Soads & Corban Limited

Partnership Agreement
Summary of Partnership
We the undersigned individuals mutually agree to a partnership on this date Thursday, July 2,
2015 to contribute GHS10, 000.00 each, summing up to GHS30,000.00 to be invested in selling
sanita brand of products as a main distributor.
We shall have a current bank account with the undersigned as signatories to the account and at
least two signatures shall be required for cash withdrawals.
Five working days after this document is signed by all partners to this agreement, each partners
contributions shall be paid into a designated bank account.
All money made from the sale of goods shall be paid to a designated bank account on the Friday
of each working week and only GHS500.00 shall be kept as petty cash imprest.
Profits shall be shared after 12 calendar months in a proportion of 33% to each partner and 1% to
charity.
The partners shall endeavor to hold regular meetings to discuss matters arising at the end of
every quarter of the year however emergency meeting can be schedule at a weeks notice to all
partners.
Decisions made at regular and emergency meetings shall be documented and shall be
acknowledged by all partners before implementation.

Soads & Corban Limited

Other Information and Business Guidelines
Name of the Company
The name of the company will be changed to Soads & Corban Limited in the next 24 months.
Nature of Business
Distribution of Sanita Products and engage in any other business that may came up with time as
agreed by all partners.
Daily Operations
The partners shall provide their full-time services and best efforts on behalf of the partnership.
No partner shall receive payment for services rendered to the partnership. Each partner shall
have equal rights to manage and control the partnership and its businesses. Should there be
differences between the partners concerning ordinary business matters, a decision shall be made
by unanimous vote. It is understood that the partners may elect one of the partners to run daily
activities of the company. A partner owes his partners a duty to act in obedience to the
partnership agreement and to any business decisions properly made by the partnership. Any
partner who violates this duty is liable individually to his partners for any resulting loss

Capital Contribution
All partners will have equal share of the company, which is 33%. No partner will exceed this
percentage and the remaining percentage goes to charity as stated above. The partnership shall
maintain a capital account record for each partner and all partners have the right to review the
accounts of the company.

Soads & Corban Limited

Profits & Losses
Profits and losses will be shared according to the number of shares each partner has as per the
partnership.
Termination
The term of this Agreement shall be for life, unless the partners mutually agree in writing to a
shorter period. Should the partnership be terminated by unanimous vote, the assets and cash of
the partnership shall be used to pay all creditors, with the remaining amounts to be distributed to
the partners according to their proportionate share.
Disputes
This Partnership Agreement shall be governed by the laws of Mother Ghana. All disputes arising
between partners maybe settled internally with all stake holders on board. However when the
internal resolution fails, the court of law will be employed as per the laws of land.
Withdrawal / Death of a Partner
In the event a partner withdraws or retires from the partnership for any reason, including death,
the remaining partners may continue to operate the partnership using the same name. A
withdrawing partner shall be obligated to give sixty (60) days prior written notice of his
intention to withdraw or retire and shall be obligated to sell his interest in the partnership to the
other partners. No partner shall transfer interest in the partnership to any other party without the
written consent of the remaining partner(s). The remaining partner(s) shall pay the withdrawing
or retiring partner, or to the legal representative of the deceased or disabled partner, the value of
his interest in the partnership, or (a) the sum of his capital account, (b) any unpaid loans due him,

Soads & Corban Limited

(c) his proportionate share of accrued net profits remaining undistributed in his capital account,
and (d) his interest in any prior agreed appreciation in the value of the partnership property over
its book value. No value for good will shall be included in determining the value of the partners
interest.
Non-Compete Agreement
A partner who retires or withdraws from the partnership shall not directly or indirectly engage in
a business which is or which would compete with the existing or then anticipated business of the
partnership for a period of two years. Current partners may not actively directly or indirectly
engage in business arrangements that compete against the partnership.
Business or Fiscal Year
The year starts on 1st January each year and ends on the 31st December each year for this
partnership
Auditors
As would be agreed between the partners, there would be an auditing firm to handle the yearly
auditing of the business. Finalized auditors report for the financials are due 4 months after the
fiscal year end.

Please endorse boldly below, if you agree to the above partnership: