Partnership Exit Agreement Template

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Partnership Exit Agreement Template

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Partnership Exit Agreement Template (1)
Between:
[Name of the Departing Partner]
[Partner’s ID]
[Partner’s Address]
[Partner’s Phone]
[Partner’s Email]
And:
[Name of the Remaining Partner(s)]
[Remaining Partner(s) ID]
[Remaining Partner(s) Address]
Introduction:
This document formalizes the terms of exit for [Name of the Departing Partner] from the partnership effective as of [Exit Date].
Clause 1: Exit Terms
The Departing Partner agrees to relinquish all rights, title, and interest in the partnership as of the Exit Date identified above.
Clause 2: Financial Settlement
The Remaining Partner(s) agree to pay the Departing Partner a sum of [Amount] as a final financial settlement for their interest in the partnership, payable on or before [Specify Payment Date].
Clause 3: Distribution of Assets
The Remaining Partner(s) will assume full responsibility for all partnership assets and liabilities as of the Exit Date.
Clause 4: Non-Compete Clause
The Departing Partner agrees not to engage in any competitive activities within [Specify geographic area] for a period of [Specify time frame] following the exit.
Clause 5: Confidentiality
Both parties agree to maintain confidentiality regarding sensitive information related to the partnership and its operations.
Clause 6: Governing Law
This agreement shall be governed by and construed in accordance with the laws of [Jurisdiction].
Signed in [City], [Date].
Sincerely,
[Signature of the Departing Partner]
[Name of the Departing Partner]
[Signature of Remaining Partner(s)]
[Name of the Remaining Partner(s)]
Partnership Exit Agreement Template (2)
Between:
[Name of the Departing Partner]
[Partner’s ID]
[Partner’s Address]
[Partner’s Phone]
[Partner’s Email]
And:
[Name of the Remaining Partner(s)]
[Remaining Partner(s) ID]
[Remaining Partner(s) Address]
Introduction:
This agreement outlines the terms of the departure of [Name of the Departing Partner] from the partnership effective as of [Exit Date].
Clause 1: Description of Exit
The Departing Partner shall exit the partnership with full consent from the Remaining Partner(s) and will be released from all obligations thereafter.
Clause 2: Valuation of Partnership Interest
The value of the Departing Partner’s interest in the partnership has been mutually agreed upon as [Amount] based on [Valuation Method].
Clause 3: Payment Schedule
The Remaining Partner(s) agree to a payment schedule of [Specify terms] for the settlement of the partnership’s financial obligations to the Departing Partner.
Clause 4: Release and Indemnification
Both parties release each other from future claims related to the partnership after the exit date.
Clause 5: Final Review and Acceptance
Both parties acknowledge that this agreement has been fully reviewed and accepted in good faith, adhering to all terms stated herein.
Signed in [City], [Date].
Sincerely,
[Signature of the Departing Partner]
[Name of the Departing Partner]
[Signature of Remaining Partner(s)]
[Name of the Remaining Partner(s)]

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Please complete the form below to create the Partnership Exit Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

Partnership Exit Agreement Template

1. Partnership Information


2. Partner Information




3. Reasons for Exit

4. Exit Terms

5. Valuation of Partnership Interests

6. Payment Terms

7. Release and Waiver

8. Confidentiality Agreements

9. Signatures and Acceptance

10. Declaration and Signatures



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Partnership Exit Agreement Template

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Partnership Exit Agreement Template