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General Partner Agreement to be Full Time

General Partner Agreement to be Full Time



General Partner Agreement to be Full Time

__________________________________________, constituting all of the limited partners of ___________________, a limited partnership, and _________________________________, constituting all of the general partners of ___________________, agree:

That the following general partners shall devote full time to the affairs of the partnership:
_____________________________________________________________

Dated: ________________________________

__________________        _______________
General Partner             General Partner (if more than one; all must sign)

Limited Partners shall sign the attached Exhibit One or duplicate originals of the same.
Exhibit One:  Names & Addresses of Limited Partners and their signatures

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

Note:  Include as many more lines as there are Limited Partners.

General Partner Agreement to be Full Time
Review List

This review list is provided to inform you about this document in question and assist in its preparation.  This is a standard approval for a General Partner to become full time.  This is often done under crisis conditions when a partnership is not doing well and the limited work out an arrangement with the General Partner to go full time to attempt to save the partnership, either in a cooperative manner or under the threat of the General Partner being sued if he does not undertake this full time responsibility.

You can add more specific duties, pay schedules, and the like to this agreement if you believe it appropriate.

1. Make multiple copies.  Give one to each related party.  Keep one in a home or office safe.





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NOTICE

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. It is provided as is, and isn’t necessarily endorsed or approved by getfreelegalforms.com. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counsel before entering into any contract or agreement.

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