Asked to be CEO -- what should I ask for?

I have been appoached by a private equity firm that has an idea -- a good one -- and $5M. They've asked me to be CEO and make it happen. They requested I make the opening bid for compensation and equity. I've not done start-ups before, since I've been at a variety of large high-tech firms all my career. What is a good opening bid? What are the right negotiating tactics thereafter?

A 2012 compstudy extract can be found in this presentation Relevant data for CEO:

• base - 187
• bonus - 98

current equity holdings: 31.7% (as % of diluted shares)

But remember to setup proper option pools, set asides for key hires, etc. And make sure you understand what the KPIs are related to your actions (good and bad) & set outcomes accordingly.

Compstudy has some executive compensation reports that you may find useful. A free but dated version of their report is available here: http://www.scribd.com/doc/7494620/2008-CompStudy-Report-in-Technology

What salary would you be excited with if you got it? Start with that.