Joint Venture Profit Sharing Agreement Template for Nigeria

1. Non-Competition: Restrictions on parties competing with the joint venture, used when parties operate in similar industries

2. Intellectual Property Rights: Ownership and usage of IP, required when the JV involves significant IP assets

3. Technology Transfer: Terms for technology sharing and transfer, relevant for technical or manufacturing joint ventures

4. Foreign Exchange Provisions: Special provisions for handling foreign currency, needed when involving international parties

5. Local Content Requirements: Compliance with Nigerian local content laws, necessary for certain regulated industries

6. Environmental Compliance: Environmental obligations and compliance, important for manufacturing or resource extraction ventures

7. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in high-risk industries

8. Exit Mechanisms: Detailed procedures for party exit, including buy-out provisions and valuation methods

1. Schedule 1: Business Plan: Detailed business plan including market analysis and financial projections

2. Schedule 2: Initial Contributions: Itemized list of each party's initial contributions (cash, assets, or services)

3. Schedule 3: Profit Sharing Formula: Detailed calculations and examples of profit sharing mechanisms

4. Schedule 4: Management Structure: Organizational chart and management responsibilities

5. Schedule 5: Key Performance Indicators: Metrics for measuring joint venture performance

6. Schedule 6: Accounting Policies: Specific accounting procedures and policies to be followed

7. Schedule 7: Reserved Matters: List of decisions requiring special approval or unanimous consent

8. Appendix A: Required Regulatory Approvals: List of necessary permits and regulatory approvals under Nigerian law

9. Appendix B: Form of Shareholders Resolution: Template for shareholder resolutions and voting procedures