PARTNERSHIP AGREEMENT.

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March 18, 2023

PARTNERSHIP AGREEMENT.

This Business Partnership Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between Mr. Masih Safaei, for ____________________ (hereinafter referred to as the “Partner”), Mr. Alireza Narenjkar (hereinafter referred to as the “Investor”), for a partnership in __________________ (hereinafter referred to as the “Business”).

NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:

  1. TERM.

The initial term of this Agreement shall be for a period Five Years, commencing on the Effective Date herein, and another Five Years term upon negotiation between the Parties.

  • SCOPE.
    • The Investor shall invest Two Hundred and Seventy Four Thousand Dollars ($274,000) in the Business for a partnership.
    • The Partner shall be responsible for the day-to-day business operations with the Investor’s money.
    • The Partner shall make and provide a financial statement about the business every three months.
  • PROFIT SHARING.

The partners shall share the profit from the business at 70% for Investor and 30% for the Partner, profit sharing shall be done every 3 months based on the financial statement.

  • LIABILITY.

Both parties understand and acknowledge the financial risks involved with the Business. The Partner shall do their very best to ensure that the Investor’s money is used for the sole purpose of growing the Business. The Partner does not provide any guarantees of profit margins. The Investor shall NOT hold the Partner liable in the unfortunate event that the Company makes losses or is declared bankrupt.

  • WAIVER AND ASSIGNMENT.
    • The waiver by either Party of any breach or failure to enforce any of the terms and conditions of this Agreement at any time shall NOT in any way affect, limit, or waive such party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.  
    • No Party shall assign its rights or obligations under this Agreement without prior Notice or consent by the other Party.
  • CONFIDENTIALITY.

The Parties agree to keep details of this Agreement and any other confidential information about the business covered under this Agreement and the dealings of the Business confidential. The Investor will not use the said information without prior written consent by the Partner except;

  • The information is required by law.
  • The information is already in the public domain.
  • DISPUTE RESOLUTION.

In the event of disputes arising about the execution of this Agreement and/or performance of obligations stated herein, the Parties shall solve such issues through a binding mediation process in accordance with the laws of Ontario, Canada.

  • TERMINATION/CANCELLATION.

The Parties acknowledge that either Party can terminate/cancel this Agreement at any time provided that they issue a ____ Day Written Notice on the same. In the event that the Investor wishes to terminate/cancel this Agreement and/or want their investment back, they shall issue a 180 day written notice on the same.

  • MODIFICATIONS.

This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof.  No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.

  1. GOVERNING LAW AND JURISDICTION.

This Agreement shall be governed by and construed in accordance with the laws of Ontario, Canada. Exclusive jurisdiction and venue shall be in Ontario, Canada.

Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.

IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.

PARTNER: _____________            _________________________          ___________

                      (SIGNATURE)                  (NAME)                                             (DATE)

INVESTOR: _____________            ____________________________              ___________

                            (SIGNATURE)                              (NAME)                                    (DATE)

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