PARTNER RETIREMENT AGREEMENT  is entered into on 19 August 2025

Between

(1) PARTY_1_NAME, whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the “Continuing Partner A”);

(2) PARTY_2_NAME, whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the “Continuing Partner B”); and

(3) PARTY_3_NAME, residing at PARTY_3_ADDRESS_SINGLE_LINE (the “Retiring Partner”).

The Existing Partner A, Existing Partner B and the New Partner are collectively referred to as the “Partners” in this Agreement. Expressions defined in the Existing Agreement (defined below) shall have the same meaning where used in this Agreement.

Whereas

A. The Existing Partners have conducted BUSINESS_NATURE business in partnership under the name "PARTNERSHIP_NAME" (the “Name”) (the “Partnership”)

B. The Partnership is governed by the terms and conditions of the partnership agreement dated DATE(the “Existing Agreement”).

C. The New Partner has previously carried on a business in his own right (the “Previous Business”)

D. The parties have agreed that the New Partner shall be admitted as a partner in the Partnership, transferring the Previous Business to the Partnership. The Partnership shall continue to be governed by the Existing Agreement, except as varied by this Agreement.

As a witness, this Agreement has been signed by the duly authorised representatives of the parties the day and year above written.

1. Admission and duration

1.1 The New Partner shall become a partner in the Partnership as from the 19 August 2025 (the “Admission Date”).

1.2 The New Partner shall continue as a partner in the Partnership until the date of his death, retirement, deemed retirement, insanity or expulsion or until the Partnership is dissolved under the terms of the Existing Agreement.

1.3 The parties have agreed that the New Partner shall cease to operate the Previous Business from the Admission Date.

2 Profits and Loss Share