Partnership Dissolution Agreement - DOC

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					PARTNERSHIP DISSOLUTION AGREEMENT This Partnership Dissolution Agreement (the “Dissolution Agreement”) is made on ____________, 20__ (the “Dissolution Date”) by and between by and between _________________________, a _______________________________________[corporation] [limited liability company] [etc.] ( “Partner One”), and _______________________, a ______________________________ [corporation] [limited liability company] [etc.] (the “Partner Two”) (each a “Partner” and collectively the “Partners” ). RECITALS WHEREAS, the Partners entered into that certain partnership agreement dated as of (the “Partnership Agreement”), relating to the Partnership (as defined below) for the purpose of ________________________________________________________________ __________________________________________________________________ _______; and WHEREAS, under the terms of the Partnership Agreement, Partner One made capital contributions totaling ____________; WHEREAS, under the terms of the Partnership Agreement, Partner Two made capital contributions totaling ____________; WHEREAS, pursuant to the terms of the Partnership Agreement, the Partners have ____________________________________________; and WHEREAS, the Partners now wish to dissolve and terminate the Partnership (as defined below) pursuant to the terms and conditions of the Partnership Agreement and this Dissolution Agreement; NOW, THEREFORE, in consideration of the premises and the mutual agreements and representations contained herein, the Partners hereby agree as follows:

1. DISSOLUTION. In accordan
Description: A change in the business climate or individual goals may signal that it’s time to terminate a partnership and release the parties from their duties. Note that dissolutions are not ends in themselves: they may open avenues of discussion with the other party or parties. A well-drafted partnership dissolution agreement can both terminate the parties’ commitments and help prevent future misunderstandings and disputes. This packet is designed to help you create an agreement that will work for you and your business, but it too is just a starting point. Consult with your partners to construct a dissolution that will fit with your precise needs.
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