Partnership Agreement

THIS PARTNERSHIP AGREEMENT is made this __________ day of ___________, 20__, by and between the followin indi!id"als# ___________________________ ___________________________ Add$ess# __________________________ %ity&State&'IP#______________________ Add$ess# __________________________ %ity&State&'IP#______________________

() Nat"$e of *"siness) The +a$tne$s listed abo!e he$eby a $ee that they shall be ,onside$ed +a$tne$s in b"siness fo$ the followin +"$+ose# ______________________________________________________________________________ ______________________________________________________________________________ 2) Name) The +a$tne$shi+ shall be ,ond",ted "nde$ the name of ________________ and shall maintain offi,es at -STREET A..RESS/, -%IT0, STATE, 'IP/) 1) .ay2To2.ay 3+e$ation) The +a$tne$s shall +$o!ide thei$ f"ll2time se$!i,es and best effo$ts on behalf of the +a$tne$shi+) No +a$tne$ shall $e,ei!e a sala$y fo$ se$!i,es $ende$ed to the +a$tne$shi+) Ea,h +a$tne$ shall ha!e e4"al $i hts to mana e and ,ont$ol the +a$tne$shi+ and its b"siness) Sho"ld the$e be diffe$en,es between the +a$tne$s ,on,e$nin o$dina$y b"siness matte$s, a de,ision shall be made by "nanimo"s !ote) It is "nde$stood that the +a$tne$s may ele,t one of the +a$tne$s to ,ond",t the day2to2day b"siness of the +a$tne$shi+5 howe!e$, no +a$tne$ shall be able to bind the +a$tne$shi+ by a,t o$ ,ont$a,t to any liability e6,eedin P_________ witho"t the +$io$ w$itten ,onsent of ea,h +a$tne$) 7) %a+ital %ont$ib"tion) The ,a+ital ,ont$ib"tion of ea,h +a$tne$ to the +a$tne$shi+ shall ,onsist of the followin +$o+e$ty, se$!i,es, o$ ,ash whi,h ea,h +a$tne$ a $ees to ,ont$ib"te# Name Of Partner Capital Contribution Agreed-Upon Cash % Share

The +a$tne$shi+ shall maintain a ,a+ital a,,o"nt $e,o$d fo$ ea,h +a$tne$5 sho"ld any +a$tne$8s ,a+ital a,,o"nt fall below the a $eed to amo"nt, then that +a$tne$ shall 9(: ha!e his sha$e of +a$tne$shi+ +$ofits then d"e and +ayable a++lied instead to his ,a+ital a,,o"nt5 and 92: +ay any defi,ien,y to the +a$tne$shi+ if his sha$e of +a$tne$shi+ +$ofits is not yet d"e and +ayable o$, if it is, his sha$e is ins"ffi,ient to ,an,el the defi,ien,y) ;) P$ofits and <osses) The +$ofits and losses of the +a$tne$shi+ shall be di!ided by the +a$tne$s a,,o$din to a m"t"ally a $eeable s,hed"le and at the end of ea,h ,alenda$ yea$ a,,o$din to the +$o+o$tions listed abo!e) =) Te$m&Te$mination) The te$m of this A $eement shall be fo$ a +e$iod of ____ yea$s, "nless the +a$tne$s m"t"ally a $ee in w$itin to a sho$te$ +e$iod) Sho"ld the +a$tne$shi+ be te$minated by "nanimo"s !ote, the assets and ,ash of the +a$tne$shi+ shall be "sed to +ay all ,$edito$s, with the $emainin amo"nts to be dist$ib"ted to the +a$tne$s a,,o$din to thei$ +$o+o$tionate sha$e) >) .is+"tes) This Pa$tne$shi+ A $eement shall be o!e$ned by the laws of the State of _______) Any dis+"tes a$isin between the +a$tne$s as a $es"lt of this A $eement shall be settled by a$bit$ation in a,,o$dan,e with the $"les of the Ame$i,an A$bit$ation Asso,iation and ?"d ment "+on the awa$d $ende$ed may be ente$ed in any ,o"$t ha!in ?"$isdi,tion the$eof)

@) Aithd$awal&.eath of Pa$tne$) In the e!ent a +a$tne$ withd$aws o$ $eti$es f$om the +a$tne$shi+ fo$ any $eason, in,l"din death, the $emainin +a$tne$s may ,ontin"e to o+e$ate the +a$tne$shi+ "sin the same name) A withd$awin +a$tne$ shall be obli ated to i!e si6ty 9=0: days8 +$io$ w$itten noti,e of his&he$ intention to withd$aw o$ $eti$e and shall be obli ated to sell his&he$ inte$est in the +a$tne$shi+) No +a$tne$ shall t$ansfe$ inte$est in the +a$tne$shi+ to any othe$ +a$ty witho"t the w$itten ,onsent of the $emainin +a$tne$9s:) The $emainin +a$tne$9s: shall +ay the withd$awin o$ $eti$in +a$tne$, o$ to the le al $e+$esentati!e of the de,eased o$ disabled +a$tne$, the !al"e of his inte$est in the +a$tne$shi+, o$ 9a: the s"m of his ,a+ital a,,o"nt, 9b: any "n+aid loans d"e him, 9,: his +$o+o$tionate sha$e of a,,$"ed net +$ofits $emainin "ndist$ib"ted in his ,a+ital a,,o"nt, and 9d: his inte$est in any +$io$ a $eed a++$e,iation in the !al"e of the +a$tne$shi+ +$o+e$ty o!e$ its booB !al"e) No !al"e fo$ ood will shall be in,l"ded in dete$minin the !al"e of the +a$tne$8s inte$est) C) Non2%om+ete A $eement) A +a$tne$ who $eti$es o$ withd$aws f$om the +a$tne$shi+ shall not di$e,tly o$ indi$e,tly en a e in a b"siness whi,h is o$ whi,h wo"ld be ,om+etiti!e with the e6istin o$ then anti,i+ated b"siness of the +a$tne$shi+ fo$ a +e$iod of ____________, in those ________ of this State whe$e the +a$tne$shi+ is ,"$$ently doin o$ +lannin to do b"siness) IN AITNESS AHERE3D, the +a$tne$s ha!e d"ly e6e,"ted this A $eement on the day and yea$ set fo$th he$einabo!e) _______________________ Pa$tne$ _______________________ Pa$tne$