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1. 1. Parties: Identification and details of all family members entering the partnership
2. 2. Background: History of the family business and context for the agreement
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Partnership Structure: Legal structure, ownership percentages, and capital contributions
5. 5. Management and Decision Making: Roles, responsibilities, and voting rights of partners
6. 6. Profit Sharing: Distribution of profits and losses among partners
7. 7. Financial Matters: Capital accounts, drawings, and financial management procedures
8. 8. Business Operations: Day-to-day management and operational procedures
9. 9. Exit Provisions: Procedures for retirement, death, or voluntary exit from the partnership
10. 10. Dispute Resolution: Procedures for handling disagreements and conflicts
1. Succession Planning: Detailed provisions for next generation transition and inheritance planning
2. Intellectual Property Rights: Ownership and protection of intellectual property within the family business
3. Employment Terms: Specific terms and conditions for family members working in the business
4. Non-Competition: Restrictions on partners competing with the family business
5. Family Council: Structure and operation of family governance body
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments and contributions
2. Schedule 2: Business Assets: Comprehensive list of business assets and their ownership status
3. Schedule 3: Family Constitution: Family values, principles, and guidelines governing the business
4. Schedule 4: Valuation Methodology: Agreed method for valuing partnership interests
5. Schedule 5: Decision Making Matrix: Detailed breakdown of voting rights and decision-making thresholds
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