Sample Portion of Agreement
General Partnership Agreement
Partners Names: ________________________________________________
(Print Names)
________________________________________________
________________________________________________
Partnership Name: ______________________________________________
Project Name: ______________________________________________
Project Genre: ______________________________________________
(Film, Music Video, Documentary, etc.)
This agreement is made between the above named Partners, collectively known as “Partners”, and individually known as a “Partner”.
WHEREAS the above named Partners have agreed to enter into a partnership to carry on the above named Project.
IN CONSIDERATION of the Premises and the valuable Covenants contained in this Agreement, and other good and valuable consideration (the receipt and sufficiency of which is acknowledged by each of the Partners), the Partners agree as follows:
1. The Partners agree that the effective date for the Partnership beginning is _______________, 20____. The Fiscal Year shall end on ________________.
2. The Partnership name shall be ____________________________________.
3. The business of the Partnership shall be to carry out the above named Project.
4. The term of the Partnership shall be the earlier of:
(i) the natural agreed voluntary termination of the above named Project by the Partners
(ii) the date of dissolution by Law
(iii) the dissolution of the Partnership by the departure of one or more Partners.
5 Each of the Partners shall have a Partnership Interest equal to the percentages set below, namely:
Partner Name and percent of Partnership: ____________________________
(Print)
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
6. The Net Profits of the Partnership shall be divided in accordance to each Partner’s Partnership Interest.
7. The expenses and losses of the Partnership in any one Partnership Year shall first be paid out of the earnings of the Partnership for that year, and if such earnings shall be insufficient to pay any or all expenses and losses as mentioned, the deficiency in funds shall, unless otherwise agreed, be made up by . . . (continued)
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