Hiring a Freelancer !

My partner and I have a design studio that we work on the side . We are looking to get a freelance person to do some work. My question is Is there a contract that we need for him to sign ? Anyone have samples that I can look at ? We haven't met him yet . We will probably set something up at the end of the week . My other question is , What does everyone pay a freelancer . Our business is not big at all. We do this on the side ...Love to get lots a feedback. Thanks in advance!