PARTNERSHIP AGREEMENT

Management 5 of 6

Management & Exit

How are decisions made and how do partners leave?

Votes weighted by profit share % Equal voting (One partner, one vote)

Select matters requiring ALL partners to agree:

Taking business loans > R50,000 Admitting new partners Sale of the entire business

Notice Period

Buy-Out Valuation

Include **Restraint of Trade**: Exiting partners cannot compete with this business within a specific radius/period (Standard 6-12 months).

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Strategic Alignment Profit sharing & Governance optimized
Legally binding in South Africa

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