have you already formed this partnership??
That what is fair to one person is not neccessarily fair to the next.
so let me understand the situation,
your partner wants a salary, well he has to live, how much is the next question.
your partner wants additional share of the business, does that mean that he wants more ownership than you ??
IMHO this is the way it is,
It sounds like he wants the best of both worlds. the security of employement and the benefits of ownership. I would never give both away. Now he is putting more time into the business than you but you are compensating him for that with a % of the business.
You are better off just going out and hiring someone to operate your business. a general manager that is. That way you are the boss , you make the decisions and as already stated take all the financial risk and realize all the financial reward.
Just the opinion of someone who has tried the rest. business, with a partner who supposedly had the skills to operate it, and put no money up. It was the longest 5 years of my life. It may have been the biggest mistake I have ever made in my life. I`m still trying to convince myself that I learned enough to make it all worth while but I`m not sure if that is the case or not.
Good luck, because if your having doubts about it now, well,,,, Good luck.