Over the course of the past few weeks, my business partner and I have developed a partner agreement. After numerous meetings amongst ourselves and legal council input we have a finalized version of our partner agreement, typed out below. It is something we are proud of and are signing in the next few days. We want our venture to flourish. For more information go to doubleeagle.co to see our company.
Double Eagle Partnership Agreement
With the establishment of Double Eagle Marketing as of __________________________, we the undersigned _______________________________ and _______________________________ agree to adhere to the following conditions as part of the legally binding contract that legitimizes the partnership.
-Unless a different ratio is agreed to beforehand, the default split for revenue shall be 50-50.
-If revenue is split in a ratio greater than 55-45 with TOTAL revenue exceeding $1000, the holder of the larger share shall treat the holder of the smaller share to one meal at the dining establishment of the majority holder’s choice. The total cost of the meal shall not exceed more than half the difference of the greater and lesser share.
-Any business engagement that involves food and alcohol will have a two-drink limit for those involved on the business-side.
-If travel to a business engagement involves only one vehicle and has a round trip exceeding 30 miles, the driver shall be fairly compensated for gas by the rider(s) of the trip.
-When working on official business, partners shall agree to a 24-hour contact window regarding updates and/or change of plans.
-If one business partner is afforded a long-distance trip, a reasonable effort shall be made to include the other business partner in the trip. Note though, that the other partner may need to cover his/her own expenses and shall not be entitled to any compensation.
-Any expenses incurred while doing business shall be the responsibility of the person who incurred it, unless it was agreed upon previously that the expense was to be joint.
-Unless otherwise noted, official business attire shall be business casual.
-If a business partner is in school or a second job, academics/the second job shall take precedence until business can be seen as fully viable.
-The partners shall be allowed to remove and add amendments to the document as seen fit.
-The partnership agreement shall be good for one fiscal year before needing to be re-signed to ensure that both partners are amendable to the terms and conditions of the agreement.
-Both business partners shall share the equal responsibility of maintaining the company’s social media pages.
-If possible, both partners shall be present when interviewing any potential job candidates. Contractors are the individual responsibility of the partner who hire them, as they are not company employees.
-A Ford Transit shall be the company car of choice should the needs of the business eventually require the use of a dedicated motor vehicle.
-All successful business calls between partners shall end with an exclamation of “Da Bears”. Failure to proclaim “Da Bears” after a successful business call shall result in the person failing to proclaim “Da Bears” one drink of the proclaiming caller’s choice.
Henceforth, we the undersigned agree to the above terms in order to ensure the success of Double Eagle Marketing.