Compensation structures vary a lot and there's no fixed norm — most fractional CMO engagements are cash-based, scoped as a monthly retainer against agreed days. Some early-stage arrangements include a small equity component, particularly with very early startups where cash is tight, but this is negotiated case by case rather than standard practice.
Treat any specific equity percentage or cash figure you hear as a starting point for negotiation, not a market rate — the range is genuinely wide across the GCC.