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Yeah, we did everything through Clerky which is recommended in the Y Combinator lecture I mentioned ( http://www.dol.gov/whd/regs/compliance/fairpay/fs17b_execu

• smt88 12y ago
  (I'm not a lawyer. None of the following is legal advice.) 1. YC is not gospel, and (by definition) none of their companies are bootstrapped. That means their experience and advice aren't necessarily targeted at people like you. 2. Clerky isn't a substitute for a real lawyer. You and your co-founders might have needs/preferences that aren't represented by a "fill-in-the-blank" document. 3. Clerky is YC-backed, so the recommendation to use Clerky should be taken with a grain of salt. I can't stress this enough: talk to an experienced, real-life startup lawyer. There is no substitute. I know that seems old-fashioned or inefficient to our crowd, but I've learned the hard way on several occasions that you shouldn't do your own legal work. The cost of getting a professional to do it is so low that it's a no-brainer. Related to the law you mentioned: it doesn't matter what the vesting schedule is. 20% is 20%. Furthermore, the law is similar to the internship law. Someone has to feel wronged and then report you to the govt or sue you in order for it to be a problem. Basically the law is trying to protect early employees from being exploited. It's not really targeting founders. Of course, you should verify those statements with a lawyer, as I might be wrong.