I would send, as long as he understood that I'm keeping my track-outs. Sometimes these big name producers want your tracks so they can shop it to other artists under their name. Then, they'll give you co-production credit and your portion of the royalties , or they'll keep it only under their name while you still get your portion of the royalties.
As long as the paperwork is right, I'd do it.
Also, never underestimate the power of negotiation, this book has helped me out tremendously. Amazon.com: Getting to Yes: Negotiating Agreement Without Giving In (9780143118756): Roger Fisher, William L. Ury, Bruce Patton: Books