What was the deal Robin made with the tinker to get him to join his band?

After tricking the tinker, drinking with him, stealing his arrest warrant, and fighting him, Robin Hood then offers him a place in his merry band. The incentives include three new green suits every year and an annual pay of forty marks. Robin Hood also offers the tinker the chance to share in the gains of the other members of the band and to lead a "merry" life. Robin Hood assures him that the existence of the band members is carefree and pleasant in Sherwood Forest. They shoot deer, and they eat venison, oat cakes, curds, and honey.
The tinker agrees to join, saying he enjoys a merry life and likes Robin Hood, even though Robin Hood has "thwack[ed]" him and cheated him. The tinker believes that Robin Hood is a better man than he is, and he states:

Thou art both a stouter and a slyer man than I; so I will obey thee and be thine own true servant.