Restaurant Partnership Agreement

[Restaurant.Name] Partnership Agreement

This restaurant partnership agreement, entered into on [Agreement.CreatedDate], by and
between , and , hereafter collectively known as the
Partners, shall govern the founding, governance, and operation of the business venture listed
below, hereafter known as the Restaurant:

Restaurant Details
Business Name:
Business Address:
Business Description:

Partnership Terms
Whereas the Partners wish to collaborate in the ownership, governance, and operation of the
Restaurant, the Partners agree to the following:

1. The Partners agree to register the Restaurant as a limited liability corporation in

[Restaurant.City], [Restaurant.State]. Each of the Partners shall hold an equal share of
ownership in the Restaurant.
2. The Restaurant's principle place of business shall be the address listed above. All records
related to the partnership or the Restaurant shall be maintained at this address.
3. This restaurant partnership agreement shall commence as of the date it is signed by both
partners, and shall continue indefinitely until rightfully dissolved by either partner.
4. The Partners agree to make equal capital and time contributions as necessary to ensure
the success of the Restaurant.
5. The Partners agree to make joint decisions regarding the operation of the Restaurant.
Neither partner shall make decisions related to the strategy or operation of the Restaurant
without consulting the other Partner.
6. The Partners agree to designate a hired individual as a general manager for the
Restaurant Partnership Agreement

Restaurant. This individual shall be responsible for the daily operation of the Restaurant
and shall be granted decision making authority commensurate with such a position.
7. The Partners shall establish accounts at [Restaurant.Bank] for the Restaurant's financial
needs. All capital contributions shall be deposited to this account. No withdrawals shall be
made from this account by either Partner without approval from both Partners.
8. Neither Partner shall enter into any additional partnerships, contracts, or ventures related to
the Restaurant without approval from the other Partner.
9. The Partners may continue to engage in additional, non-related business interests, but
must disclose those ventures to the other Partner.
10. The Partners shall receive compensation from the Restaurant in the form of profit shares,
to be calculated and distributed equally on an annual basis.
11. This restaurant partnership agreement may be terminated due to bankruptcy, or by either
partner via written notification to the other Partner. In the event that one of the Partners
wishes to continue to own and operate the Restaurant, the resigning partner shall be
obligated to sell their share of the Restaurant to the remaining partner.
12. If both Partners agree to dissolve the restaurant partnership and cease operation of the
restaurant, all assets shall be liquidated, with proceeds being used to resolve any of the
Restaurant's outstanding debts before remaining proceeds are equally distributed between
the partners.
13. Should one of the Partners pass away or become otherwise unable to reasonably
participate in ownership and governance of the Restaurant, they shall be compelled to sell
their interest in the Restaurant to the remaining Partner.
14. No new partners shall be considered without approval of all existing Partners.
15. This restaurant partnership agreement constitutes the entire agreement between the
Partners.
16. This restaurant partnership agreement shall be governed in accordance with the applicable
laws of the city and state in which the Restaurant has it's principle address.

Acceptance
In witness whereof, the Partners hereby enter into this restaurant partnership agreement as of
the dates signed below.

Signed By: Signed By:

Restaurant Partnership Agreement

______________________________ ______________________________

Date: Date: