Personally I wouldn't put a lot of effort into getting stock as a contractor/consultant. The chances of being "handsomely rewarded" in terms of future fortunes

Personally I wouldn't put a lot of effort into getting stock as a contractor/consultant. The chances of being "handsomely rewarded" in terms of future fortunes are very slim and far between. By the time you throw in the cost to exercise and the tax obligations, it may not be as much of a reward as you think. With that said, you may be able to negotiate to reduce your hourly rate in exchange for earning a equity position. You could also work out a convertible debt type arrangement. But again, I would walk cautiously here. Having $100 today can be worth a lot more than the gamble on possibly having $1000 five years from today. Just because a company is offering employees stock does not mean that the stock will be worth anything or that the employees will be rewarded on an exit.