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1. Parties: Identification of the Partnership entity and the Employee Partner entering into the agreement
2. Background: Context of the agreement, including the business nature and purpose of offering partnership to the employee
3. Definitions: Key terms used throughout the agreement, including Partnership Interest, Profit Share, Capital Contribution, etc.
4. Partnership Interest: Details of the partnership interest being offered, including percentage ownership and class of partnership units
5. Capital Contribution: Requirements for initial and ongoing capital contributions, if any
6. Profit Sharing and Distributions: Formula and timing for profit distributions and allocation of losses
7. Management and Voting Rights: Partner's role in management and voting rights attached to their partnership interest
8. Employment Terms: Ongoing employment terms, including role, responsibilities, and compensation
9. Fiduciary Duties: Partner's fiduciary obligations to the partnership and other partners
10. Termination: Circumstances and procedures for terminating the partnership and/or employment relationship
11. Buy-out Provisions: Terms for buying out the partner's interest upon various trigger events
12. Dispute Resolution: Process for resolving disputes between partners
13. Governing Law: Specification of applicable Canadian jurisdiction and laws
1. Non-Competition: Restrictions on competing activities, used when protecting business interests is crucial
2. Intellectual Property: IP ownership and rights, included when the partner will be involved in creating IP
3. International Operations: Provisions for international business activities, used when the partnership operates across borders
4. Family Members: Provisions regarding transfer of partnership interests to family members, used for family succession planning
5. Training and Development: Professional development requirements and support, included for junior partners
6. Client Relationships: Provisions regarding client ownership and transition, important for professional services firms
7. Insurance Requirements: Specific insurance obligations, included when partners need professional liability coverage
8. Remote Work: Provisions for remote work arrangements, used when partners work remotely
1. Schedule A - Capital Account Details: Detailed breakdown of partner's capital account and contribution schedule
2. Schedule B - Profit Sharing Formula: Detailed calculation method for profit sharing and performance metrics
3. Schedule C - Partnership Interest Valuation: Methodology for valuing partnership interests for buy-out purposes
4. Schedule D - Employment Terms: Detailed employment terms, including compensation structure and benefits
5. Schedule E - Management Structure: Organizational chart and management responsibilities
6. Appendix 1 - Partnership Policies: Key partnership policies and procedures
7. Appendix 2 - Required Consents: Forms for required consents and approvals
8. Appendix 3 - Insurance Requirements: Detailed insurance coverage requirements and minimums
Professional Services
Legal Services
Accounting and Financial Services
Management Consulting
Healthcare Services
Architecture and Design
Engineering Services
Technology and Software Development
Real Estate Services
Investment Management
Business Advisory Services
Legal
Human Resources
Executive Leadership
Finance
Partnership Committee
Board of Directors
Governance
Professional Development
Operations
Risk Management
Managing Partner
Senior Associate
Principal Consultant
Executive Director
Senior Manager
Department Head
Practice Leader
Senior Professional
Technical Director
Project Director
Senior Advisor
Chief Specialist
Lead Professional
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