PARTNERSHIP AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Partnership Agreement is executed this ___________ by between:(Most Wanted), a propietor duly
organized and existing in accordance with laws of the Republic of the Philippines, with principal office at
(state address), represented in this act by its President, (state name of representative), hereinafter referred to
as the FIRST PARTY;

- and–

(insert name of corporation), a corporation duly organized and existing in accordance with laws of the
Republic of the Philippines, with principal offices at (state address), represented in this act by its President,
(state name of representative), hereinafter referred to as the SECOND PARTY.

-WITNESSETH-

WHEREAS, the Parties have agreed to make contributions to a common fund for the purpose of acquiring,
holding and operating a (state nature of business) hereinafter referred to as the business interest.

WHEREAS, the Parties have agreed, in pursuit of the business interest, to enter into a Partnership pursuant
to the Partnership Laws of the Philippines.

NOW THEREFORE, the parties agree as follows:

1. NAME AND BUSINESS

The parties hereby form a partnership under the name of (state name of partnership) to conduct the business
interest. The principal office of the business shall be in (state address of the office).

2. TERM

The partnership shall commence on (state date of commencement) and shall continue to exist until
terminated as herein provided.
ARTICLE 3. Partnership
A. The Partners wish to become legal partners in business.
B. The terms and conditions of their Partnership will be outlined in this Agreement.
C. If the Agreement is executed, the Partnership will be in effect on AUGUST 5, 2019
D. The Partnership will only be terminated as outlined in this Agreement.
E. The Partnership’s primary place of business will be B128 L38 MINDANAO AVE CASA
MILAN BARANGAY GREATER LAGRO, 1100 QUEZON CITY.
F. The Partnership will be governed under the laws of the Republic of the Philippines.
G. The Partnership’s primary purpose is BIND THEMSELVES TO CONTRIBUTE MONEY,
PROPERTY OR INDUSTRY TO A COMMON FUND TO EARN AND DIVIDE THOSE
EARNINGS AMONG THEMSELVES.
H. If applicable, the Partners will obtain any necessary licenses and permits to do business, register
its Doing Business As Name (“MOST WANTED RESTOBAR AND EVENTS PLACE).
I. All of the reservation, events and concern must be transparent to each Parties.

3. CONTRIBUTIONS

The capital of the partnership shall be contributed by the partners as follows:

Partner Nature of Contribution Amount

(Cash, Property, Service, etc.)
A. Sonia A. Rental Php 170,000
Quidato
Renovation Php 45,000
Alcoholic Beverage Stocks Php 50,000
Total Amount Php 265,000
Total Shares 70.00%
B. Jason Chester Rental Php 20,000
C. Veloso
Marketing Materials/Service Php 20,000
TVC Advertising Php 110,000
Total Amount Php 150,000
Total Shares 30.00%

ARTICLE 5. Cost
The Partners will share costs according to the following percentages:
 SONIA A. QUIDATO 70%
 JASON CHESTER C. VELOSO 30%
ARTICLE 6. Profits and Loss
Each 7days of the month the partners shall determine the net profit and loss of the partnership and the
same shall be divided in the same proportion as contributions to capital. The partners, may by majority
vote, agree to distribute any surplus or may allocate surplus to the capital account of each partner. No
interest shall be paid on capital contributions. No partner shall have the right to demand repayment of
their capital contribution unless the same is through a dissolution of the partnership and a winding up
of its affairs. The partners shall be entitled to withdraw the following sums from the partnership: 20%
of profits on a weekly or monthly basis. Any and all withdrawals made shall be deducted from any
profits of the partnership. The partners shall be entitled to withraw 50% of their total shares payable up
to 3 months within a 6 month period.

ARTICLE 7. Accounting
Books of account of the transactions of the partnership shall be kept at the principal place of business
of the partnership. The books of account of the partnership shall be available for inspection by all times
by the partners. Each partner shall be required to report all transactions related to partnership business
promptly and accurately.

ARTICLE 8. Management and Authority

Each partner shall have the right to manage the affairs of the partnership in the ordinary course of the
partnership's business. However, no partner shall have the authority to:

a) confess judgment against the partnership;

b) The day to day affairs of the partnership shall be managed by a management committee, which shall
consist of 2 Partners, elected by a majority of the partners. The management committee shall conduct
the business of the partnership, and shall have the authority by its majority vote to operate all of the
business of the partnership, save those items specifically reserved to the partners as a whole.

ARTICLE 9. Termination
This partnership shall terminate upon the death, bankruptcy or incompetency of any partner. Thereupon
the remaining partners shall act as trustees for the partners and shall promptly wind up the affairs of the
partnership unless the remaining partners agree that they will continue the business of the partnership.

ARTICLE 10. End of Agreement

This Agreement will be end on 6th day of December 2019, Parties can continue the Agreement nor
renew if there’s no any dispute happen the moment one of the Parties decide not to continue. Jason
Chester C. Veloso can pullout the capital contribution amounting to P150,000 if the minimum net profit
of Php15,000 every 30 days were not met in the course of 3 months during the business.

ARTICLE 11. Dispute Resolution

Dispute Resolution The parties will attempt to resolve any dispute arising out of or relating to the
Partnership or this Agreement through friendly negotiations amongst the parties. If the matter is not
resolved by negotiation, the parties will resolve the dispute using the below Alternative Dispute
Resolution (ADR) procedure. Any controversies or disputes arising out of or relating to the Partnership
or this Agreement will be submitted to mediation in accordance with any statutory rules of mediation in
the Republic of the Philippines. If mediation does not successfully resolve the dispute or is unavailable,
the parties may proceed to seek an alternative form of resolution in accordance with any other rights
and remedies afforded to them by law.
 IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner prescribed
by law as of the Effective Date first written above.

Signatures:____________________ Date:__________________
SONIA QUIDATO

Signatures:_____________________ Date:___________________
JASON CHESTER C. VELOSO