[rdl]

No.

This is a horrible idea because it establishes a high price for the common stock. If the guy invests $100k into your common stock for 1%, you've just established that anyone getting a stock grant of 1% also owes taxes on $100k in income.

Reasonable lawyers familiar with startup financing wouldn't have advised this. Your investor probably isn't very sophisticated when it comes to equity compensation for employees, not just tech.