General Partner Agreement to be Full Time 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.
Suggestions:
- Make multiple copies. Give one to each related party. Keep one in a home or office safe.
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.
Click Here To Download General Partner Agreement to be Full Time