This is really good advice, I think it understates the downside risk of deferred compensation.

The investors may balk at applying their funds to deferred compensation, asking the founders to re-spin the employment agreement to convert the deferred compensation to common (or options) prior to the investment, further diluting and deferring it.

Why would the founders do that? They would be faced with a choice of no funding or new funding applied to salaries going forward.