I have a hobby/side project which I am quite serious about. I have been working on it for about ½ year, but have figured out I needed more people on board for it to become a success. I have found a good designer, but I don't know him that well, and I want to give him equity. I don't mind giving him a bit of equity, but is there a good way to give it during a period of time? I am concerned if he might quit the project after a few months, but would still have quite a bit of equity in the project. At the same time, he would like some assurence that he has part of the project.
Is there a good way to create a contract, which would make sure that he won't keep all the equity if he doesn't want to be on board anymore, or are there other ways to do this kind of contract?