Create a Customized Partnership Agreement

Dit sjabloon is voorbereid door:

Anthony Chelidonis, Anthony Chelidonis

Instructies

It is extremely important that any proposed partnership is based upon a detailed Partnership Agreement and that such an agreement is signed prior to the start of the partnership, or as soon as possible afterward. All the partners need to be aware of their rights and responsibilities from the beginning so that the partnership can focus upon being successful.

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Name.

The name of the Partnership will be:

Purpose.

The purpose of the Partnership will be:

;

Add next purpose

Term.

The Parthership shall begin on

and will continue

as provided in this Agreement.

Place of Business.

The principal office of the business of the Partnership will be located at

or such other place as the Partners may from time to time designate.

Capital Contributions and Accounts.

Partners' Capital Contributions are as follows:

has contributed

+ In Words ;

Add next contribution

Profit and Loss.

Subject to the other provisions of this Agreement, the net profits and losses of the Partnership, for both accounting and tax purposes, will accrue to and be borne by the Partners

(the "Profit and Loss Distribution").

Decisions regarding the distribution of profits, allocation of losses, and the requirement of Additional Capital Contribution as well as all other financial matters will be decided by a

vote of the Partners.

Compensation for Services Rendered.

Partners

be compensated for services to the Partnership as from time to time may be agreed by

consent of the Partners.

Management.

Who will manage day-to-day business and sign contracts?

Except as all of the Partners may otherwise agree in writing, all actions and decisions respecting the management, operation and control of the Partnership and its business will be decided by a

vote of the Partners.

Each Partner will have authority to bind the Partnership in contract or agreement.

Meetings.

Regular meetings of the Partners will be held

can call a special meeting to resolve issues that require a vote, as indicated in this Agreement, by providing all Partners with reasonable notice. In case of a special vote, the meeting will be restricted to the specific purpose for which the meeting was held.

Actions Requiring Unanimous Consent.

The following list of actions will require the unanimous consent of all Partners:

Committing the Partnership to new liabilities or obligations totalling over

+ In Words ;

Incurring single expenditures that exceed

+ In Words ;

Selling or encumbering of any Partnership asset whose fair market value exceeds

+ In Words ;

Hiring any employee whose total compensation package exceeds

+ In Words ; per

Add next item

Duty of Loyalty.

No Partner will engage in any business, venture or transaction, whether directly or indirectly, that might be competitive with the business of the Partnership or that would be in direct conflict of interest to the Partnership without a written consent of

remaining Partners.

Add exception from the Duty of Loyatly

No Partner may:

Add next obligation

Duty to Devote Time.

Each Partner will devote such time and attention to the business of the Partnership as

Partners will from time to time determine for the conduct of the Partnership business.

Books of Account.

Fiscal year will end on the

day of

of each year.

Annual Report.

As soon as practicable after the close of each fiscal year, the Partnership will furnish to each Partner an annual report showing a full and complete account of the condition of the Partnership. This report will consist of at least the following documents:

Add next item

Audit.

Any of the Partners will have the right to request an audit of the Partnership books. The cost of the audit will be borne by

. The audit will be performed by an accounting firm decided by a

vote of the Partners. No more than

will be required by any or all of the Partners for any fiscal year.

Banking and Partnership Funds.

The funds of the Partnership will be placed in such investments and banking accounts as will be designated by the Partners. All withdrawals from these bank accounts will be made by the duly authorised agents of the Partners as agreed by

consent of the Partners. Partnership funds will be held in the name of the Partnership and will not be commingled with those of any other person or entities.

Private Profits.

New Partner.

A new partner of the Partnership (the "New Partner") may only be admitted to the Partnership with a

vote of the existing Partners.

Any New Partner agrees to be bound by all the covenants, terms and conditions of this Agreement, inclusive of all current and future amendments. In addition, a New Partner will execute such documents as are needed to effect the admission of the New Partner. Any New Partner will receive such business interest in the Partnership as determined by a

decision of the other Partners.

Withdrawal and Dissociation of Partner.

Any Partner will have the right to withdraw from the Partnership at any time (the "Voluntary Withdrawal"). Written notice of intention to withdraw must be served upon the remaining Partners at least

prior to the withdrawal date.

The Voluntary Withdrawal of any Partner

result in the dissolution of the Partnership and will have no effect upon the continuance of the Partnership's business.

Events resulting in the Involuntary Withdrawal of a Partner from the Partnership (the "Involuntary Withdrawal") will include

Add next event

Dissolution.

The Partnership will be dissolved upon a

vote of all Partners.

In the event of the dissolution of the Partnership, each Partner will share in any remaining assets or liabilities of the Partnership

(the "Dissolution Distribution").

Valuation of Interest.

In the absence of a written agreement setting a value, the value of the Partnership will be based on the fair market value appraisal of all Partnership assets (less liabilities) determined in accordance with generally accepted accounting principles (the "GAAP"). This appraisal will be conducted by an independent accounting firm agreed to by

Partners. An appraiser will be appointed within a reasonable period of the date of withdrawal or dissolution. The results of the appraisal will be binding on all Partners. A withdrawing Partner's interest will be based on that Partner’s proportion of the Dissolution Distribution of such Dissociated Partner, less any outstanding liabilities such Dissociated Partner may have to the Partnership.

Shall be Partners indemnified?

Indemnification.

Liability Insurance.

Force Majeure.

Notwithstanding the preceding, in the event such Force Majeure continues for a period of

consecutive months, either party shall have the right, but not the obligation, to serve a written notice on the other terminating this Agreement in full and each shall have no further obligation whatsoever to the other save that Company shall continue to be obliged to make payments of monies due hereunder but not paid at the date of termination.

Pronouns; Statutory References.

Interpretation.

Severability.

Assignment.

assign, transfer, charge or otherwise deal with any of its rights under this Agreement without the prior written consent of the remaining Partners.

Governing Law and Jurisdiction.

Paragraph Headings.

Counterparts.

Entire Agreement.

SIGNED, SEALED AND DELIVERED

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Anthony Chelidonis | Anthony Chelidonis

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I can draft the Partnership Agreement for you. It will be written so that it is legally enforceable and thus protects your interests to the greatest extent reasonably possible. I can provide revisions of the document, advise about clause options and discuss things with you briefly by phone/ Skype for no additional fee.
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The solicitor’s office receives payment only upon confirming the review of your document.

Phone Number (If there are additional questions about your request)

Your questions or notes for the law firm (optional):

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Create a Customized Partnership Agreement

Instructies

Partnership Agreement

Krijg dit document in PDF en Word-bestand

Producten

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Partners

Bedrijfsgrootte

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Afdelingen

Bedrijf

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Create a Customized Partnership Agreement

Instructies

Partnership Agreement

Krijg dit document in PDF en Word-bestand

Producten

Learn

Partners

Bedrijfsgrootte

Bedrijfstakken

Afdelingen

Bedrijf

Volg ons