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\pard\li7053\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {Sample General Partn
ership Agreement}\par\pard\li2306\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2306\r
i0\sl-213\slmult0 \fs18\cf0\par\pard\li2306\ri0\sl-466\slmult0 \fs50\cf0\f0\char
scalex100 {General Partnership Agreement}{\sub \fs24\cf0\f0\charscalex100 {**}}\
par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \f
s18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\sl
mult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\s
l-333\slmult0 \fs24\cf0\f0\charscalex100 {______________________________________
__________, residing at ____________________}\par\pard\sect\sectd\sbknone\cols2\
colno1\colw7706\colsr-0\colno2\colw3733\pard\li773\ri0\sl-173\slmult0 \fs18\cf0\
f0\charscalex100 {(name of partner)}\par\column\pard\li0\ri0\sl-160\slmult0 \fs1
8\cf0\f0\charscalex100 {(address)}\par\pard\sect\sectd\sbknone\pard\li773\ri0\sl
-306\slmult0 \fs24\cf0\f0\charscalex100 {_______________________________________
_____________and_______________________.}\par\pard\li7333\ri0\sl-173\slmult0 \fs
18\cf0\f0\charscalex100 {(name of partner)}\par\pard\li773\ri0\sl-306\slmult0 \f
s24\cf0\f0\charscalex100 {________________________________________________, resi
ding at ____________________}\par\pard\li7706\ri0\sl-173\slmult0 \fs18\cf0\f0\ch
arscalex100 {(address)}\par\pard\li773\ri0\sl-306\slmult0 \fs24\cf0\f0\charscale
x100 {______________________________________________________, hereinafter referr
ed to as the}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-
266\slmult0 \fs24\cf0\f0\charscalex100 {\uc1\u8220XPartners\uc1\u8221X agree as
follows:}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\
slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b
{1. Type of Business.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\par
d\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {The Partners voluntarily
associate themselves together as general partners for the purpose of}\par\pard\
li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f
0\charscalex100 {conducting the general business of ____________________________
___________, and any other}\par\pard\li4066\ri0\sl-160\slmult0 \fs18\cf0\f0\char
scalex100 {(type of business)}\par\pard\li773\ri0\sl-320\slmult0 \fs24\cf0\f0\ch
arscalex100 {type of business that may from time to time be agreed on by the Par
tners.}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\sl
mult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {
2. Name of Partnership.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pa
rd\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {The name of the Partner
ship shall be ____________________________________________}\par\pard\li4826\ri0\
sl-160\slmult0 \fs18\cf0\f0\charscalex100 {(name)}\par\pard\li773\ri0\sl-320\slm
ult0 \fs24\cf0\f0\charscalex100 {__________________________________. This name w
ill be registered in the office of the Secre-}\par\pard\li773\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {tary of
State as the fictitious name of the Partnership.}\par\pard\li773\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl
-293\slmult0 \fs24\cf0\f0\charscalex100\b {3. Term of Partnership.}\b0 \par\pard
\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf
0\f0\charscalex100 {The Partnership shall commence on___________________________
___________________}\par\pard\li4613\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex1
00 {(\uc1\u8220Xthe execution of this Agreement\uc1\u8221X or specify date)}\par
\pard\li773\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100 {and shall continue un
til ________________________________________________________ or}\par\pard\li3106
\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex100 {(specify date or \uc1\u8220Xdiss
olved by mutual agreement of the parties\uc1\u8221X)}\par\pard\li773\ri0\sl-320\
slmult0 \fs24\cf0\f0\charscalex100 {terminated as provided in this Agreement.}\p
ar\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs
18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {4. Place
of Business.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\r
i0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {The principal place of business of
the Partnership shall be at _____________________________,}\par\pard\li6666\ri0
\sl-173\slmult0 \fs18\cf0\f0\charscalex100 {(address)}\par\pard\li773\ri0\sl-306
\slmult0 \fs24\cf0\f0\charscalex100 {___________________________, ______________
______________, _____________________}\par\pard\sect\sectd\sbknone\cols3\colno1\
colw4146\colsr-0\colno2\colw3466\colsr-0\colno3\colw3826\pard\li773\ri0\sl-160\s
lmult0 \fs18\cf0\f0\charscalex100 {(city)}\par\column\pard\li0\ri0\sl-160\slmult
0 \fs18\cf0\f0\charscalex100 {(county)}\par\column\pard\li0\ri0\sl-173\slmult0 \
fs18\cf0\f0\charscalex100 {(state)}\par\pard\sect\sectd\sbknone\pard\li773\ri0\s
l-306\slmult0 \fs24\cf0\f0\charscalex100 {and any other place or places that may
be mutually agreed on by the parties to this Agreement.}\par\pard\li5386\ri0\sl
-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5
386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\pa
r\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-226\slmult0 \f
s24\cf0\f0\charscalex100 {1}\par\pard\sect\sectd\sbknone\pard\sect\sectd\sbkpage
\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margbsxn173\cols2\c
olno1\colw7053\colsr-0\colno2\colw4386\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs
18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slm
ult0 \fs24\cf0\f0\charscalex100\b {5. Initial Capital.}\b0 \par\column\pard\li0\
ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {Sample General Partnership Agreem
ent}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133
\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs
24\cf0\f0\charscalex100 {The initial capital of this Partnership shall be the su
m of $____________________________,}\par\pard\li6720\ri0\sl-160\slmult0 \fs18\cf
0\f0\charscalex100 {(amount)}\par\pard\li773\ri0\sl-320\slmult0 \fs22\cf0\f0\cha
rscalex100 {to which each Partner shall contribute by depositing in a checking a
ccount in the name of the}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {Partnership at the ________
_________________________ in ___________________________}\par\pard\sect\sectd\sb
knone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols2\colno1\colw6893\cols
r-0\colno2\colw4546\pard\li2586\ri0\sl-173\slmult0 \fs18\cf0\f0\charscalex100 {(
bank)}\par\column\pard\li0\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex100 {(city)
}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pa
rd\li773\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {___________________ on o
r before_____________________________, the following amounts:}\par\pard\sect\sec
td\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols2\colno1\colw1613
\colsr-0\colno2\colw9826\pard\li773\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex10
0 {(state)}\par\column\pard\li2680\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex100
{(date)}\par\pard\li0\ri0\sl-320\slmult0 \fs24\cf0\f0\charscalex100 {__________
__________________ shall contribute $ _______________}\par\pard\li0\ri0\sl-160\s
lmult0 \fs18\cf0\f0\charscalex100 {(name)}\par\pard\li0\ri0\sl-320\slmult0 \fs24
\cf0\f0\charscalex100 {____________________________ shall contribute $ _________
______}\par\pard\li0\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex100 {(name)}\par\
pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\li7
73\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-346\slmult0 \fs24\cf0\f0\c
harscalex100\b {6. Withdrawal of Capital.}\b0 \par\pard\li1133\ri0\sl-213\slmult
0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {No Pa
rtner shall withdraw any portion of the capital of the Partnership without the e
xpress}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\sl
mult0 \fs24\cf0\f0\charscalex100 {written consent of the other Partners.}\par\pa
rd\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf
0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {7. Profits and
Losses.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\s
l-266\slmult0 \fs22\cf0\f0\charscalex100 {Any net profits or losses that may acc
rue to the Partnership shall be distributed to or borne by}\par\pard\li773\ri0\s
l-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscale
x100 {the Partners.}\par\pard\li893\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li893\
ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {_________________________________
___________________________________________}\par\pard\li893\ri0\sl-173\slmult0 \
fs18\cf0\f0\charscalex100 {(in equal proportions or in the following proportions
: __________ specify proportions. e.g. [name], 60%; [name], 40%)}\par\pard\li893
\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {________________________________
____________________________________________}\par\pard\li893\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li893\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {________
____________________________________________}\par\pard\li773\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\
slmult0 \fs24\cf0\f0\charscalex100\b {8. Partnership Books.}\b0 \par\pard\li1133
\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\ch
arscalex100 {At all times during the continuation of the Partnership, the Partne
rs shall keep accurate books of}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par
\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {account in which all
matters relating to the Partnership, including all of its income, expenditures,}
\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \
fs22\cf0\f0\charscalex100 {assets, and liabilities, shall be entered. These book
s shall be kept on ________________________}\par\pard\li7293\ri0\sl-160\slmult0
\fs18\cf0\f0\charscalex100 {(Accrual or Cash)}\par\pard\li773\ri0\sl-320\slmult0
\fs24\cf0\f0\charscalex100 {basis and shall be open to examination by either Pa
rtner at any time.}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\r
i0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\chars
calex100\b {9. Fiscal Year.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\pa
r\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {The fiscal year of
the Partnership shall end on the ___________ day of ___________________}\par\par
d\li7866\ri0\sl-200\slmult0 \fs18\cf0\f0\charscalex100 {(month)}\par\pard\li773\
ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {each year.}\par\pard\li5386\ri0\s
l-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li
5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-226\slmult0 \
fs24\cf0\f0\charscalex100 {2}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn1584
0\marglsxn666\margrsxn133\pard\sect\sectd\sbkpage\pgwsxn12240\pghsxn15840\margls
xn666\margrsxn133\margtsxn666\margbsxn173\cols2\colno1\colw7053\colsr-0\colno2\c
olw4386\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult
0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-21
3\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100
\b {10. Accountings.}\b0 \par\column\pard\li0\ri0\sl-293\slmult0 \fs24\cf0\f0\ch
arscalex100 {Sample General Partnership Agreement}\par\pard\sect\sectd\sbknone\p
gwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\li1133\ri0\sl-213\slmult0 \f
s18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {A complet
e accounting of the Partnership affairs as of the close of business on the last
day of}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\sl
mult0 \fs22\cf0\f0\charscalex100 {March, June, September, and December of each y
ear shall be rendered to each Partner within}\par\pard\li773\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {________
____ days after the close of each of those months. On each accounting, the net p
rofits of}\par\pard\li773\ri0\sl-173\slmult0 \fs18\cf0\f0\charscalex100 {(Number
)}\par\pard\li773\ri0\sl-306\slmult0 \fs22\cf0\f0\charscalex100 {the Partnership
shall be distributed to the Partners as provided in this Agreement to the exten
t that}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\sl
mult0 \fs22\cf0\f0\charscalex100 {cash is available for this distribution. Excep
t as to manifest errors discovered within ____________}\par\pard\li8666\ri0\sl-1
60\slmult0 \fs18\cf0\f0\charscalex100 {(Number)}\par\pard\li773\ri0\sl-320\slmul
t0 \fs24\cf0\f0\charscalex100 {days after its rendition, each accounting shall b
e final and conclusive to each Partner.}\par\pard\li773\ri0\sl-213\slmult0 \fs18
\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmul
t0 \fs24\cf0\f0\charscalex100\b {11. Time Devoted to Partnership.}\b0 \par\pard\
li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0
\f0\charscalex100 {Each Partner shall devote his or her undivided time and atten
tion and use the utmost of his or}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {her skills and abil
ity in furtherance of the Partnership business.}\par\pard\li773\ri0\sl-213\slmul
t0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-2
93\slmult0 \fs24\cf0\f0\charscalex100\b {12. Management and Authority.}\b0 \par\
pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs2
2\cf0\f0\charscalex100 {Each Partner shall have an equal voice in the management
of the Partnership and shall have}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\
par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {authority to bind
the Partnership in making contracts and incurring obligations in the name and on
}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0
\fs22\cf0\f0\charscalex100 {the credit of the firm. However, no Partner shall in
cur any obligations in the name or on the credit}\par\pard\li773\ri0\sl-213\slmu
lt0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {of t
he firm exceeding $_____________________ without the express written consent of
the other}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266
\slmult0 \fs22\cf0\f0\charscalex100 {Partner. Any obligation incurred in violati
on of this provision shall be charged to and collected}\par\pard\li773\ri0\sl-21
3\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100
{from the individual Partner incurring the obligation.}\par\pard\li773\ri0\sl-2
13\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {13. Salaries.}\b0 \par\pard\li1
133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0
\charscalex100 {As compensation for his or her services in and to the Partnershi
p business, each Partner shall be}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {entitled to a salar
y of $______________ each month, which shall be deducted by the Partnership}\pa
r\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs2
2\cf0\f0\charscalex100 {as an ordinary and necessary business expense before det
ermination of net profits. The salary of}\par\pard\li773\ri0\sl-213\slmult0 \fs1
8\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {any Partner
may, however, be increased or reduced at any time by mutual agreement of all the
}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0
\fs24\cf0\f0\charscalex100 {Partners.}\par\pard\li5386\ri0\sl-213\slmult0 \fs18\
cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmu
lt0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\s
l-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li
5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li5386\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {3}\par\pard\sect\s
ectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\sect\sectd\sbk
page\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margbsxn173\col
s2\colno1\colw7053\colsr-0\colno2\colw4386\pard\li773\ri0\sl-213\slmult0 \fs18\c
f0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0
\fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293
\slmult0 \fs24\cf0\f0\charscalex100\b {14. Net Profits Defined.}\b0 \par\column\
pard\li0\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {Sample General Partnersh
ip Agreement}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\ma
rgrsxn133\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\sl
mult0 \fs24\cf0\f0\charscalex100 {The term \uc1\u8220Xnet profits\uc1\u8221X as
used in this Agreement shall mean the net profits of the Partnership as}\par\par
d\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0
\f0\charscalex100 {determined by generally accepted accounting principles for ea
ch accounting period provided for in}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf
0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {this Agreement.}
\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \
fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {15. Wit
hdrawal of Partner.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\l
i1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {Any Partner may withdraw fr
om the Partnership at the end of any accounting period by giving}\par\pard\li773
\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\cha
rscalex100 {the other Partner ____________________ days, written notice of his o
r her intention to do so.}\par\pard\li2426\ri0\sl-186\slmult0 \fs18\cf0\f0\chars
calex100 {(Number)}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\r
i0\sl-320\slmult0 \fs24\cf0\f0\charscalex100\b {16. Option to Purchase Terminate
d Interest.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri
0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {On dissolution of the Partnership b
y the withdrawal or other act of a Partner, the remaining}\par\pard\li773\ri0\sl
-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex
100 {Partner, on written notice to the other Partner within __________________ d
ays of the dissolution,}\par\pard\li5720\ri0\sl-160\slmult0 \fs18\cf0\f0\charsca
lex100 {(Number)}\par\pard\li773\ri0\sl-320\slmult0 \fs22\cf0\f0\charscalex100 {
may continue the Partnership business by purchasing the interest of the other Pa
rtner in the assets}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {and good will of the Partnership.
The remaining Partner shall have the option to purchase the}\par\pard\li773\ri0
\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charsca
lex100 {interest of the withdrawing Partner by paying to this Partner or the Par
tner\uc1\u8217Xs personal representa-}\par\pard\li773\ri0\sl-213\slmult0 \fs18\c
f0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {tive the value
of the interest determined as provided in Paragraph 17 of this Agreement.}\par\p
ard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\c
f0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {17. Purchase
Price of Partnership Interest.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0
\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {On exercise of t
he option described in Paragraph 16 above, the remaining Partner shall pay to}\p
ar\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs
22\cf0\f0\charscalex100 {the person who is legally entitled to it the net book v
alue of the interest as shown on the last regular}\par\pard\li773\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {acc
ounting of the Partnership preceding the dissolution together with the full unwi
thdrawn portion}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\
sl-266\slmult0 \fs22\cf0\f0\charscalex100 {of the deceased, withdrawing, or term
inated Partner\uc1\u8217Xs distributive share of any net profits earned by}\par\
pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\
cf0\f0\charscalex100 {the Partnership between the date of the accounting and the
date of dissolution of the Partnership.}\par\pard\li773\ri0\sl-213\slmult0 \fs1
8\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmu
lt0 \fs24\cf0\f0\charscalex100\b {18. Buy-Sell Agreement on Death of Partner.}\b
0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmul
t0 \fs22\cf0\f0\charscalex100 {If the Partnership is dissolved by the death of a
Partner, the remaining Partner shall have the}\par\pard\li773\ri0\sl-213\slmult
0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {obliga
tion within _________________ days from the death of the deceased partner to pur
chase the}\par\pard\li2453\ri0\sl-160\slmult0 \fs18\cf0\f0\charscalex100 {(Numbe
r)}\par\pard\li773\ri0\sl-320\slmult0 \fs22\cf0\f0\charscalex100 {interest of th
e deceased Partner in the Partnership and to pay to the personal representative
of the}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\sl
mult0 \fs22\cf0\f0\charscalex100 {deceased Partner the value of that interest as
provided in Paragraph l7 of this Agreement. During}\par\pard\li5386\ri0\sl-213\
slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\r
i0\sl-386\slmult0 \fs24\cf0\f0\charscalex100 {4}\par\pard\sect\sectd\sbknone\pgw
sxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\sect\sectd\sbkpage\pgwsxn12240
\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margbsxn173\pard\li7053\ri0\sl-
293\slmult0 \fs24\cf0\f0\charscalex100 {Sample General Partnership Agreement}\pa
r\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs1
8\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmu
lt0 \fs24\cf0\f0\charscalex100 {this _______________-day period following the de
ath of a Partner, the remaining Partner may}\par\pard\li1213\ri0\sl-173\slmult0
\fs18\cf0\f0\charscalex100 {(Number)}\par\pard\li773\ri0\sl-306\slmult0 \fs24\cf
0\f0\charscalex100 {continue the business of the Partnership but the estate or p
ersonal representative of the deceased}\par\pard\li773\ri0\sl-213\slmult0 \fs18\
cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Partner shall
not be liable for any obligations incurred in the Partnership business that are
greater}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\s
lmult0 \fs24\cf0\f0\charscalex100 {than any amount includable in the estate of t
he deceased Partner that was previously invested or}\par\pard\li773\ri0\sl-213\s
lmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {i
nvolved in the Partnership and remained so on the date of death. The estate of t
he deceased Partner}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {shall be obligated to sell his or
her Partnership interest as provided in this Agreement and shall be}\par\pard\l
i773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0
\charscalex100 {entitled, at the election of the personal representative of the
deceased Partner, either to one-half of}\par\pard\li773\ri0\sl-213\slmult0 \fs18
\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {the net profi
ts earned by the Partnership business during this _______________-day period or
to}\par\pard\li6733\ri0\sl-173\slmult0 \fs18\cf0\f0\charscalex100 {(Number)}\par
\pard\li773\ri0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {interest for the use
during this period of the deceased\uc1\u8217Xs interest in the Partnership busin
ess at the}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-26
6\slmult0 \fs24\cf0\f0\charscalex100 {rate of ______________ percent a year on t
he value of the partnership interest determined as pro-}\par\pard\li773\ri0\sl-2
13\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex10
0 {vided in Paragraph 17 of this Agreement.}\par\pard\li773\ri0\sl-213\slmult0 \
fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\s
lmult0 \fs24\cf0\f0\charscalex100\b {19. Duties of Purchasing Partner.}\b0 \par\
pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs2
4\cf0\f0\charscalex100 {On any purchase and sale pursuant to the provisions of P
aragraphs 16, 17, or 18 of this Agree-}\par\pard\li773\ri0\sl-213\slmult0 \fs18\
cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {ment, the rema
ining Partner shall assume all obligations and shall hold the withdrawing Partne
r,}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult
0 \fs24\cf0\f0\charscalex100 {the personal representative and estate of a deceas
ed Partner, and the property of any withdrawing or}\par\pard\li773\ri0\sl-213\sl
mult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {de
ceased Partner, free and harmless from all liability for these obligations. Furt
hermore, the re-}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0
\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {maining partner, at his or her own e
xpense, shall immediately cause to be prepared, filed, served,}\par\pard\li773\r
i0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\chars
calex100 {and published all notices that may be required by law to protect the w
ithdrawing Partner or the}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {personal representative or
estate of a deceased Partner from liability for the future obligations of}\par\p
ard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\c
f0\f0\charscalex100 {the partnership business.}\par\pard\li773\ri0\sl-213\slmult
0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-29
3\slmult0 \fs24\cf0\f0\charscalex100\b {20. Dissolution.}\b0 \par\pard\li1133\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\slmult0 \fs24\cf0\f0\chars
calex100 {On dissolution of the Partnership other than as provided in Paragraphs
16, 17, and 18 of this}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li
773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {Agreement, the affairs of the
Partnership shall be wound up, the assets of the Partnership liqui-}\par\pard\l
i773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0
\charscalex100 {dated, the debts paid, and the surplus divided equally among the
Partners.}\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-
213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li53
86\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par
\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs
18\cf0\par\pard\li5386\ri0\sl-280\slmult0 \fs24\cf0\f0\charscalex100 {5}\par\par
d\sect\sectd\sbkpage\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666
\margbsxn173\cols2\colno1\colw7053\colsr-0\colno2\colw4386\pard\li773\ri0\sl-213
\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {21. Notices.}\b0 \par\col
umn\pard\li0\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100 {Sample General Partn
ership Agreement}\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn66
6\margrsxn133\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-26
6\slmult0 \fs24\cf0\f0\charscalex100 {All notices between the parties provided f
or or permitted under this Agreement or by law shall}\par\pard\li773\ri0\sl-213\
slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {
be in writing and shall be deemed duly served when personally delivered to a Par
tner or, instead of}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {personal service, when deposited
in the United States mail, as certified, with postage prepaid, and}\par\pard\li7
73\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\c
harscalex100 {addressed to the partner at the address of the principal place of
business of the Partnership or to}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {another place that
may from time to time be specified in a notice given pursuant to this paragraph
as}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult
0 \fs24\cf0\f0\charscalex100 {the address for service of notice on the Partner.}
\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \
fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charscalex100\b {22. Con
sents and Agreement:}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {All consents and agreement
s provided for or permitted by this Agreement shall be in writing}\par\pard\li77
3\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\ch
arscalex100 {and a signed copy of them shall be filed and kept with the books of
the Partnership.}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-293\slmult0 \fs24\cf0\f0\charsc
alex100\b {23. Sole Agreement.}\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0
\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {This instrument
contains the sole agreement of the parties relating to their Partnership and}\pa
r\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs2
2\cf0\f0\charscalex100 {correctly sets forth the rights, duties and obligations
of each to the other in connection with is as of}\par\pard\li773\ri0\sl-213\slmu
lt0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {its
date. Any prior agreements, promises, negotiations, or representations not expre
ssly set forth in}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {this Agreement are of no force or e
ffect.}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-266\
slmult0 \fs24\cf0\f0\charscalex100 {Executed this ___________________ day of ___
______________________ , 19__________}\par\pard\li773\ri0\sl-213\slmult0 \fs18\c
f0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscalex100 {at ____________
__________________ County_________________________________(State).}\par\pard\li5
573\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5573\ri0\sl-266\slmult0 \fs24\cf0\f0
\charscalex100 {_____________________________________}\par\pard\li5560\ri0\sl-17
3\slmult0 \fs18\cf0\f0\charscalex100 {(Signature of Partner)}\par\pard\li5573\ri
0\sl-306\slmult0 \fs24\cf0\f0\charscalex100 {___________________________________
__}\par\pard\li5560\ri0\sl-173\slmult0 \fs18\cf0\f0\charscalex100 {(Signature of
Partner)}\par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1133\ri0\sl-2
66\slmult0 \fs22\cf0\f0\charscalex100 {** PLEASE NOTE: The above document is a
sample document only and will require indi-}\par\pard\li773\ri0\sl-213\slmult0 \
fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f0\charscalex100 {vidual ta
iloring to the needs and purposes of each individual general partnership. Import
ant consid-}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-2
66\slmult0 \fs22\cf0\f0\charscalex100 {erations to incorporate in every partners
hip agreement include tax issues, sharing of profits based}\par\pard\li773\ri0\s
l-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f0\charscale
x100 {on contribution and a buy-out provision.}\par\pard\li5386\ri0\sl-213\slmul
t0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl
-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5
386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\pa
r\pard\li5386\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li5386\ri0\sl-213\slmult0 \f
s18\cf0\par\pard\li5386\ri0\sl-373\slmult0 \fs24\cf0\f0\charscalex100 {6}\par}