal which will change once he comes on board full time (i.e. there should be some incentive for this person to come on board full time, if not figure out why not?).
Create and allocate a pool from which to hand out equity to employees, it's usually around 20% for future employees. Key employees vesting should typically be aligned with the founders.
How long have you guys been working on it? Have you taken a salary? Are you working on it part time/full time?
Also, speak to a good startup lawyer (yup, spend that money it will be well worth it) to structure this.
Comments
Is this person going to be full or part time? If full time work out a salary + equity, if part time try to work out lesser equity only deal which will change once he comes on board full time (i.e. there should be some incentive for this person to come on board full time, if not figure out why not?).
Create and allocate a pool from which to hand out equity to employees, it's usually around 20% for future employees. Key employees vesting should typically be aligned with the founders.
How long have you guys been working on it? Have you taken a salary? Are you working on it part time/full time?
Also, speak to a good startup lawyer (yup, spend that money it will be well worth it) to structure this.
Good luck!