That doesn't sound right to me. "I just want to get rid of the whole project" sounds like a position of great strength in a negotiation. You might as well say "I'm not signing anything unless I get X" and as long as X is less costly than hiring someone to duplicate your effort, you've got a deal.

My approach would look like "I know that I have a relatively stable job lined up and am facing less risk than you, which is why I'm willing to step down from 50/50 to 30/70 while signing this NDA, or 20/80 to sign a lesser agreement, like a non-compete which still allows me to reuse my code. I'm not accepting a 0/100 split because I don't have to; make me an offer which isn't insulting. Or pay me for the hours I put in. Either way." If that burns a bridge then I'm not sure that I would have wanted to save that business relationship. I'd think "Surely an MBA can understand that a dedicated employee who takes it upon himself to be more prepared than his boss at every meeting and who actually delivers the prototype should be compensated somehow."