I was hoping to read some real details instead of a simple paragraph and this tool. My opinion is that if you're a startup and you hire some people that don't get a share in the company, you're going to have to likely pay them a decent salary and not make promises of wealth one day. You'll also have to pay them more than you plan on paying yourself even if you're more qualified since you are getting more out of it if it succeeds.

I worked for someone that started a small company (we were 2), I was simply a contractor/employee. The problem was and why I left was that he treated me as an equal in terms of responsibility even tho I had no stake in the company.