As a solicitor, I would suggest having a solicitor look over it, give some independent legal advice before entering into the agreement.
Having said that, even if that does not occur, the document would be binding if adhered to, as a court, if the business turns sour, will be of the view that each party is a BUSSINESS ORINTATED PERSON and thus would have looked into the options, or at least SHOULD have looked into the options and agreement before entering into it.
It is not a situation where it is some agreement with some random on the street, it is with two parties wanting to have a business together and is treated differently and of a much higher threshold.
All I can really suggest is, if there is ANY variation of the agreement, have it in writing.
Please click accept / rate my service. I am able to answer further questions after doing so at no further cost to you.