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Fixed Share Partnership Agreement

Fixed Share Partnership Agreement Template for Ireland

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Key Requirements PROMPT example:

Fixed Share Partnership Agreement

"I need a Fixed Share Partnership Agreement for our Dublin-based accounting firm, bringing in a new partner from March 2025 with a fixed profit share of 8% and specific performance targets for the first two years, with a path to equity partnership after three years."

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Document background
The Fixed Share Partnership Agreement is essential for professional services firms in Ireland looking to expand their partnership while maintaining control over profit distribution and management rights. This document is typically used when bringing in new partners on a fixed share basis, providing them with a guaranteed level of remuneration rather than full equity participation. The agreement must comply with Irish partnership law and relevant regulations, including the Partnership Act 1890 and tax legislation. It details the fixed share partner's rights, obligations, profit share arrangements, capital requirements, and participation in management decisions. This structure is particularly common in legal, accounting, and consulting firms as a stepping stone to full equity partnership or as a permanent arrangement for partners who prefer stable income over equity risk.
Suggested Sections

1. Parties: Identification of the partnership entity and the incoming fixed share partner

2. Background: Context of the agreement, including the partnership's nature and the basis for admitting the fixed share partner

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Commencement and Term: Start date and duration of the fixed share partnership

5. Fixed Share Partner Status: Definition of the fixed share partner's position, rights, and relationship with the partnership

6. Financial Arrangements: Details of fixed share, profit share, drawing arrangements, and capital contribution requirements

7. Duties and Obligations: Responsibilities of the fixed share partner and compliance with partnership policies

8. Management and Decision Making: Extent of fixed share partner's involvement in management and voting rights

9. Professional Indemnity Insurance: Insurance requirements and coverage provisions

10. Confidentiality and Intellectual Property: Protection of partnership's confidential information and IP rights

11. Termination: Circumstances and procedures for terminating the fixed share partnership

12. Post-Termination Obligations: Restrictions and obligations following termination

13. General Provisions: Standard boilerplate clauses including notices, entire agreement, and governing law

Optional Sections

1. Probationary Period: Include when the partnership wishes to implement an initial trial period

2. International Practice: Include when the partnership operates across multiple jurisdictions

3. Retirement Provisions: Include when specific retirement arrangements are offered to fixed share partners

4. Progression to Equity Partnership: Include when there's a defined path to full equity partnership

5. Alternative Dispute Resolution: Include when specific mediation or arbitration procedures are preferred

6. Client Development and Marketing: Include when specific business development obligations are required

7. Secondment Provisions: Include when the partner may be seconded to clients or other offices

Suggested Schedules

1. Schedule 1 - Financial Terms: Detailed breakdown of fixed share, profit share calculation, and payment terms

2. Schedule 2 - Performance Targets: Specific KPIs and performance expectations

3. Schedule 3 - Partnership Policies: Key policies and procedures that the fixed share partner must comply with

4. Schedule 4 - Insurance Details: Specific insurance requirements and coverage details

5. Schedule 5 - Restricted Clients: List of clients subject to post-termination restrictions

6. Appendix A - Partner Capital Requirements: Details of any required capital contribution and terms

7. Appendix B - Benefits Package: Summary of benefits available to fixed share partners

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions














































Clauses









































Relevant Industries

Legal Services

Accounting & Audit

Management Consulting

Architecture

Medical Practices

Dental Practices

Financial Services

Real Estate

Engineering Consultancy

Tax Advisory

Investment Management

Insurance Broking

Veterinary Practices

Surveying Services

Relevant Teams

Legal

Finance

Human Resources

Compliance

Risk Management

Professional Support

Operations

Business Development

Administration

Partnership Secretariat

Relevant Roles

Managing Partner

Senior Partner

Fixed Share Partner

Partnership Secretary

Legal Director

Head of Finance

HR Director

Compliance Officer

Practice Manager

Professional Support Lawyer

Partnership Director

Chief Operating Officer

Risk Manager

Business Development Director

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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