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When it comes to compensation, remember that times will NOT always be good (except in very rare circumstances, which is unlikely to be you!)  So, some thoughts on compensation, remembering that there are elements other than pay that are part of compensation, these include the quality of the team (A "golden team" is worth a lot of people you bring on!), the compelling nature of your vision (does it have value and excitement for those people) and the quality of your leadership.

• Pay fairly
• Give a share of the upside
• Ask for a share of the downside
• If tough times hit, consider having everyone take a pay cut before layoffs
• The least loyal or least able to weather the storm will leave on their own with no hard feelings
• The rest of the team will INCREASE their loyalty
• Don’t give options when cash is uncertain unless you KNOW they will be worth something – check with your D&O insurance policy
• Don't chintz on space – it's a cheap reward
• People, especially "talent" feels valued if they have room - room to think, room to talk, room to meet
  
• Efficiency improves, especially for technical talent!