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Updated almost 5 years ago,
Sweat Equity Agreement
Our real estate partnership has 3 equal partners. We have a tenant who is an engineer and is extremely handy. He has done multiple renovations for us for an hourly rate. We would like to structure a contract to have him earn up to 10% equity (3.33% from each partner) in the company over the next two years through sweat equity. He has mentioned that he is interested in getting into real estate himself and we don't want to lose him. My question - does anyone have a template for an agreement like this?