I was interviewed by a company which is a startup by a team and consists of a developer, a marketing person, an accountant and a coordinator. The team is working on the first application ever. Basically, one of them had an idea and shared it with friends and now they got some funds and want to build it.
Verbally, they stated an x salary (almost half the market salary), no benefits and that I would get 5% of whatever the company will make. And that they are promised to get more money soon by their sponsors.
I said let's move forward, but then I received an offer letter for only three months, at-will (any party can terminate at anytime), the x salary, no benefits and no 5%. They said it is three months only because they are "restructuring" the company from a LLC to a Corporate, and after that they will modify the contract and negotiate a new salary, new benefits, new everything (the 5%) and continue.
I am afraid that I will build the application for them and then, boom, get laid off. I want the job since it is 5 minutes away from where I live + I am jobless + liked the team.
They said that they will modify anything in the contract that does not make me feel comfortable. How can I secure this job, the way that makes me comfortable but without risking losing it?