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what to ask for my characterdesigns?

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what to ask for my characterdesigns?

Hi everybody,
I am an animator/designer from the Netherlands and have been asked by a good friend to make designs and animations for a trailer. He is the one who came up with the concept and idea and will basically lead the whole project.
The idea is to make investers interested in our project by showing the trailer so that we can eventually make a whole tv serie out of it. It's going to be really good!

Now the idea is that I will make most of the characterdesigns and be responsible for a big part of the look and style of the trailer. He has offred me a small amount of money just to cover my expenses for those few months + the guarantee that I will have a job at a high position in the actual project, which is very nice of course. So basically I am working on spec.
I have asked him for a percentage of the provit that he will make when we finish the serie. But he can not promiss anything yet since nothing is sure about how much we will be making and we don't really know what the investers are asking from us. Also, since it is just a trailer designs can still change for the actual project. In such a way that they are not really mine anymore.

Now I would be very happy if anybody could give me some good advise. I have also heard that it is only fair to ask for percentages when I will be working for the actuall series and not only for the trailer. In the case that I will only spend time working on the trailer it's probably more fair to only ask money for the time that I was working wihout percentages? How does this normally go for characterdesigners?

Hope I make any sense,