This Agreement is based on your providing, and continuing to provide, ongoing services satisfactory to Oaktree on a full- time. In exchange, Oaktree will provide you with the compensation as set forth below, subject to the terms and conditions of this Agreement.
This is a partnership agreement between ABC and XYZ dated dd/mm/yyyy. It will supersede any pre-existing partnership agreements occurring between.You will be entitled to receive: Incentive Payments”) from Oaktree Fund GP I, L. P., Oaktree Fund GP II, L. P. Certain payments (“Investment Payments”) from the Pool. Cos equal to . Certain payments (each such payment, a “Profit Payment”) equal to . In calculating your entitlement to Incentive Payments, Investment Payments, and Profit Payments, any negative amounts with respect to one or more shall be.Amounts due hereunder shall be determined by Oaktree in good faith, consistent with past practice. You and the interests granted. You shall be entitled to. Incentive Payments reasonably promptly after Oaktree receives the associated incentive distributions from the applicable Fund. Oaktree shall periodically make reasonable estimates of your expected Investment Payments and Profit Payments and. Within thirty days following delivery of the audited financial statements of Oaktree in respect of a given fiscal year, a determination shall be made as to whether the estimated payments. Investment Payments and Profit Payments for such year. You shall receive a true- up payment on such date to make up for any shortfall. Each Incentive Payment, Investment Payment and Profit Payment will only. Oaktree at the time at which such payment is otherwise to be made. Your entitlement to Incentive Payments, Investment Payments and Profit Payments shall cease immediately upon the. Oaktree, whether by voluntary resignation, involuntary termination (with or without cause), death, disability or otherwise for any reason. Oaktree makes no representation. It is the intention of the parties that payments or benefits payable hereunder not be subject to the. Section 4. 09. A of the Code. To the extent such potential payments or benefits could become subject to Section 4. A of the Code, you and Oaktree shall cooperate to amend your compensation, with the goal of. If a termination of your employment does not result in a “separation from service” within the meaning of Section 4. A of the. Code, then for purposes of determining the timing of any payment provided for by this letter agreement, termination shall not be considered to occur until you have incurred such a separation from service. The preceding sentence shall not affect the. You acknowledge and agree that your employment rights shall not be. Agreement. You further acknowledge and agree that you are and will continue to be an “at will” employee of Oaktree, which means that your employment with Oaktree may be. Oaktree with or without cause or notice and for any lawful reason or no reason. Profit Sharing Agreement Template for profit sharing and financial payouts between business partners. Oaktree Capital Management, L. P. You agree to take any such actions and to execute any such documents as Oaktree may reasonably request in order to further implement and evidence any such assignment. You may, with the. Oaktree, designate in writing, on forms prescribed by and filed with Oaktree, one or more beneficiaries to receive any payments payable after your death and may at any time amend or revoke any such designation; provided that if you. Any payments to which you would be entitled by virtue of this Agreement while alive will be paid, following your. If no beneficiary designation is in effect at the time of death, or in the absence of a spouse’s approval as herein above provided, payments to which you are entitled hereunder shall be made to your. This Agreement shall be construed and. State of California applicable to contracts made and to be performed entirely within the State of California. This Agreement may be executed in multiple counterparts, each of which shall.
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