With all due respect to everyone here, Chrixxer (what is your name by the way...) is an aviation attorney. Come on folks, this is his profession. If he can't write a suitable legal partnership agreement who can? Like other parts of the body, everyone has an opinion, and it is just an opinion not fact. What works for one may not work our for another. Leave the guy alone, and whatever he decides is his choice. If it works out, great, if not, partnerships of any kind can be dissolved.
To the op, I think that by asking the members here about your personal partnership agreement, all you are doing is opening up a big can of worms, and "riling up the troops" unnecessarily . You most likely have written more agreements (and have seen the results of those contracts) than most people here have ever seen. IMHO, you need to make this decision yourself. No one here can or should really help you with that one. I'm certain that whatever way you go it will be the best for you in your situation.