The Partnership Exit Agreement is a vital legal instrument used when a partner decides to leave or is required to exit a partnership structure in Indonesia. This document becomes necessary in various scenarios, including retirement, career changes, disagreements between partners, or strategic restructuring of the business. The agreement must comply with Indonesian Civil Code (KUHPerdata) requirements and relevant business regulations, particularly Articles 1618-1652 governing partnerships. It encompasses crucial elements such as partnership interest valuation, payment terms, confidentiality obligations, non-compete provisions, and liability releases. The document serves to protect both the exiting partner and the remaining partners while ensuring a smooth transition that maintains business continuity and minimizes potential disputes.
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1. Parties: Identification of all partners, including the exiting partner and remaining partners
2. Background: Context of the partnership and reasons for the exit
3. Definitions: Key terms used throughout the agreement
4. Exit Date: Specific date when the partner's exit becomes effective
5. Partnership Interest Valuation: Agreed method and final valuation of the exiting partner's interest
6. Payment Terms: Structure, timing, and method of payment for the partner's interest
7. Release of Liabilities: Mutual release of obligations and liabilities between parties
8. Confidentiality Obligations: Ongoing confidentiality requirements for the exiting partner
9. Non-Compete and Non-Solicitation: Restrictions on the exiting partner's future business activities
10. Return of Property: Process for returning partnership property and documents
11. Announcements and Communications: Agreed approach to announcing the exit to stakeholders
12. Governing Law and Jurisdiction: Specification of Indonesian law and relevant jurisdiction
13. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc
1. Intellectual Property Rights: Required if the exiting partner has contributed to or owns IP rights
2. Ongoing Projects Handover: Needed if the exiting partner is involved in incomplete projects
3. Client Relationships: Required if the exiting partner has significant client relationships
4. Outstanding Loans: Necessary if there are partner loans to be settled
5. Dispute Resolution: Detailed dispute resolution procedures if higher risk of conflicts
6. Tax Indemnities: Specific tax-related provisions if complex tax implications exist
7. Employee Matters: Required if the exiting partner has direct reports or staff relationships
8. Insurance and Indemnification: Needed if ongoing insurance or indemnity obligations exist
1. Schedule 1 - Partnership Interest Calculation: Detailed calculation of the partnership interest value
2. Schedule 2 - Payment Schedule: Detailed payment terms and installment schedule if applicable
3. Schedule 3 - Partnership Assets: List of partnership assets and their allocation
4. Schedule 4 - Client List: List of clients and agreed handling post-exit
5. Schedule 5 - Outstanding Liabilities: List of all liabilities and their treatment
6. Schedule 6 - Confidential Information: Detailed list of what constitutes confidential information
7. Appendix A - Original Partnership Agreement: Copy of the original partnership agreement
8. Appendix B - Resignation Letter: Formal resignation letter from the exiting partner
Authors
Relevant legal definitions
Clauses
Relevant Industries
Legal Services
Professional Services
Accounting
Management Consulting
Architecture
Engineering
Medical Practices
Real Estate
Information Technology
Creative Agencies
Trading Companies
Manufacturing
Construction
Retail
Food and Beverage
Agriculture
Relevant Teams
Legal
Finance
Corporate Secretariat
Human Resources
Compliance
Risk Management
Operations
Business Development
Administration
Management
Relevant Roles
Managing Partner
Senior Partner
Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Corporate Secretary
Business Development Director
Finance Director
Managing Director
Operations Director
Human Resources Director
Compliance Officer
Risk Manager
Partnership Administrator
Business Manager
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