A friend of mine was actually in almost the exact same situation recently. He was offered 8%, vested over four years, plus about a quarter salary with promise o

A friend of mine was actually in almost the exact same situation recently. He was offered 8%, vested over four years, plus about a quarter salary with promise of full salary (or at least full-er salary) on a second funding around. For the record, he turned the offer down. He'd been hoping for 20%, but also wouldn't have taken the position if he'd been offered 50% because he just wasn't passionate about the startup after a two-month trial period.