Partnership Agreement

THIS PARTNERSHIP AGREEMENT is entered into and commences on this day the TENTH
of JULY Two Thousand and Nine (10.7.2009) by

LUCIL MATHEWS of 26 Greenacre Avenue, Montego Bay

(the first partner)

and

ALLISON MOLLIE FRASER of four Paradise Buildings, Hill Road, Montego Bay
(the second partner)

HEREINAFTER referred to as ‘the partners’

THE PARTNERS agreed to form a normal partnership under the laws of Jamaica for the
purposes and on the terms and conditions stated in this agreement as follows:

1. NAME AND PLACE OF BUSINESS

The name of the partnership shall be called Mollie’s Restaurant and its principal place of
business shall be the restaurant premises at 33 Bay View Road Montego Bay until changed by
agreement of the partners but the Partnership may own property and transact business in any
place as may from time to time be agreed on by the Partners.

2. TERM
The term of this agreement shall be for two (2) years initially commencing on the date above
given and terminating on TENTH of JULY Two Thousand and Eleven (10.7.2011) unless sooner
terminated by mutual consent of the Partners and may be extended for further periods by
addendum to this Agreement.

3. PURPOSE
The purpose of the partnership is for conducting business as follows

to set up, organize and run a business known as Mollie’s Restaurant serving Jamaican home-
cooking style food.

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4. CAPITAL CONTRIBUTION
It is agreed by the partners that they will each make a capital contribution of Thirty Thousand
Jamaican Dollars (Jam $ 30,000) to set up the business and from time to time thereafter may
mutually agree to contribute additional amounts.

5. ACCOUNTS
It is agreed by the partners that just and true records of accounts shall be kept and made up to the
NINTH of JULY each year and accounts delivered to the revenue authorities by an accountancy
company yet to be agreed.

6. PROFITS AND LOSSES

It is agreed by the partners that any profits or losses arising from the business partnership are to
be divided between the partners in equal shares.

7. RESPONSIBILITY
It is agreed by and between the partners that at ALL times during the continuance of their
partnership each of them will give their attendance and make their best endeavours for their joint
interest, profit, benefit and advantage.

8. TERMINATION OF PARTNERSHIP
It is hereby agreed by the partners that at the termination of the partnership the said partners shall
within a period of thirty (30) days give a true and final account of all things relating to their
business including money goods and all over properties which after payment of the partnerships
liabilities shall be divided between them in the same percentages as were profits and losses.

9. DEATH OF A PARTNER
In the event of the death of a partner the surviving partner shall within a period of thirty (30)
days to give the legal representative of the deceased partner a true and final account of all things
relating to the partnership and within a period of ninety (90) days truly adjust all matters with the
legal representative of the deceased partner.
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SIGNED by in the presence of

……………………. ……………..........
LUCILE MATHEWS
(the first partner) in the presence of

…………………….. …………………..
ALLISON MOLLIE FRASER
(the second partner)