4. It is smart to have founders have their stock vest over time, so if you get into a founder dispute, and one or two leave...it is possible for the founders that stay on to have their work continue to be recognized by continued vesting of their stock, and that departed (and thus no longer contributing via personal effort) founder/shareholders cannot be excessively benefit from the remaining founder's activity by owning shares disproportionate to their continuing activity and commitment.

More than a few startups fail, by neglecting to consider the changes that may come in founder relationships. It is important to talk about departure consequenses.

You may find it enlightening to review a few Venture Capital blogs. Here are a few.

Sam Altman "Lessons Learned" - http://blog.samaltman.com/startup-advice

George Grellas - Startup Law 101 Series - Grellas Shah LLP - http://www.grellas.com/faq_business_startup.html

Mark Suster - Both Sides of the Table - Raising Venture Capital - http://www.bothsidesofthetable.com/pitching-a-vc/