Senior Partners Definition: Through an Independent Contractor's Agreement, Senior Partners recruit, train and manage Executive Partners in a particular territory or vertical market, and/or because of a Senior Partner's credentials, he may provide management for one of Silverback's DBAs and/or Consulting Services for SMS, LLC to market and sell, and/or a Senior Partner may desire not to manage Executive Partners and concentrate on his own sales efforts. Senior Partners also participate as advisors to the General Partners, but have no voting or management rights in the operation of Silverback Management Services, LLC until such time as they are 100% vested.

Senior Partnership Vested Interest:  Senior partners assume 15% of equity ownership, divided by the total number of Senior Partners to the LLC as defined in the Articles of Organization. 33.3% of equity ownership vested at 12 months, 66.6% vested at 24 months, and 100% vested at 36 months. Senior partners will be responsible for tax burden of total equity interest as defined in the operating agreement, regardless of vesting maturity. This is only a suggested vested interest scenario, many variables will exist in these relationships and Vested Interest will be made based on the judgment of the sponsoring partner. Only on rare occasions will the distribution option percentage be increased for this level of participation.

Senior Commission Split: Has the option of distributing 60% of the gross earnings depending on the agreement made. 20% to sponsoring General Partner and 20% to SMS. This is only a suggested split, many variables will exist in these relationships and commission splits will be made based on the judgment of the sponsoring partner. Only on rare occasions will the distribution option percentage be increased for this level of participation.

Executive Partner Description:   Executive Partners are recruited by General and Senior partners and approved by the General Partners; the recruiting partner will earn the sponsoring partner's commission, however, the Executive Partner will ultimately work under the mentorship of either a General Partner or a Senior Partner. Executive Partners may participate as Advisors to the General Partners of SMS upon invitation of the mentoring General or Senior Partner. Executive Partners have no voting or management rights in the operation of Silverback Management Services, LLC.

Executive Partnership Vested Interest: Executive partners assume 25% of equity ownership, divided by the total number of Executive Partners to the LLC as defined in the Articles of Organization. 33.3% of equity ownership vested at 12 months, 66.6% vested at 24 months, and 100% vested at 36 months. Executive Partners will be responsible for tax burden of total equity interest as defined in the operating agreement, regardless of vesting maturity. This is only a suggested vested interest scenario, many variables will exist in these relationships and Vested Interest will be made based on the judgment of the sponsoring partner. Only on rare occasions will the distribution option percentage be increased for this level of participation.

Executive Commission Split: Has the option of distributing 50% of the gross earnings depending on the agreement made. 20% to sponsoring Senior Partner, 10% to sponsoring General Partner,  20% to SMS. This is only a suggested split, many variables will exist in these relationships and commission splits will be made based on the judgment of the sponsoring partner. Only on rare occasions will the distribution option percentage be increased for this level of participation.

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