This Deed is made at
................ on this .................. day of ............., 2000, between
A, son of ....................... resident of .................... of the ONE
PART and B, son of ................... resident of ...................of the
SECOND PART and C, son of ......................... resident of
................................... of the THIRD PART.Whereas the parties
hereto are carrying on the business of ............... under the name and style
of M/s. ......................................... at .................... upon
the terms and conditions contained in Deed of partnership dated
............................;And Whereas clause
............................ of the said partnership deed provides that all the
partners will devote their whole time and attention to the business of the
partnership;And Whereas clause
...................... of the said partnership deed further provides that no
partner shall without the consent of the other partners engage directly or
indirectly in any business other than that of the partnership;And Whereas A, one of
the partners, has been offered an assignment by
................................ which shall be completed within a period of
..................... years and the said partner will have to stay in
....................... during the said period while undertaking the said
assignment;And Whereas the said
partner has requested for the consent of the other partners for acceptance of
the assignment offered to him by ................... and they have agreed to
give consent to A to accept the said assignment and it has been agreed that so
long as he remains outside ................... for the said assignment, the partnership
deed shall be varied in the manner and to the extent hereinafter appearing:NOW THIS DEED
WITNESSETH AS FOLLOWS:1.
This
Deed is supplemental to the Deed of Partnership dated ..................... and
made between the said parties.2.
During
such period as the said partner A shall remain out of ............... for the
assignment and does not attend to the business of the partnership, he shall be
entitled only half his share of the net profits of the partnership instead of
................. % profits to which he is entitled under clause
.................... of the Deed of Partnership and the balance of share of
profits to which but for this deed the said A would have been entitled shall be
divided between the other partners in equal proportion.3.
The
said A shall not be liable to give account to the partnership for any
remuneration or other advances received by him from the ....................
for the said assignment.4.
A
shall not be entitled to any remuneration from the partnership account during
his absence pursuant to clause ......................... of any the Deed of
Partnership.5.
The
terms and condition of the Deed of Partnership dated ............. shall except
in so far as the same are modified by this agreement, continue in full force
and effect.IN WITNESS WHEREOF
the parties hereto have hereunto put and subscribed their respective hands
............................ the day and year first hereinabove written.Signed and delivered
by the within named ASigned and delivered
by the within named BSigned and delivered
by the within named CWITNESSES;1.2.