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1. Parties: Identification of all current partners and the partnership entity
2. Background: Context of the partnership and reasons for partner exit
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date: Specification of when the exit becomes effective
5. Partnership Interest Valuation: Agreed method and value of departing partner's interest
6. Payment Terms: Details of how and when the departing partner will be paid
7. Release of Liabilities: Mutual release of future liabilities between parties
8. Continuing Obligations: Ongoing responsibilities of the departing partner
9. Confidentiality: Obligations regarding partnership confidential information
10. Return of Property: Process for returning partnership property and documents
11. Public Announcements: Agreement on how the exit will be communicated
12. Governing Law: Confirmation of Pakistani law governance and jurisdiction
13. Dispute Resolution: Process for handling any disputes arising from the agreement
14. General Provisions: Standard boilerplate clauses including notices, amendments, etc.
1. Intellectual Property Rights: Required if the departing partner was involved in creating IP or holds rights to partnership IP
2. Non-Compete Provisions: Include if restricting the departing partner's future business activities
3. Employee Matters: Needed if the departing partner has specific relationships with employees or staff
4. Client Transition: Include if the departing partner has specific client relationships that need managing
5. International Considerations: Required if the partnership has international operations or cross-border implications
6. Tax Indemnities: Include specific tax-related provisions if complex tax implications exist
7. Outstanding Loans: Required if there are any loans or advances between the partner and partnership
8. Insurance Matters: Include if there are specific insurance policies or claims to address
1. Schedule 1 - Financial Settlement: Detailed breakdown of the financial settlement calculation
2. Schedule 2 - Asset Register: List of partnership assets and their agreed disposition
3. Schedule 3 - Client List: List of clients and agreed arrangements post-exit
4. Schedule 4 - Payment Schedule: Detailed payment terms and installment schedule if applicable
5. Schedule 5 - Outstanding Matters: List of ongoing matters requiring attention post-exit
6. Appendix A - Resignation Letters: Forms and notices required for formal resignation
7. Appendix B - Public Announcement: Agreed form of any public or client communications
8. Appendix C - Handover Checklist: Detailed list of items and tasks for business handover
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