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1. Parties: Identification and details of all parties entering into the profit sharing agreement

2. Background: Context of the agreement, including the business relationship and purpose

3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Profit', 'Revenue', 'Expenses', etc.

4. Scope of Agreement: Details of the business activities covered under the profit sharing arrangement

5. Profit Sharing Structure: Core terms of the 50-50 split, including calculation methodology and frequency

6. Financial Records and Reporting: Requirements for maintaining books, accounting standards, and reporting obligations

7. Payment Terms: Timing, method, and currency of profit distribution

8. Rights and Obligations: Specific responsibilities of each party in the business operation

9. Term and Termination: Duration of the agreement and conditions for termination

10. Confidentiality: Protection of sensitive business information shared between parties

11. Dispute Resolution: Process for resolving disagreements, including jurisdiction and arbitration

12. Governing Law: Specification of Indian law as the governing law

13. General Provisions: Standard clauses including notices, amendments, and severability

1. Schedule A - Profit Calculation Methodology: Detailed formula and examples of profit calculation

2. Schedule B - Approved Business Activities: Comprehensive list of activities covered under the agreement

3. Schedule C - Financial Reporting Template: Standard format for regular financial reports

4. Schedule D - Key Personnel: List of key contacts and their roles from each party

5. Schedule E - Excluded Expenses: Items not considered as business expenses in profit calculation

6. Appendix 1 - Bank Account Details: Banking information for profit distribution

7. Appendix 2 - Compliance Checklist: Regular compliance requirements and deadlines

8. Appendix 3 - Dispute Resolution Procedures: Step-by-step process for handling disputes