[bjones53]

Chris Dixon does a great job at explaining vesting schedules for founders and employees http://cdixon.org/2009/04/21/founder-vesting/.

If he feels like a co-founder then you should be able to have a conversation with him about equity; if things go poorly then the partnership was never meant to be. Use this as an opportunity to discuss commitments and expectations; will he quit his job? how about cover costs?

Some people suggest that equity should be awarded based on set milestones, but I think this strategy makes people feel more like employees than co-founders.