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Business Partnership Percentage Agreement
1. Parties: Identification and details of all partners entering into the agreement
2. Background: Context of the partnership formation and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form of the partnership and basic organizational structure
5. Ownership Percentages: Detailed breakdown of each partner's ownership stake
6. Capital Contributions: Initial and ongoing capital contributions required from each partner
7. Profit and Loss Distribution: Formula and mechanisms for distributing profits and losses according to partnership percentages
8. Management Rights: Decision-making authority and voting rights based on partnership percentages
9. Partner Duties and Responsibilities: Obligations and responsibilities of each partner
10. Financial Management: Accounting practices, banking arrangements, and financial reporting requirements
11. Transfer of Interest: Rules and restrictions regarding the transfer of partnership interests
12. Term and Termination: Duration of the partnership and conditions for termination
13. Governing Law: Confirmation of Danish law application and jurisdiction
14. Dispute Resolution: Procedures for resolving disagreements between partners
15. Notices: Communication requirements and contact details for official notices
1. Non-Competition: Restrictions on partners engaging in competing businesses, used when partners have other business interests
2. Intellectual Property Rights: IP ownership and usage rights, included when the partnership involves creation or use of intellectual property
3. Death or Incapacity: Procedures in case of partner death or incapacity, important for family businesses or small partnerships
4. New Partner Admission: Process for admitting new partners, relevant for growing partnerships
5. Buy-Sell Provisions: Detailed procedures for buying out partners, important for larger partnerships
6. Insurance Requirements: Specific insurance obligations, necessary for high-risk businesses
7. Confidentiality: Protection of partnership secrets and confidential information, crucial for partnerships handling sensitive information
8. Force Majeure: Provisions for unexpected events affecting partnership operations
1. Schedule A - Initial Capital Contributions: Detailed list of each partner's initial capital contributions, including valuations of non-cash contributions
2. Schedule B - Profit Sharing Formula: Detailed calculations and examples of how profits and losses will be distributed
3. Schedule C - Partner Contact Information: Complete contact details and addresses for official notices
4. Schedule D - Management Structure: Organizational chart and detailed management responsibilities
5. Schedule E - Business Plan: Initial business plan and strategic objectives of the partnership
6. Appendix 1 - Valuation Methodology: Agreed methods for valuing partnership interests for transfer or buyout purposes
7. Appendix 2 - Banking Arrangements: Details of partnership bank accounts and signing authorities
8. Appendix 3 - Accounting Policies: Specific accounting principles and procedures to be followed by the partnership
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