Risks of letting someone run under my authority

This guy is asking me if he can run his trucks under my company to reduce his risk since he already has another dot and wants to make sure he has a backup in case he gets shut down. The deal raises some red flags in my opinion

-charge me 5% for his dispatch company to dispatch my trucks
-give me 5% for each truck he runs under me
-give me 6% for owner ops he brings under me
-majority of insurance/eld markups he charges his O.O's
-WANTS ME TO PAY DOWN PAYMENT ON THE INSURANCE FOR ANY TRUCK HE BRINGS which I find laughable.
-wants a 90 day notice if we wanna break up partnership.

What do you guys think?

 

Yeah I'm honestly embarrassed to even ask you guys. I just don't know what this guy's angle is. His reasoning is that I'll be generating so much money from his trucks that I won't even care. He plans to add 20 by July supposedly. I wanna tell him that I want him to pay for his own and write up an airtight contract but now that I see he has no morals I really don't wanna even bother