Another minor problem with the suggestions is that the equity being asked for is basically participating preferred. I don't think you are going to get this from _anyone_ unless you are actually putting cold hard cash into the venture. Founders usually don't end up with preferred stock, so I can't see an employee getting any; if you want to prevent dilution then work to keep the burn rate low so that you don't need to ask for as much money from investors and endeavor to increase the valuation of the company when it becomes necessary to seek investment.
The only remarkable thing about the equity being asked for is the anti-dilution provision. I don't think he's suggesting you ask for liquidation preference or participating preference (which wouldn't make any sense).
Anti-dillution is there to prevent unscrupulous partners from buying tons of equity (issuing new shares) at absurdly low prices just to dilute you.
