It's day one of the Angel Capital Association's Annual Summit in Atlanta. Today's program includes long format education sessions; I'm sitting in on "Building Effective Startup Boards", Tech Coast Angel Dave Berkus presiding. He's got the credentials, he been on 40 boards over the years, 10 currently. He writes checks, too, with over 70 investments in early stage companies. Dave was the highest rated speaker at last year's Summit.

Who's attending? We're all over the map. Some sit on boards today, some see themselves eventually on their portfolio company boards. I'm here because of the 4 non-profit boards I currently sit on.

I've already implemented some of Dave's recommendations; he's appeared in Halifax and several other angel groups just in the past year. Board development committees, I've setup 2 in the past year to great acclaim; my fellow board members eager to improve the quality of the process of attracting new board members. We've set terms of service and reviewed the applications of potential new board members, helped to sunset, or not renew, several low-performing board members. In the process, it's invigorated these boards.

Dave brings specifics, like what options to grant to board members of these private startups: 1% vesting over 2-4 years. Add 1/2% for the Chairman. What about options for key employees? Ballpark 1.5% for the CFO and head of Sales, 1% to the CIO. Compensation, what's he seen? CEOs $180k plus $250k bonus, sales $120k plus a bonus of 1/4% of sales. What about the Board of Advisors? Options of 1/4 to 1/2% vested over 2-4 years. This was an eye opener for me; I've been advising startups to invite advisory board members for no compensation, but dangling the eventual funding event as an opportunity to move from advisory board to board of directors. My favorite suggestion: once the company is funded, take the board out to dinner or off on retreat so they get to know each other right away; do this each time you add someone new to the board, too.

Four hours of great content, he's a contender for the best speaker this year, too.