This Partnership Agreement (hereinafter referred to as the "Agreement") is made and entered on
this ____ day of _____ 2019 (the “effective date”), between _______________, Address
__________ (hereinafter referred to as the "Partner 1"), and _____________, Address
____________ (herein referred to as the “Partner 2”), for the business _______________
(hereinafter referred to as the “Company”).
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties
hereto, the Parties covenant and agree as follows:
The initial term of this Agreement shall be for the period of the existence of the Company,
commencing on the Effective Date herein.
2.1. The Partnership shall founded upon the establishment and existence of the
Company. Each Partner shall have a 50% ownership in the Company.
2.2. The purpose of the Company is to provide:
NOTE: A new partner shall only be added into the partnership if there is need to provide a new
concept to the business idea or for financial purposes, or for a reason justified by both Partners.
3. PARTNER OBLIGATIONS.
Page | 5 3.1. The Partners shall have express executive authority over the management of the
3.2. The Partners shall have equal responsibility in handling the social media. Partner
1 shall be in charge of recording all content for the app/website. Partner 2 shall be in
charge of the creation and maintenance of the sites
4.1. 20% of the profits shall be used for Company expenditure.
4.2. The remaining 80% shall be share equally between the Partners at a 50% share.
4.3. In case of no profits, each Partner shall contribute equally to the Company’s
NOTE: The Partners shall equally share the Company’s losses. No Partner shall have access
to/withdraw or use the Company money without the written consent of the other Partner.
Any Partner can, at any time, terminate/withdraw from this Agreement by issuing the other party
with a written three (3) months termination/withdrawal notice. The Partner shall still carry all
their obligations under this Agreement until such as a time as they leave the Company.
NOTE: In the unfortunate event that a Partner passes on or is unable, due to medical reasons or
any other reason, to make reasonable business decisions as regarding this Agreement, the Parties
mutually agree that their share in the Company shall automatically be transferred to their spouse
and then their children, if neither can accept then goes to their parents.
Page | 5 The Partners agree to keep details of this Agreement and any other confidential information
about the business idea covered under this Agreement and the dealings of the Company
confidential. Each Partners shall not use the said information without prior written consent of the
other partner except;
The information is required by law.
The information is already in the public domain.
7. DISPUTE RESOLUTION.
7.1. In the unfortunate event of any dispute about the partnership, the Partners agree to
submit in confidentiality the matter over to a mediation to be held within the State of
________, by a mutually settled upon mediator.
7.2. The Parties agree that in such an event, the details of the dispute, the
confidentiality Clause herein as well as all the details of the partnership shall remain
confidential throughout the mediation process. The costs of the mediation process shall
be borne equally by the Parties.
NOTE: The Parties do not waive any right to have the matter adjudicated by the Court if the
mediation process fails to bear the desired solutions.
8. WARRANTIES AND REPRESENTATION.
8.1. The Parties each represents and warrants that he/she is NOT party to any other
agreement that would restrict such Equity Agreement.
8.2. Each Party represents and warrants that, for the purpose of this Agreement, no
third party can claim any rights to any intellectual property or other proprietary rights
Page | 5 possessed by the said Party as it relates to the Business concept covered by this
The Partners undertake that they shall not, at any time after separation from the Company:
i. Engage in any trade or business or be associated with any person, firm or that the
Company engaged in any trade or business using the name, title or description
associated with the Company.
ii. In the course of carrying on any trade or business, claim or represent or otherwise
indicate any association with the Company.
10. GENERAL PROVISION AND INTERPRETATION.
This Agreement contains the entire Agreement between the Partners relating to the subject
matter hereof and supersedes any and all prior agreements or understandings, written or oral,
between the parties related to the subject matter hereof. No modification of this Agreement shall
be valid unless made in writing and signed by both parties hereto.
11. WAIVER AND ASSIGNMENT.
11.1. The waiver by either Partner of any breach or failure to enforce any of the terms
and conditions of this Agreement at any time shall NOT in any way affect, limit, or waive
such party’s right thereafter to enforce and compel strict compliance with every term and
condition of this Agreement.
11.2. No Party shall assign its rights or obligations under this Agreement without prior
Notice or consent by the other Party.
12. GOVERNING LAW AND JURISDICTION.
Page | 5 12.1. This Agreement shall be governed by and construed in accordance with the laws
of _______ [State/Country]. Exclusive jurisdiction and venue shall be in _____________
12.2. This Agreement shall be binding upon and inure to the benefit of the Company
and the Investor and their respective successors and assigns, provided that neither may
assign any of their obligations under this Agreement without the other Party’s prior
12.3. Each party represents and warrants to the other that such party has acted in good
faith, and agrees to continue to so act, in the negotiation, execution, delivery,
performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective
PARTNER 1. PARTNER 2.
Name: ___________________________ ___________________________________
Address: _________________________ ___________________________________
Phone Number: _____________________ ___________________________________
Email: ____________________________ ___________________________________
Signature: _________________________ ___________________________________