[AnotherMarc]

Congrats on the progress you've made so far. Personally, it doesn't sound like a co-founder. It's not clear whether you think he wants that title specifically or just a lot of equity. The former would be a red flag to me without some context.

As far as the amount of equity to give, 50/50 after a couple years, when you've gotten the company profitable, seems high. But that depends on why you started the company in the first place, and more importantly, where you want to take it from here and how he can help with that. If he's uniquely capable to accomplish things that you really want for the company, but can't or don't want to do yourself, you'll compensate him highly. If you can't afford the salary, you'll give him more equity. And that's certainly a valid decision, even if it's not typical. That said, the fact that you don't think it makes sense leads me to believe that it doesn't. I personally would have to have no doubt before giving up that much of the company that I"d made profitable.

Whatever you do, I would vest any equity too.