Party A cooperates with friends to establish a company, holding 20% of the shares. However, in terms of profit distribution, they plan to sign another agreement where Party A will take 60% of the post-tax profits. Is this agreement valid?
The profit distribution of a company should be carried out according to the shareholding ratio. For partnerships, the distribution ratio can be agreed upon. However, if they sign another agreement to adjust the company's profit distribution ratio, it can only be regarded as a gift. The contract for a gift is usually a practical contract, meaning it only takes effect after the gift has been given. Therefore, since both parties are willing to adjust the company's profit distribution ratio, it would be better to adjust the shareholding ratio of the company.
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