The Partnership Exit Agreement is a crucial document used when a partner decides to leave a business partnership in Malaysia. This agreement is essential for documenting the terms of separation, protecting all parties' interests, and ensuring compliance with Malaysian partnership laws. The document becomes necessary when a partner wishes to retire, pursue other opportunities, or when partners mutually agree to end their business relationship. It includes detailed provisions for financial settlements, asset distribution, ongoing obligations, and liability arrangements. The agreement must comply with the Malaysian Partnership Act 1961 and other relevant legislation, making it a vital tool for managing partnership transitions while minimizing legal risks and potential disputes.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification of all parties to the agreement, including the exiting partner and remaining partners
2. Background: Context of the partnership and reasons for the exit arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date of Exit: Specific date when the partner's exit becomes effective
5. Purchase Price and Payment Terms: Details of the buyout amount and how/when it will be paid
6. Release of Liabilities: Mutual release of liabilities between exiting partner and remaining partners
7. Confidentiality Obligations: Ongoing confidentiality requirements for the exiting partner
8. Non-Compete and Non-Solicitation: Restrictions on the exiting partner's future business activities
9. Return of Property: Requirements for returning partnership property and documents
10. Public Announcements: Agreement on how the exit will be communicated to third parties
11. Governing Law: Specification of Malaysian law as governing law
12. Dispute Resolution: Process for resolving any disputes related to the exit
13. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc
1. Intellectual Property Rights: Required when the exiting partner has contributed to or has rights over partnership IP
2. Ongoing Projects Transition: Needed when the exiting partner has active client relationships or ongoing projects
3. Tax Indemnification: Include when there are significant tax implications or uncertainties
4. Outstanding Litigation: Required when there are pending legal matters involving the exiting partner
5. Earn-out Provisions: Include when part of the exit payment is tied to future performance
6. Client Communication Plan: Needed for professional service partnerships with significant client relationships
7. Post-Exit Consulting: Include when the exiting partner will provide transition services
1. Schedule A - Calculation of Exit Payment: Detailed breakdown of the exit payment calculation including valuation method
2. Schedule B - Partnership Assets: Complete list of partnership assets and their agreed valuation
3. Schedule C - Outstanding Liabilities: List of partnership liabilities and their allocation
4. Schedule D - Client List: List of clients and agreed arrangements for transition
5. Schedule E - Payment Schedule: Detailed timeline of installment payments if applicable
6. Appendix 1 - Partnership Agreement: Copy of the original partnership agreement for reference
7. Appendix 2 - Financial Statements: Recent financial statements used for valuation purposes
Find the exact document you need
Termination Of Dealership Agreement
A Malaysian law-governed agreement that formally terminates an existing dealership arrangement between a manufacturer/supplier and dealer, addressing all aspects of the relationship closure.
Download
Terminating A Franchise Agreement
A Malaysian law-compliant agreement for formally terminating a franchise relationship, including settlement terms and post-termination obligations.
Download
Real Estate Contract Termination
A Malaysian law-compliant agreement for terminating a real estate sale and purchase contract, including settlement terms and mutual releases.
Download
Landlord Breaks Lease Agreement
A Malaysian law-compliant agreement for landlords to formally terminate a lease before its scheduled end date.
Download
Letter Not To Renew Contract
A formal notice under Malaysian law communicating the intention not to renew an existing contract upon its expiration date.
Download
Dissolution And Termination Of Joint Venture
A Malaysian law-governed agreement for the formal dissolution and termination of a joint venture arrangement, including asset distribution and liability settlement.
Download
Deed Of Separation Employment
A Malaysian law-governed deed that formally documents the agreed terms of employment separation between an employer and employee, including payments, obligations, and mutual releases.
Download
Formal Lease Termination Letter
A legally compliant Malaysian lease termination notice that formally ends a tenancy agreement between landlord and tenant.
Download
Termination Deed
A Malaysian law-governed deed that formally terminates an existing agreement and establishes terms for concluding the business relationship.
Download
Early Release Tenancy Agreement
A Malaysian law-compliant agreement enabling the early termination of a tenancy arrangement with mutually agreed terms and conditions.
Download
Trust Termination Agreement
A Malaysian law-governed agreement that formally terminates a trust arrangement, releases trustees from their duties, and facilitates the distribution of trust assets to beneficiaries.
Download
Termination Of Contract Of Service
A formal employment termination document compliant with Malaysian employment law, outlining termination terms, final payments, and post-employment obligations.
Download
Termination Of Contract Letter To Employer
A formal employment termination letter from employee to employer under Malaysian law, including notice period and termination details.
Download
Termination Of Contract Letter To Employee
A Malaysian law-compliant formal letter notifying an employee of their employment termination, including termination terms and final settlement details.
Download
License Termination
A Malaysian law-governed agreement that formally terminates an existing license arrangement between parties, specifying termination terms and post-termination obligations.
Download
Deed Of Termination Of Shareholders Agreement
A Malaysian law-governed deed that formally terminates an existing Shareholders Agreement, releasing all parties from their obligations and specifying any surviving terms.
Download
Termination Of Shareholders Agreement
A Malaysian law-governed agreement that formally terminates an existing Shareholders Agreement, settling all related obligations and arrangements between the parties.
Download
Service Termination Letter To Customer
A formal notice compliant with Malaysian law that informs customers about the termination of services, including termination details and next steps.
Download
Residential Lease Termination Letter
A formal notice for terminating residential lease agreements under Malaysian law, outlining termination details and related arrangements.
Download
Contract Termination Acceptance Letter
A formal document under Malaysian law acknowledging and accepting the termination of a contractual relationship between parties.
Download
Cancellation Of Tenancy Agreement
A Malaysian law-compliant agreement that formally terminates an existing tenancy arrangement between landlord and tenant, outlining termination terms and mutual obligations.
Download
Termination Of Property Management Agreement
A Malaysian law-compliant agreement for terminating property management services and outlining the transition process.
Download
Lease Termination Due To Fire
A Malaysian law-compliant agreement for terminating a lease due to fire damage, addressing property damage, mutual obligations, and final settlements.
Download
Partnership Exit Agreement
A Malaysian law-governed agreement that documents the terms and conditions for a partner's withdrawal from a business partnership.
Download
Severance And Release Agreement
A Malaysian law-governed agreement that formalizes employment termination terms, severance benefits, and mutual releases between employer and employee.
Download
Real Estate Termination Agreement
A Malaysian law-governed agreement for terminating real estate contracts, including settlement terms and mutual releases.
Download
Job Separation Agreement
A Malaysian law-governed agreement that formalizes employment termination terms between employer and employee.
Download
Cancellation Of Agreement For Sale
A Malaysian law-governed agreement that formally terminates an existing sale agreement between parties, outlining termination terms and mutual releases.
Download
Termination Of Security Agreement
A Malaysian law-governed agreement that terminates existing security arrangements and releases all related security interests, charges, and encumbrances.
Download
Cancellation Of Rental Agreement
A Malaysian law-compliant agreement that formally terminates an existing rental arrangement between landlord and tenant, outlining termination terms and mutual obligations.
Download
Cancellation Of Service Contract
A Malaysian law-compliant agreement for formally terminating an existing service contract between provider and client, including termination terms and mutual obligations.
Download
Non Disclosure Agreement Employee Termination
A Malaysian law-governed agreement combining employment termination terms with non-disclosure obligations for departing employees.
Download
Cancellation Contract
A Malaysian law-governed agreement that formally terminates an existing contract by mutual consent, outlining cancellation terms and mutual releases.
Download
Exit Agreement
A Malaysian law-governed agreement documenting the terms and conditions of an employee's or director's departure from an organization, including settlements and obligations.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)