THIS PARTNERSHIP AGREEMENT is entered into on _______________ between
the following persons:
_______________ _______________ _______________
_______________ _______________ _______________
The aboe!na"ed persons agree that #pon the $o""en$e"ent date of this partnership% the& shall be dee"ed to hae be$o"e partners in b#siness' The p#rposes% ter"s and $onditions of this partnership are as follows:
(' Na"e ! The fir" na"e of the partnership shall be _______________'
)' Prin$ipal pla$e of b#siness ! The prin$ipal pla$e of b#siness of the partnership shall be _______________'
*' P#rpose ! The b#siness of the partnership is set forth below and in$l#des an& other b#siness related thereto'
+' Ter" ! The partnership shall $o""en$e on and $ontin#e #ntil dissoled b& "#t#al agree"ent of the partners'
,' -apital $ontrib#tion and distrib#tion of profits and losses:
Na"e of Partner -apital -ontrib#tion Per$entage Agreed .pon /istrib#tion Spe$ifi$ -ash 0al#e of of Profit -ontrib#tion -ontrib#tions and Loss
_______________ Spe$ified 1_______________ _______________2 Seri$es and E3pertise
_______________ 1________ 1_______________ _______________2 Spe$ified Seri$es and E3pertise
A diision of profits and losses shall be "ade at s#$h ti"e as "a& be agreed #pon b& the partners and at the $lose of ea$h fis$al &ear' The profits and losses of the partnership shall be diided between the partners a$$ording to the aboe s$hed#le'
4' -ontrol ! The partners shall hae e3$l#sie $ontrol oer the b#siness and ea$h partner shall hae e5#al rights in the "anage"ent and $ond#$t of the partnership b#siness' An& differen$e arising as to the ordinar& "atters $onne$ted with the partnership b#siness shall be de$ided b& a third part& arbitrator $hosen and agreed #pon b& the partners' An& a$t be&ond the s$ope of this partnership agree"ent or an& $ontra$t that "a& s#b6e$t this partnership to liabilit& in e3$ess of one h#ndred tho#sand dollars shall be s#b6e$t to the prior written $onsent of all of the partners'
7' /isp#tes ! /isp#tes that wo#ld 6eopardi8e new b#siness% $ontra$ts% or e3isting $lients and $annot be resoled b& the partners within _______________ da&s will be s#b"itted to a "#t#all& agreed #pon arbitrator whose de$ision will be final' An& disagree"ents or differen$es that affe$t the "anage"ent of the partnership b#siness and wo#ld 6eopardi8e new b#siness% $ontra$ts% or e3isting $lients and $annot be resoled b& the partners within _______________ da&s will be s#b"itted to an arbitration pro$ess designed to repair the partnership relationship and sole said differen$es or disp#tes'
9' Selling o#t ! If a general partner de$ides to sell their interests in the partnership b#siness to the re"aining partner the interests will be al#ed at the one half the $#rrent b#siness e5#it& pl#s two per$ent or the in effe$t $ost of liing per$entage' Pa&"ent for the interests sold shall be "ade oer a period of _______________ &ears' No general partner "a& sell their interests in the partnership b#siness to a third part& #nless it is "#t#all& agreed to b& the general partners' _______________ da&s written noti$e of proposed sell o#t to ea$h general partner b& the selling partner is re5#ired
:' /issol#tion ! In the eent of retire"ent% e3p#lsion% ban;r#pt$&% death% or insanit& of a general partner% the re"aining partners hae the right to $ontin#e the b#siness of the partnership #nder the sa"e na"e b& the"seles% or in $on6#n$tion with an& other persons the& sele$t'
Signat#res of the Partners ___________________________________ T&ped Na"e ___________________________________ T&ped Na"e