If you are agreeing with three or more partners, add the additional parties under each section as necessary.
This Silent Partnership Agreement (herein, the "Agreement") is made and entered into by and between:
[Partner1.FirstName][Partner1.LastName] (herein, the "Partner 1"), with a mailing address of [Partner1.StreetAddress], [Partner1.City], [Partner1.State][Partner1.PostalCode], and [Partner2.FirstName][Partner2.LastName] (herein, the "Partner 2"), with a mailing address of [Partner2.StreetAddress], [Partner2.City], [Partner2.State][Partner2.PostalCode], each a party, collectively referred to herein as the "Partners," on [Document.CreatedDate].
The purpose of this Agreement is to lay out the silent partnership's terms and conditions between Partner 1 and Partner 2, in which Partner 1 will contribute (insert number)% of the capital and Partner 2 will contribute (insert number)% of the capital for (insert purpose of partnership).
III. CAPITAL CONTRIBUTION
Partner 1 shall contribute $(insert amount) in capital to the partnership, and Partner 2 shall contribute $(insert amount) in capital to the partnership. The capital contribution shall be paid in full upon execution of this Agreement.
IV. ROLES AND RESPONSIBILITIES
Partner 1 shall be responsible for the management and operation of the partnership, including making all decisions related to the business.
Partner 2 shall be a silent partner and shall not be involved in the day-to-day operations of the partnership. Partner 2's sole responsibility shall be to contribute $(insert amount) in capital to the partnership and to share in the profits and losses of the partnership as determined by the provisions of this Agreement.