Prompt Title: Business Agreement: 3 Owners

BUSINESS AGREEMENT

This Business Agreement ("Agreement") is made and entered into on [date] by and between Yenesys Obert, Veronica Ibarra, and Brenda Ortiz (collectively referred to as the "Owners") for their business, Glamorous Hideaway, a beauty salon located at 1150 Douglas Road, Oswego 60543.

RECITALS:

A. The Owners wish to establish their respective rights and obligations with respect to the operation of the business and the distribution of profits.

B. The Owners agree to be bound by the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Owners agree as follows:

1. Ownership

The Owners shall own Glamorous Hideaway in the following percentages: Yenesys Obert - 40%, Brenda Ortiz - 40%, and Veronica Ibarra - 20%. All decisions regarding the operation of the business shall be made jointly by the Owners, with each Owner having an equal vote.

2. Profit Sharing and Reinvestment

The Owners agree to split 60% of the business profits equally among themselves, with each Owner receiving a share proportionate to their ownership percentage. The remaining 40% of the profits shall be reinvested back into the business for future growth.

3. Management

The Owners shall manage Glamorous Hideaway jointly and shall each have the authority to act on behalf of the business, subject to the approval of the other Owners. However, each Owner shall have specific responsibilities as follows:

a. Veronica Ibarra shall be in charge of inventory management.

b. Brenda Ortiz shall be in charge of the business pages on Facebook and Instagram.

c. Yenesys Obert shall be in charge of marketing on TikTok, YouTube shorts, and Reels.

4. Decision-Making

All major decisions affecting the business, including but not limited to, purchases, sales, marketing campaigns, and staffing, shall be made jointly by the Owners. Each Owner shall have an equal vote in all decision-making processes.

5. Compensation

The Owners shall not receive salaries or any other form of compensation for their services as Owners, except for any distributions of profits made in accordance with this Agreement.

6. Term

This Agreement shall remain in effect until terminated by mutual agreement of the Owners or in accordance with the provisions set forth herein.

7. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [state], without giving effect to any choice of law or conflict of law provision or rule.

IN WITNESS WHEREOF, the Owners have executed this Agreement as of the date first above written.

Yenesys Obert________________________

Veronica Ibarra________________________

Brenda Ortiz_________________________