I don't get the confusion over an appointed officer not entering an employment agreement right away.
These guys in particular are trying to become the next billionaires, not earn a paltry salary or wage!
Let me put it this way. If this is a start-up and no big excess of money is yet rolling in, then what do you expect or hope for them to do? Eat their seed money, their only working capital?? Or better yet, to sell boatloads of shares to pay them as employees??? These aren't employees - they are entrepreneurs. And as such, they are likely willing to work for nothing until the business hopefully explodes - at which time they are rewarded big and accordingly. I know it's hard for those with an employee mentality to grasp, but it's called delayed gratification, and it's just what entrepreneurs do.
