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DISSOLUTION OF PARTNERSHIP & NOTICE OF DISSOLUTION

Thi s Agreem ent m ade t he day of , 200 , bet ween , part y


of the fi rs t part and , part y of t he s econd
part

WI T NES S ET H

Where as t he part i es heret o have form ed a P art ners hi p on t he day of


, 200 , for t he purpos e of M us i c P roduct i ons under the nam e of
, and have m ai nt ai ned and cont i nued aforem ent i oned part ners hi p up t o
t he pres ent t i m e.

Where as t he part i es heret o have agreed t hat t he part ners hi p rel at i ons hi p exi s t i ng bet ween
t hem s houl d be t erm i nat ed and di s s ol ved.

Where as an account i ng of the As s et s and Li abi l i ti es of t he s ai d part ners hi p have been dul y
had by the part i es heret o, for t he purpos e of as cert ai ni ng t he share due t o each of t he part i es
heret o, And on s ai d Account i ng t he fol l owi ng was found t o be and is a True St at em ent of the
C ondit i on and the Affai rs of s uch part ners hi p,

T o Wi t:

AS S ETS :

C as h on Hand $

Out s t andi ng Account s as s hown t he s chedul e heret o annexed $

S t ock on Hand (#’s of s hares )

F i xt ures (Li s t )

TOTAL ASS ETS $

LIAB ILITIES :

M erchandi s e as l i st ed i n the s chedul e heret o annexed $

Ot her Li abi l it i es as li s t ed i n t he s chedul e heret o annexed $

T OT AL L I AB IL I T I ES $

B AL ANCE $
Whereas the parties have agreed to distribute said assets in the following manner:
FI RS T , al l Out st andi ng Account s and Expens es s hal l be pai d;

S E CO ND, al l m erchandi s e s hall be di st ri but ed equal l y am ong t he part i es ;

T H I RD, Al l P art i es s hal l recei ve t hei r res pect i ve percent ag es of t he Net P rofi t s as Herei n S et
F ort h;

P art y of the fi rs t P art s hal l recei ve % of t he Net Profi t s and


# of Shares ;
P art y of the S econd P art s hal l recei ve % of t he Net Profi t s and
# of Shares ;

NOW i n C onsi derat i on of t he aforem ent i oned Di s t ri buti on, t he P art i es heret o have and hereby
do t erm i nat e and di s s ol ve s ai d P art ners hi p and each of the P art i es heret o rel eas es t he ot her of
and from any and al l obli gat i ons growi ng out of the s ai d part ners hi p.

It Is Furt her Agreed t hat t he P art y of t he F i rst P art in C ons i derat i on of the aforem ent i oned
Di s t ri but i on, t he recei pt whereo f is hereby acknowl edg ed, * has Trans ferr ed, As s i gned and
S et Over and by t hes e P res ent s , As s i gn, Trans fer unt o P art y of the S econd P art , Al l R ight ,
Ti t l e, Int eres t and S hare of, i n and int o t he As s et s and P ropert y of every ki nd of s ai d
P art ners hi p t oget her wi t h Good Wi l l of t he Bus i nes s t hereof, t o have and t o hol d t he s am e
unt o t he s ai d P art y of the S econd P art and t o thei r Execut ors , Admi ni s t rat ors and As s i gns , t o
t hei r own Us e, B enefi t and B ehoof forever.

It Is Furt her Agreed t hat each of t hem has not As s i gned or Endors ed t he C om pany’s nam e t o
any Com m erci al P aper, or ot her Evi dence of Debt , and has not Incurred any Obl i gat i on or
Li abi l i t y, C ont i ngent or Act ual , i n behal f of s ai d P art ners hi p, except as m ent i oned or
i ncl uded in t he Account i ng herei n s et fort h.

It Is Furt her Agreed s ai d B usi nes s i n t he fut ure wi l l be conduct ed by P art y of the S econd
P art , and furt her P art y of t he S econd P art s hal l and wi l l P ay and Di s charge al l t he Com pany’s
Obl i gat i ons and Li abi l i ti es referr ed t o and m ent i oned i n t he Account i ng herei n before s et
fort h, wit hout furt her C ont ri buti on of the P art y of t he F i rs t P art .

It Is Furt her Agreed t hat P art y of t he S econd P art do hereby agree t o S ave, Indem ni fy and
Keep Harm l es s t he P art y of t he Fi rs t P art Of and F rom s uch C om pany’s Obl i gat i ons and
Li abi l i ti es and Of and F rom All Dam age, Cos t and Expens e occurri ng through the defaul t or
fai l ure of the P art y of t he S econd P art .

P art y of the Fi rs t P art P art y of the S econd P art

S t at e of , C ount y of S s .: Indi vi dual


Acknowl edgm ent

On thi s day of 20 , before m e pers onal l y cam e

t o m e known and known t o m e t o be t he i ndi vi dual (s ) des cri bed in, and who execut ed t he
foregoi ng i ns t rum ent , and t hey t hereupon dul y acknowl edged to m e that they execut ed t he
s am e .