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Partnership Agreement

This Partnership Agreement (the “Agreement”) is made and entered into on 29 Jul 2026 (the “Effective Date”), by and between:

Recitals

WHEREAS the parties wish to carry on business together as partners; and WHEREAS the parties desire to set out the terms governing their partnership; NOW THEREFORE, the parties agree as follows.

Terms & conditions

1. 1. Name & Business

   The partnership shall be carried on under the name [insert name] (the "Partnership") and shall engage in the business of [insert business activity] and any other lawful activities the partners may agree.

2. 2. Capital Contributions

   Each partner shall contribute the capital set out in Schedule A. Additional capital contributions shall be made only with the unanimous written consent of all partners.

3. 3. Profits & Losses

   Profits and losses of the Partnership shall be shared between the partners in the proportions set out in Schedule B. Distributions shall be made at least annually after retaining adequate working capital.

4. 4. Management & Decision-Making

   Day-to-day management shall be the joint responsibility of the partners. Major decisions — including taking on debt above AED 100,000, admitting new partners, or disposing of substantial assets — shall require unanimous written consent.

5. 5. Banking & Records

   The Partnership shall maintain a dedicated bank account and proper books of account, which shall be available for inspection by any partner at any reasonable time. Annual accounts shall be prepared within ninety (90) days of each financial year-end.

6. 6. Withdrawal, Death & Buy-Out

   A partner wishing to withdraw shall give ninety (90) days' written notice. The remaining partners shall have a right of first refusal to acquire the outgoing partner's interest at fair market value, determined by an independent valuer if not agreed within thirty (30) days.

7. 7. Non-Compete & Confidentiality

   During the term of the Partnership and for twelve (12) months thereafter, no partner shall engage in any business that directly competes with the Partnership within the UAE. Each partner shall keep confidential all information relating to the Partnership.

8. 8. Dispute Resolution

   The parties shall first attempt to resolve any dispute by good-faith negotiation. Failing resolution within thirty (30) days, the dispute shall be referred to mediation, and if still unresolved, to the courts of Dubai, UAE.

Governing law & jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the United Arab Emirates as applicable in the Emirate of Dubai. The parties submit to the exclusive jurisdiction of the courts of Dubai, UAE.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.