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1. Parties: Identification of all partners involved in the termination agreement
2. Background: Brief history of the partnership, reference to original partnership agreement, and reason for termination
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date of Termination: Specific date when the partnership will be officially dissolved
5. Distribution of Partnership Assets: Detailed provisions for the division and transfer of partnership assets
6. Settlement of Liabilities: Provisions for handling outstanding partnership debts and liabilities
7. Final Accounts: Process for preparation and approval of final partnership accounts
8. Mutual Release: Partners' mutual release from future claims related to the partnership
9. Confidentiality: Ongoing obligations regarding confidential partnership information
10. Client and Contract Management: Handling of existing clients, contracts, and business relationships
11. Notice to Third Parties: Requirements for notifying relevant parties of the partnership termination
12. Governing Law: Confirmation of Irish law as governing law and jurisdiction
13. Entire Agreement: Standard clause confirming this agreement supersedes previous agreements regarding termination
1. Intellectual Property Rights: Distribution and future usage rights of partnership IP, used when the partnership owns significant IP assets
2. Employee Arrangements: Provisions for handling employees if the partnership has staff
3. Ongoing Litigation: Handling of pending legal matters, included if there are active legal proceedings
4. Non-Compete Provisions: Post-termination competition restrictions, if agreed between partners
5. Insurance and Indemnification: Specific provisions for maintaining insurance coverage and handling future claims
6. Tax Matters: Detailed tax arrangements if complex tax implications exist
7. Continuing Obligations: Any obligations that survive termination, used when specific duties continue
8. Dispute Resolution: Specific procedures for resolving post-termination disputes, if needed
1. Schedule 1 - Asset Distribution: Detailed list of all partnership assets and their agreed distribution
2. Schedule 2 - Outstanding Liabilities: Comprehensive list of partnership debts and payment responsibilities
3. Schedule 3 - Client List: List of clients and agreed arrangements for future service
4. Schedule 4 - Ongoing Contracts: List of active contracts and their disposition
5. Schedule 5 - Final Accounts: Final balance sheet and profit/loss statement
6. Schedule 6 - Employee Details: List of employees and their arrangements post-termination
7. Appendix A - Required Notices: Templates for notices to be sent to clients, suppliers, and authorities
8. Appendix B - Handover Checklist: Detailed checklist of all items requiring handover or attention during termination
Legal Services
Accounting & Financial Services
Medical Practices
Architecture & Design
Engineering Consultancy
Management Consulting
Real Estate
Professional Services
Retail
Construction
Technology Services
Agricultural Partnerships
Legal
Finance
Compliance
Risk Management
Operations
Business Development
Human Resources
Administrative Support
Corporate Governance
Partnership Management
Managing Partner
Senior Partner
Partner
Legal Counsel
General Counsel
Business Development Director
Chief Executive Officer
Chief Financial Officer
Practice Manager
Company Secretary
Risk Manager
Compliance Officer
Professional Services Director
Operations Director
Partnership Administrator
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