[staunch]

IANAL.

I don't think that's unreasonable: 55%/25%/%20. A little more either way would be fair too.

You drawing a very basic salary ($2k/mo or something) to cover basic expenses would be reasonable too.

What is absolutely essential is that he doesn't get his equity just for promising to put in money. You should start out as 50%/50% and make it work out so you end up with 55/25/20 after the option pool and investment.

He only gets his additional equity by actually purchasing stock. That means if he agrees to put in $300k in exchange for 20% (or whatever) he only gets that stock if he actually puts in the $300k.

You probably want a "Subscription Agreement" whereby he buys a pro rata portion of his shares at fixed intervals (monthly/quarterly).

Setup the 20% option pool right away too. Putting it off will just make it harder and more likely to cause a problem.

You absolutely have to have a good startup lawyer do this for you.