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Profit Sharing Agreement

This profit sharing agreement is between Mr. Marvin Arce, the financier, and Mr. Peter Paul Yap, the representative. They agree to share equally in the profits from vehicles financed by Mr. Arce and sold by the efforts of Mr. Yap. Profits are calculated as the sale price minus the purchase price and any repairs. The agreement remains in effect until either party provides written notice of termination.

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Angel Yap
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2K views2 pages

Profit Sharing Agreement

This profit sharing agreement is between Mr. Marvin Arce, the financier, and Mr. Peter Paul Yap, the representative. They agree to share equally in the profits from vehicles financed by Mr. Arce and sold by the efforts of Mr. Yap. Profits are calculated as the sale price minus the purchase price and any repairs. The agreement remains in effect until either party provides written notice of termination.

Uploaded by

Angel Yap
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

PROFIT SHARING AGREEMENT

This Profit Sharing Agreement is entered into as of May 20, 2019, in _________________, between MR.
MARVIN ARCE (“Financier”) and MR. PETER PAUL YAP (“Representative”), both of whom agreed to be
bound to this agreement.

WHEREAS, MR. MARVIN ARCE (“Financier”) and MR. PETER PAUL YAP (“Representative”), desire to enter
into an arrangement whereby both will share the profits earned from the sale of ALL vehicle financed by
the “Financier” and sold by the efforts of the “Representative” all in accordance to the terms and
conditions as follows:

1. In consideration for the duties performed by MR. PETER PAUL YAP as the Representative for
every vehicle sold, the Representative shall be entitled to 50% (FIFTY PERCENT) of the profit

2. In consideration for the role of MR. MARVIN ARCE as the Financier for every vehicle acquired
and sold, the Financier shall be entitled to 50% (FIFTY PERCENT) of the profit.

3. “Profits” are deemed to be calculated by the sale price of a vehicle LESS the amount of purchase
and any repair/modification made to the vehicle paid for by the Financier.

4. This Agreement shall last from the date of execution until terminated by written notice from
either party.

IN WITNESS WHEREOF, we have hereunto executed this instrument on the date and place in the first
abovewritten.

Signed:

MR. MARVIN ARCE (“Financier”) MR. PETER PAUL YAP (“Representative”)


ACKNOWLEDGEMENT

BEFORE ME, a Notary Public, for and in _________________, this ______day of


__________________, personally appeared:

Name Competent Evidence of Identity

known to me and to me known to be the same persons who executed the foregoing Profit Sharing
Agreement consisting of two (2) pages, including this page wherein the acknowledgment is written,
signed by the parties, and they acknowledged to me that the same is their free and voluntary act and
deed.

WITNESS MY HAND AND SEAL on the date and at the place first above written.

Doc. No. ____;

Page No. ____;

Book No.____;

Series of 20__.

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