I am the primary founder of my start up. We have just received our first influx of capital. My current employer feels working on this would be a conflict. The start up has a management team in place and we can continue without me being named a director, adviser or board member.
However, my current employer COI policy states:
I cannot own a "substantial financial interest" in a company that competes with, does business with or acts as a vendor of my current employer.
My startup actually will be a vendor to companies in my current employers field (and possibly my current employer).
I am willing to not be named on paper anywhere as my start up actually starts up. The problem is how do I retain a significant equity position that does not conflict with my employers policy, nor put undue risk on the startup as investors consider investing in the startup?
If I have an arrangement to be awarded stock at a later date when I join the startup (if and when it takes off and can replace my current salary) I will then have to pay taxes on that grant whereas all the managers of the start up I brought in won't have to pay those taxes.
How can I avoid this and keep my equity? Any help would be great.