Profit Sharing Agreement
Template for profit sharing and financial payouts between business partners.
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Profit Sharing |
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This agreement references partners within a LLC partnership agreement and
defines the distribution of profits and financial payouts. Simple template may be modified to distribute
profits and payouts based on the number of people and proportions you determine for your company.
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PROFIT SHARING AND FINANCIAL PAYOUTS
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IT IS MUTUALLY AGREED upon that the partners described in the Partnership agreement form of "Company": ____________________ herby acknowledge the following schedule for financial distribution of funds with its partners and within its company.
1. QUALIFYING MEMBER - A Qualifying Member is a person or people authorized by the Officer's of "Company": ____________________ to be eligible in payouts
2. PAYOUTS - Payouts will be made to each qualifying partner on the last day of each and every month for work completed within that qualifying month.
3. TERM - All financial payouts are available for viewing but under no circumstances, unless authorized by the CEO can any payment be written or paid to by any other member of said company. CEO must have authorization from any company officer for CEO payment.
4. PROFIT SHARING - Any and all profits after expenses are eligible for profit sharing whereas each partner's profits can be deposited into a savings account and paid out at the end of the year or monthly. Additional Profit Sharing Forms will be distributed to all qualifying members.
5. METHOD - Below is the standard responsibility of the company for payouts and profit sharing in order of financial distribution based on per project or job. No payouts will be given until the balance of said project or job is paid in full.
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| TYPE | AMOUNT |
| Company/Organization | 50% profit after expenses |
| Sales Person (or qualifying member) | 20% profit after expenses |
| Administration (or qualifying member) | 5% profit after expenses |
| Operations (or qualifying member) | 5% profit after expenses |
| Partner Payout | 20% profit after expenses |
| TOTAL PAYOUT PER PROJECT or JOB is EQUAL or LESS THAN 100% |
6. MODIFICATIONS - This instrument may not be changed orally. Any modifications of this agreement must be by written supplemental agreement executed by all parties thereto.
IN WITNESS WHEREOF, the parties have hereunto signed this partnership agreement this
__________day of ______________________, 20____.
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SIGNATURE / NAME / TITLE
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