Supplementary Deed of Partnership
I. Introduction:
This Supplementary Deed of Partnership ("Deed") is made on [date], by and between the partners of [Name of Partnership], referred to collectively as the "Partnership," to modify certain terms and conditions of their partnership as outlined below.
II. Recitals:
Original Partnership Agreement: The partners entered into a Partnership Agreement dated [date], governing their partnership.
Modification Need: The partners mutually agree that adjustments are required to better reflect their current roles and obligations.
III. Amendments:
Rights and Responsibilities:
a. Decision-Making Authority: Modify the authority for decision-making within the Partnership to [describe modification].
b. Allocation of Duties: Review and adjust duties among partners to ensure equitable distribution and efficiency.
c. New Rights or Responsibilities: Clearly define any newly introduced rights or responsibilities.
Financial Matters:
a. Profit-Sharing Ratios: Revise profit-sharing ratios among partners to [specify new ratios].
b. Capital Contributions: Document and unanimously agree upon any changes to capital contributions or withdrawals.
Dispute Resolution:
a. Mechanisms: Refine mechanisms for resolving disputes within the Partnership to [describe modification].
b. Mediation or Arbitration: Consider introducing mediation or arbitration clauses.
IV. General Provisions:
Governing Law: This Deed is governed by the laws of [Jurisdiction].
Entire Agreement: This Deed supersedes all prior agreements and understandings.
Execution: This Deed may be executed in counterparts, each of which constitutes an original.
V. Signatures:
[Your Name]
Partner 1
Date:
[Partner 2's name]
Partner 2
Date:
In witness whereof, the parties have executed this Supplementary Deed of Partnership on the date first above written.
VI. Notarization
This document was acknowledged before me on [DATE] by [YOUR NAME] who is personally known to me or who has produced identification in the form of a valid government-issued photo identification such as a driver's license or passport.
[NOTARY PUBLIC'S NAME]
Notary Public
My Commission Expires: [EXPIRATION DATE]
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