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Addendum To Partnership Agreement

Addendum To Partnership Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Addendum To Partnership Agreement

"I need an Addendum to Partnership Agreement to add a new partner to our existing UAE trading company, with the new partner contributing AED 2 million for a 25% stake, to be effective from March 1, 2025."

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Document background
The Addendum To Partnership Agreement is a crucial document used in the United Arab Emirates business environment when partners need to modify their existing partnership arrangement without creating an entirely new agreement. This document type is particularly relevant when partners need to accommodate changes such as admitting new partners, adjusting profit-sharing ratios, updating capital contributions, or modifying management structures. It must comply with UAE Federal Law No. 2 of 2015 (Commercial Companies Law) and its amendments, making it essential for businesses operating in the UAE to work with legal professionals familiar with local regulations. The addendum serves as a bridge between the original agreement and new circumstances, ensuring continuous legal compliance while maintaining the partnership's operational efficiency.
Suggested Sections

1. Parties: Identification of all existing partners and any new partners being added through the addendum

2. Background: Reference to the original Partnership Agreement including its date, parties, and purpose, and brief explanation of why the addendum is needed

3. Definitions: Key terms used in the addendum, including references to definitions in the original agreement that remain applicable

4. Amendments to Original Agreement: Specific clauses being modified, with clear reference to original clause numbers and new replacement text

5. Effect on Original Agreement: Statement confirming that all other provisions of the original agreement remain in full force and effect

6. Governing Law and Jurisdiction: Confirmation that UAE law governs the addendum and specification of jurisdiction for dispute resolution

7. Execution: Signature blocks for all parties, including witness requirements as per UAE law

Optional Sections

1. Additional Partners: Section required only if new partners are being added to the partnership

2. Capital Contributions: Include when the addendum involves changes to partner capital contributions

3. Profit and Loss Sharing: Required when modifying the profit and loss distribution formula

4. Management Rights: Include when changing management structure or voting rights

5. Term and Termination Amendments: Include when modifying the partnership duration or termination provisions

6. Non-Compete Modifications: Required when changing restrictions on partner business activities

7. Language Clause: Required when the addendum is bilingual Arabic/English, specifying which version prevails

Suggested Schedules

1. Schedule A - Amended Partnership Terms: Detailed listing of all specific terms being modified from the original agreement

2. Schedule B - Updated Capital Contributions: If applicable, table showing revised capital contributions of all partners

3. Schedule C - Revised Profit Sharing Ratios: If applicable, detailed breakdown of new profit and loss sharing arrangements

4. Appendix 1 - Partner Resolutions: Copies of partner resolutions approving the amendments

5. Appendix 2 - Regulatory Approvals: Copies of any required regulatory approvals for the amendments

6. Appendix 3 - Updated Partner Information: Required documentation for any new partners being added

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































Clauses






























Relevant Industries

Professional Services

Trading & Distribution

Real Estate & Construction

Manufacturing

Healthcare

Hospitality & Tourism

Technology & Digital Services

Retail

Financial Services

Family Business

Consulting Services

Import/Export

Relevant Teams

Legal

Corporate Affairs

Finance

Compliance

Risk Management

Operations

Business Development

Board of Directors

Executive Leadership

Corporate Governance

Relevant Roles

Managing Partner

General Counsel

Legal Director

Chief Executive Officer

Chief Financial Officer

Business Development Manager

Corporate Secretary

Compliance Officer

Legal Counsel

Partnership Manager

Board Member

Operations Director

Finance Manager

Commercial Director

Risk Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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