First equity what questions should I ask and how?

Last month I was offered for an equity on a startup venture. It's an online store focus on selling customized toys. Their business models looks good and promising. But I just have few doubts and questions that I'd like to ask them. I'm just not sure if it's appropriate or I would sound stupid asking them. To give you an idea, I would be a Graphic Designer in that startup.

Questions.

1. How should I ask what will be my share in the company? in terms of stocks and money.
2. How do I get paid?
3. How many hours would I have to dedicate to the business? I'm a freelancer so usually I only dedicate 4 hours per client.
4. How can this equity be useful in my future career? Can I put this on my profile or resume?
5. Are there other benefits?

Please help. thank you!

You have good questions listed already but I would add a few more and take some of these out. Take out #4, as Equity doesn't have anything to do with your further career but work is, so you can definitely put this on your Resume.

I would rephrase #3 to be: What are your expectations? The hours will be determined based on that.

Change #2 to: Will there be a salary or will this be dividend only?

Add a couple:

• What is the vesting period of the equity?
• What are the buyout options prior to full vesting?
• How's the business funded?

I would also ask:

• When is the expected go live date?

I'm sure there might be more questions but I think this will give you a good starting point.