 deferred compensation structures, pre-funded startup
ScottWhigham: IANAL so beware what I say.Question: how legal savvy are you? You can write or find generic no-frills stuff yourself that can do in a pinch for small shares. Your "brief statement of understanding" is helpful - you can simply formalize that more.I don't think you should/need to put a "monetary value on hours spent" - you're giving shares of equity and both parties agree to the deal. What else is there to say?Words of advice:* Vest whenever possible* Give them as little as you can now so that you can attract them later to come on full-time (if that's what you want)Good luck!