| No partner shall receive a salary for services rendered to the partnership | Each partner shall have equal rights to manage and control the partnership and its business |
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| The remaining partner s shall pay the withdrawing or retiring partner, or to the legal representative of the deceased or disabled partner, the value of his interest in the partnership, or a the sum of his capital account, b any unpaid loans due him, c his proportionate share of accrued net profits remaining undistributed in his capital account, and d his interest in any prior agreed appreciation in the value of the partnership property over its book value |
IN WITNESS WHEREOF, the partners have duly executed this Agreement on the day and year set forth here in above.
| The profits and losses of the partnership shall be divided by the partners according to a mutually agreeable schedule and at the end of each calendar year according to the proportions listed above | In the event a partner withdraws or retires from the partnership for any reason, including death, the remaining partners may continue to operate the partnership using the same name |
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| The partnership shall be conducted under the name of … and shall maintain offices at [STREET ADDRESS], [CITY, STATE, ZIP] | The partners listed above hereby agree that they shall be considered partners in business for the following purpose: … … 2 |
Any disputes arising between the partners as a result of this Agreement shall be settled by arbitration in accordance with the rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having jurisdiction thereof.
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