While owners of corporations are "shareholders", owners of LLCs are "members". Therefore, any equity you would be giving a partner or employee would be in the form of % membership. LLCs offer a unique flexibility in that you can pay out any percentage of profits you want to each member, it doesn`t need to be dependent upon how much % ownership they have.
So yes, from my understanding, it certainly is possible. You would have to make the individual a member and grant them a percentage ownership. You can then decide to pay this employee a certain amount, whatever you agree on.
I am not positive about the legality about what claims and decisions a minority member would have on the business, although I would assume it is similar to a minority shareholder of a corporation.
Just make sure you have everything ironed out in the membership agreement. You can dowload templates for agreements from a variety of sources, I know entrepreneur.com offers them.
Motivation for Entrepreneurs