If you don't risk your well being joining the saas company (imagine being fired after two years ..?), ask for at least 30 % equity, if they ask for a vesting schedule ,ask to keep the same salary 250 K untill equity vested.
My two cents:
Ask for a market salary
And add a condition linked to dilution:if he dilutes you by 50% , salary rises by 100% and so on
That way, you garantee yourself a market salary and if the investors come, your salary will increase accordingly if you are diluted.
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