Provisions to Create Phantom Partnership Interests

Create phantom partnership interests for persons who have made significant contributions (such as employees or professional advisors) by adding these provisions to your Partnership Agreement.

Each holder of phantom units is deemed included as a partner, and is entitled to distributions to partners, notwithstanding that s/he is not actually a partner. Phantom units cannot be transferred without the consent of the General Partner.

These Phantom Partnership Interest Provisions are provided in MS Word format.