PARTNERSHIP SHARES. We have no comment.
PARTNERSHIP SHARES. 5.1 The Company may at any time invite every Qualifying Employee to enter into an agreement with the Company (a "Partnership Share Agreement") in the terms of the draft in the Appendix to these Rules.
5.2 Partnership Shares shall not be subject to any provision under which they may be forfeit. Maximum amount of deductions
5.3 The amount of Partnership Share Money deducted from an employee's Salary shall not exceed (Pounds)125 in any month or such other amount as may be permitted by the Schedule. If the Salary is not paid monthly, the (Pounds)125 limit shall be calculated proportionately.
5.4 The amount of Partnership Share Money deducted from an employee's Salary over an Accumulation Period shall not exceed 10% of the total of the payments of Salary made to such employee over that Accumulation Period or if there is no Accumulation Period, 10% of the Salary payment from which the deduction is made.
5.5 Any amount deducted in excess of that allowed by Rule 5.3 or 5.4 shall be paid over to the employee, subject to both deduction of income tax under PAYE and NICs, as soon as practicable. Minimum amount of deductions
5.6 The minimum amount to be deducted under the Partnership Share Agreement in any month shall be the same in relation to all Partnership Share Agreements entered into in response to invitations issued on the same occasion. It shall not be greater than (Pounds)10. Notice of possible effect of deductions on benefit entitlement
5.7 Every Partnership Share Agreement shall contain a notice under paragraph 38 of the Schedule. Restriction imposed on number of Shares awarded
5.8 The Company may specify the maximum number of Shares to be included in an Award of Partnership Shares.
5.9 The Partnership Share Agreement shall contain an undertaking by the Company to notify each Qualifying Employee of any restriction on the number of Shares to be included in an Award.
5.10 The notification in Rule 5.9 above shall be given if there is an Accumulation Period, before the beginning of the Accumulation Period relating to the Award. Plan with Accumulation Period
5.11 If there is an Accumulation Period, the Trustees shall acquire Shares on behalf of the Qualifying Employee, on the Acquisition Date, using the Partnership Share Money.
5.12 The number of Shares acquired on behalf of each Participant shall be determined by reference to the lower of:
(a) the Market Value of the Shares at the beginning of the Accumulation Period; and
(b) the Market Value of the Shares on th...
PARTNERSHIP SHARES. A. As used herein, "profits" shall include, without limitation, each item of Partnership income and gain, and "losses" shall include, without limitation, each item of loss, and deductions as determined for Federal income tax purposes, and "Partnership Share" shall be as set forth on EXHIBIT A attached hereto. All profits or losses from the operations of the Partnership (including the sale or refinancing of the Property) for a fiscal year or part thereof shall be allocated to the Partners based upon their respective Partnership Shares.
PARTNERSHIP SHARES. The partners confirm ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ :
3.1. [name] ■ ■ ■ ■ %
3.2. [name] ■ ■ ■ ■ %
3.3. [name] ■ ■ ■ ■ %
PARTNERSHIP SHARES. 4.1. Subject to the limited liability of ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ : [partner 1 name] xx% [partner 2 name] yy% [partner 3 name] zz%
4.2. If in an accounting period a Partner draws more than his share ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
PARTNERSHIP SHARES. This provision is one of the most important in the agreement. We have included a very simple and common approach. However, you can use any formula based on contributions, sales, work done, hours worked, fixed salary, ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
PARTNERSHIP SHARES. This notice applies to the Partnership Shares that were acquired by you on my behalf on [Acquisition Date]. The Release Date applicable to them is [Release Date] and the Tax Free Date applicable to them is [Tax Free Date]. I hereby direct you to transfer the legal ownership of [ ] Partnership Shares to [me][other] as soon as practicable, in accordance with the Rules of the Plan. I understand that if the Tax Free Date has not yet been reached you will withhold the amount necessary to pay income tax on the appropriate value of the Partnership Shares as well as any amount necessary to satisfy any Primary Class I National Insurance liability that may arise, in accordance with the terms of the Agreement that relates to them. [I understand that if the Release Date has not yet been reached the Matching Shares that were appropriated to me on [Appropriation Date] will be forfeited by this direction and that I shall have no further entitlement to them.]
PARTNERSHIP SHARES. This provision is one of the most important in the agreement. There are several ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ :
6.1. who must contribute what money?
6.2. in what proportions are profits and losses shared?
6.3. do entitlements change when a partner leaves ■ ■ ■ ■ ■ ■ ■ ■ ?
6.4. can a partner be compelled to add capital and what happens when ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ?
6.5. What can a partner draw each month to live on? ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
6.6. What happens if the partnership hits a rough sea and there is not enough money ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ? This and the following two paragraphs should be edited to give effect to what you have decided on these points. We have included a very simple and common approach. However, you can use any formula based on contributions, sales, work done, hours worked, ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
PARTNERSHIP SHARES. 18 PART C......................................................................... 21
PARTNERSHIP SHARES. For purposes of this Agreement, the Partners’ respective Partnership Shares shall be as follows:
(a) General Partner: Evergreen Media Corporation of Houston 1% (b) Limited Partner: Evergreen Media of Houston Limited Partnership 99% The Partnership Shares shall remain at the percentages specified above unless changed by reappointment or assignment as provided in this Agreement or by amendment to this Agreement. The Partners shall acquire their shares in the partnership identified in this Section 2.01 by making capital contributions as follows: Evergreen Media Corporation of Houston $ 1 Evergreen Media of Houston Limited Partnership $ 99
