This is a really just a disguised angel investment - it converts between a 100% ownership in her company and 10% of her salary for 10 years, at HER preference.

This is a really just a disguised angel investment - it converts between a 100% ownership in her company and 10% of her salary for 10 years, at HER preference. It's actually a great deal for her - she's got very little skin in the game: If her company fails, she'll just convert the investment so she doesn't have to actually pay out a cent and the investor gets 100% of zero (the value of her failed company). Also, even if the company succeeds, she'll be working on her pre-revenue startup for a few years, and she won't have any meaningful income for a significant portion of those 10 years.