A bit of background: The two founders are guys I used to work with before our previous employer (a SaaS company) was aquired back in 2010. One of the founders was a senior sales exec and the other was director of IT. They have a senior Software Engineer currently developing their beta product (a SaaS offering). They also have a strong support network backing them, mostly comprised of seasoned industry execs. I've seen their product and it is solid and I believe it has a lot of potential. Right now they are seeking funding and are realistically about 3-4 months away from securing capital (VC and/or Angel). They've just finished a round of "friends and family" funding wich has raised about $150k.
I've been presented and offer of employment with two different compensation packages. What do you guys think would be the best option?
- base salary of :65k
- 3 weeks of vacation
- 20 000 stock options.
Lower base salary of 50k. (bumps back up to 65k when they get investment)
4 weeks vacation
20 000 stock options
Risk Bonus: 5000 additional stock options per month until they get investment. With max of 20 000 aditional stock options.
Notes: I do not know yet what the amount of shares outstanding is (total amount of shares issued). I also don't know what their stock ISO pool / ownership blocks look like. Both options provide the flexibilty to work from home as deemed fit.
EDIT: I'm just waiting for a response from them concerning amount of outstanding shares, vesting shcedual and strike price.