Products tagged with 'special partnership unit'
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Ontario Partnership Agreement with Special Unit Provisions
Prepare a Partnership Agreement for an Ontario partnership with this template, which provides for a special partnership unit to be issued for assets vended in.
- Ordinary partnership units are issued to the partners in accordance with their financial contributions, and a special unit is issued to one partner which has vended in certain assets to be used by the partnership business.
- The holder of the special unit will be allocated profits (or losses) in addition to those allocated among the ordinary units.
- Partnership units of a withdrawing partner will be distributed among the remaining partners pro rata their holdings, except for the special unit, which will be redeemed in exchange for a promissory note.
- This legal contract template is available as a fully editable and customizable MS Word document.
- Intended for use only in the Province of Ontario, Canada.
$29.99
Provisions to Create Phantom Partnership Interests
Create phantom partnership interests for persons who have made significant contributions by adding these provisions to your Partnership Agreement.
- Phantom partnership units can be issued to employees, professional advisors, consultants and other parties whose contributions have been a significant factor in the business' success.
- Each holder of phantom units is deemed included as a partner, and is entitled to distributions to partners, notwithstanding that s/he is not actually a partner.
- Phantom units cannot be transferred without the consent of the General Partner.
- This form is available in MS Word format.
$2.29 $1.99
