The same exact thing happened to me a couple of years ago - except that I wasn't working at a startup, but at an established company. I even proposed to have a results-based salary (I was doing a lot of sales engineering, so that would have been fairly simple) but was refused.
So I started working just my contract hours, and building hashtagify.me on the side. In the end I gave my resignation notice, they went into a panic and offered me 5 months of half-time work - but with 85% pay; this cost them much more than what I would have expected as a bonus at the time, not to count the almost two years of not-really-enthusiastic work.
I really can't understand how managers/business people can be so stupid sometimes.
So I started working just my contract hours, and building hashtagify.me on the side. In the end I gave my resignation notice, they went into a panic and offered me 5 months of half-time work - but with 85% pay; this cost them much more than what I would have expected as a bonus at the time, not to count the almost two years of not-really-enthusiastic work.
I really can't understand how managers/business people can be so stupid sometimes.