Free Ownership Interest Agreement Layout

Prepared by: [YOUR NAME]
Email: [YOUR EMAIL]

This Ownership Interest Agreement ("Agreement") is made and entered into as of January 1, 2050, by and between Baby Bartell ("Owner 1") and Salvador Green ("Owner 2"). This Agreement outlines the ownership rights, obligations, and terms between the parties with respect to OmniTrick.

I. Parties to the Agreement

1. Owner 1: Baby Bartell

   • Contact Information: baby@you.mail

   • Ownership Interest: 60%

2. Owner 2: Salvador Green

   • Contact Information: salvador@you.mail

   • Ownership Interest: 40%

Both parties acknowledge their intent to comply with the terms outlined in this Agreement.

II. Ownership Allocation

The ownership interests of the parties are as follows:

Ownership percentages are subject to adjustment only under the terms specified in Section V of this Agreement.

III. Rights and Obligations

1. Profit Sharing:

   • Profits shall be distributed in proportion to ownership interests quarterly.

2. Voting Rights:

   • Each owner has voting power proportional to their ownership percentage.

3. Day-to-Day Operations:

   • Baby Bartell will oversee operational decisions as the majority owner.

IV. Transfer Restrictions

1. Sale or Transfer:

   • Neither party may sell or transfer their ownership interest without written consent from the other party.

2. Right of First Refusal:

   • In the event an owner wishes to sell, the other owner has the right of first refusal to purchase the interest.

V. Dispute Resolution

Any disputes arising under this Agreement shall be resolved by mediation first, followed by binding arbitration if mediation fails. Arbitration will be conducted under the rules of American Arbitration Association with a neutral arbitrator.

VI. Termination and Exit Strategy

1. Voluntary Exit:

   • An owner may voluntarily exit the partnership by giving 90 days' written notice. Their ownership interest will be valued by an independent appraiser and offered to the remaining owner first.

2. Dissolution:

   • Upon mutual agreement, the entity may be dissolved, and assets will be liquidated or distributed proportionally.

VII. Governing Law

This Agreement is governed by the laws of Arizona. Any legal action must be brought in a court located within the same jurisdiction.

VIII. Miscellaneous Provisions

1. Amendments:

   • This Agreement may only be amended in writing signed by both parties.

2. Confidentiality:

   • All terms of this Agreement are confidential and not to be disclosed without mutual consent.

Both parties have read, understood, and agreed to the terms of this Agreement as of January 1, 2050.

Signature of Baby Bartell

Signature of Salvador Green

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