multiple one-way links to another site

[ariff44]

Thank you for your help in advance:

I have a PR6 site that is currently generating about 16,000 unique visitors per month. One of my competitors has approached me about fowarding all of my traffic to his site in exchange for a higher converstion ratio, lead payments and just in general a higher profit potentially

However, my site has over 250 links that funnel directly to my join page. If was to foward all of my traffic to him, I would have to replace all 250 links that lead to my join page to his.

He has agreed to put a link from his site to mine on his homepage (his site is PR5).

1. Does Google count all links from a site or just one?

2. Will this hurt my rankings?

3. How can I go about this in a profitable way?

[korkus2000]

I don't understand fowarding all of your traffic to his site. Is it a redirect from your domain to his? Sounds like a really bad idea to me.