For one partner to act for other in partnership affairs. This agreement, is made and entered into _________, 19__, in the city of _________, county of _________, state of _________, by and between A of _________, party of the first part, and B of _________, party of the second part, For and in consideration of _________ dollars paid to each other, and the covenants contained here the parties agree as follows: A is a copartner to the extent of a _________[e.g., one-quarter] interest in that business known and designated as the _________ company, sometimes designated as the _________ company, located at _________, in _________. A is unable to devote any time or take any active part in the conduct or management of the business. A and B covenant and agree as follows, namely: B agrees to act for and represent A in the conduct and management of the business so far as A's interest requires, and pay to A from the earnings of A's interest in the business during the period of A's lifetime not less than _________ dollars each and every month. A agrees to accept the sum of not less than _________ dollars each and every month for the period of her [his] life as provided, and in consideration, upon A's death the _________ interest which she has in the business shall go to B as his [her] separate property, and in the event of his [her] death prior to the death of A then upon the death of A the _________ interest in the business shall pass to the estate of B. It is further covenanted and agreed, between the parties that in the event of the sale or other disposition of the business during the lifetime of A, the parties shall agree to a fixed sum to be paid to A by B, such sum to be based upon a fair and reasonable proportion of the sale price received as A's _________ interest bears to the price received for the business. This agreement shall be binding upon the heirs, executors, administrators and assigns of the parties. _________, A _________, B Witnesses: _________ _________ As a copartner, I have no objection to this agreement. _________, C