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Entrepreneurship
by tj on June 13, 2005
Brad Feld offers very good advice on how to compensate board members:
- "Allow any board member to buy into the last VC round.Very helpful!
- Option grant vesting annually over four years that is equivalent to what a director/VP (not SVP/COO) level employee would get. This is typically 0.5% - 1% depending on the stage of the company (so 0.125% to 0.25% per year).
- Full acceleration on change of control (single trigger) - FYI - this is the ONLY time I'll give single trigger (except in certain founder cases).
- 90 day exercise period if you leave the board. Sometimes I'll extend this to a year, but I like this to be the same that employees get.
- No cash renumeration.
- Travel expenses covered."
Permalink: Compensation advice for board members
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