Invitation to Partnership Letter
Date: July 1, 2050
Dear Gabriel Merritt and Christine Styles,
We are pleased to present this Partnership Letter outlining the terms and conditions agreed upon by all parties involved in the establishment of a Limited Liability Limited Partnership. The purpose of this partnership is to collectively pursue the goals and objectives set forth in the Invitation to Partnership Letter - HR.
Parties involved:
1. Gabriel Merritt
2. Christine Styles
Nature of partnership:
The partnership shall be regarded as a Limited Liability Limited Partnership, where all partners shall have limited liability for the debts and obligations of the partnership.
Terms and Conditions:
All partners agree to abide by the following terms and conditions:
Each partner shall contribute an equal amount of capital towards the partnership.
All decisions regarding the partnership's operations and strategic direction shall be made jointly by the partners, with unanimous consent.
Responsibilities and duties of each partner shall be as agreed upon and outlined in the Invitation to Partnership Letter - HR.
Profits and losses shall be shared equally among the partners.
Any additional terms and conditions shall be agreed upon in writing and signed by all partners.
Duration and Termination:
The partnership shall commence on July 1, 2050, and shall remain in effect until July 1, 2055, unless terminated earlier by mutual agreement of the partners or as otherwise stated in this partnership letter. Either party may terminate the partnership by providing a written notice of sixty (60) days to the other party.
Financial Details:
All financial matters, including capital contributions, profit distribution, and expense allocation, shall be recorded and documented by the partnership's designated financial officer. Detailed financial statements shall be provided to all partners on a quarterly basis.
The partnership shall maintain a separate bank account under its name, and all financial transactions related to the partnership shall be conducted through this account.
Signature Section:
By signing below, the parties acknowledge and agree to the terms and conditions set forth in this Partnership Letter.
_________________________
Gabriel Merritt (Partner)
_________________________
Christine Styles (Partner)
