I've got a very early stage startup and I'm looking to hire a contractor to do some iOS dev work. I was originally hoping to hire him as a first hire, but for reasons of his own, he's not interested in that right now (but he is interested in contract work).
In any case, I've got some cash to pay, but not tons, so I'm considering doing some sort of cash + equity deal for his work.
Has anyone else done anything like this? What were your terms? How much equity did you provide? In this case, we discussed his monetary rate being about 68% of what he normally charges depending on the amount of equity.