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Four Parties Limited liability Partnership Agreement (a LLP) will be established under local law. It provides a basic Partnership framework only. This agreement is drafted to impose loose / light obligations on the Members.
P1, P2, P3 and P4 wish to establish a limited liability partnership in [TERRITORY] under the name of [NAME] (the LLP) for the purpose of [BUSINESS].
P1, P2, P3 and P4 wish to regulate their relationship as members in the LLP and the management of the LLP in accordance with the terms of this Agreement.
Overall supervision of the Business is the responsibility of the LLP Board. The LLP Board has authority to act on behalf of the LLP in all matters in connection with the Business and will carry out its duties in such manner as the LLP Board considers to be in the best interests of the LLP.
This shareholders' agreement should be carefully read by the partners involved.
All partners should sign and return a copy, and once signed, all parties should get a copy.
To avoid any future disputes, all parties may wish to have their signatures witnessed.
If any of the parties wish to amend the agreement in the future, all parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by all parties.