- If you vest, what metrics determine if your vesting stops? Can they do it arbitrarily, etc
- what if you finish your work in less than 1000 hours?
- you should have some benefit if you finish the work and then continue with the company.
- Does the 5% already have a value? In which case, if you get your stock up front you might have a tax implication.
- whats your anti-dilution rights? You should have the opportunity to participate pro-rata in any dilutive event (eg. a fundraising)
- the other founders should have a non-compete (so they cant sell the assets to a brand new company)
- if vesting, they should vest immediately on any change of control
- what if your responsibilities change so you are not doing development but some other work (biz dev, sales, etc.
- i would do basic due diligence on founder and current investors. background checks, etc.
- what does "5%" mean? Do they have an option pool set aside already? Can they issue arbitrarily more options?
If you have any questions on these I'll check back and answer.