Equity Partner Contract for the United Kingdom
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Equity Partner Contract
"Need an Equity Partner Contract for a senior associate joining our London-based management consulting firm as a full equity partner from March 2025, with specific provisions for international client work and a 24-month non-compete clause."
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1. Parties: Identification of the partnership and incoming partner
2. Background: Context of the partnership and admission of new partner
3. Definitions: Key terms used throughout the agreement
4. Capital Contribution: Details of required capital investment and payment terms
5. Profit Sharing: Formula and timing for profit distribution, including drawings and allocation of losses
6. Management Rights: Partner's voting rights, management participation, and decision-making authority
7. Duties and Obligations: Partner's responsibilities, commitments, and expected contribution to the partnership
8. Restrictive Covenants: Non-compete, non-solicitation, and confidentiality obligations
9. Exit Provisions: Terms for retirement, voluntary withdrawal, expulsion, and death/incapacity
10. Insurance and Indemnity: Professional indemnity requirements and mutual indemnification provisions
11. Dispute Resolution: Procedures for resolving partnership disputes and applicable jurisdiction
12. General Provisions: Miscellaneous legal provisions including notices, amendments, and severability
1. Regulatory Compliance: Specific obligations and requirements for regulated industries such as legal or financial services
2. International Operations: Provisions dealing with cross-border activities and international offices
3. Intellectual Property: Ownership, usage rights, and protection of partnership intellectual property
4. Good Faith and Fiduciary Duties: Explicit statement of partnership fiduciary obligations and good faith requirements
5. Anti-Money Laundering: Specific provisions for compliance with AML regulations in regulated sectors
1. Schedule 1 - Capital Account Details: Detailed breakdown of partner's capital contribution and payment schedule
2. Schedule 2 - Profit Sharing Formula: Detailed calculation methods and timing for profit distribution
3. Schedule 3 - Partnership Policies: Key operational policies, governance procedures, and internal regulations
4. Schedule 4 - Insurance Requirements: Specified professional and personal insurance coverage requirements
5. Schedule 5 - Restrictive Covenants: Detailed terms of non-compete, non-solicitation, and confidentiality obligations
6. Schedule 6 - Partner Performance Metrics: Performance evaluation criteria and expectations
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