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Share Profit Agreement
"I need a Share Profit Agreement under Irish law for a technology startup partnership where three founding partners will share profits equally, with quarterly distributions starting from March 2025, and including provisions for future employee profit-sharing scheme implementation."
1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Context of the agreement, relationship between parties, and purpose of the profit-sharing arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Profit', 'Accounting Period', and 'Distribution Date'
4. Profit Sharing Structure: Core terms of the profit-sharing arrangement, including percentage splits and basis of entitlement
5. Calculation of Profits: Methodology for calculating distributable profits, including accounting principles and adjustments
6. Distribution Mechanics: Timing, method, and procedure for profit distributions, including payment details
7. Accounting and Records: Requirements for maintaining financial records, conducting audits, and providing financial information
8. Rights and Obligations: Key responsibilities and rights of each party regarding the profit-sharing arrangement
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Confidentiality: Provisions regarding the treatment of confidential information
11. Dispute Resolution: Procedures for resolving disagreements between parties
12. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Tax Provisions: Detailed tax handling procedures - include when tax implications are complex or involve international elements
2. Employee Participation: Specific provisions for employee profit-sharing schemes - include when agreement involves employee participants
3. Intellectual Property: IP rights and their relationship to profit calculation - include when IP forms part of the profit generation
4. Change Control: Procedures for handling business changes - include for complex or long-term arrangements
5. Non-Competition: Restrictions on competitive activities - include when parties may have competing interests
6. Force Majeure: Provisions for handling unforeseen events - include when external factors could significantly impact profits
7. International Provisions: Specific clauses for cross-border arrangements - include for international agreements
1. Schedule 1 - Profit Calculation Methodology: Detailed formula and examples of profit calculations
2. Schedule 2 - Distribution Timeline: Annual calendar of key dates for accounting, verification, and distribution
3. Schedule 3 - Accounting Principles: Specific accounting standards and principles to be applied
4. Schedule 4 - Excluded Items: List of items specifically excluded from profit calculations
5. Schedule 5 - Reporting Template: Standard format for financial reports and profit statements
6. Appendix A - Initial Financial Baseline: Starting financial position for profit calculation purposes
7. Appendix B - Authorized Representatives: List of individuals authorized to act on behalf of each party
Authors
Financial Services
Professional Services
Technology
Manufacturing
Retail
Construction
Healthcare
Real Estate
Agriculture
Energy
Hospitality
Education
Media and Entertainment
Transportation and Logistics
Consulting
Legal
Finance
Accounting
Corporate Governance
Human Resources
Executive Leadership
Tax
Compliance
Treasury
Business Development
Shareholder Relations
Operations
Risk Management
Chief Executive Officer
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Business Development Manager
Partnership Manager
Financial Controller
Company Secretary
Tax Manager
Accounting Manager
Compliance Officer
Human Resources Director
Operations Director
Investment Manager
Managing Partner
Board Director
Shareholder Relations Manager
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