BARRING OF GOODWILL

 

 

As a legally binding addendum and amendment to our partnership agreement dated ______________________ we, _________________________________________ and ____________________________________________________ submit the following: ______________________________________________________________________

 

In the event of retirement or death of a partner, and after determining the value of interest of that partner, it is agreed as a provision of the contractual agreement, that the estate of the deceased partner shall have no interest in the goodwill of the partnership. The goodwill of the business is not predicated upon or by the assets of the partners or the partnership, and no payments to heirs of the deceased partner are forthcoming.

 

 

 

_____________________________                       ______________

Partner                                                                      Dated

 

 

 

_____________________________                       ______________

Partner                                                                      Dated

 

 

 

_____________________________                       ______________

Witness                                                                     Dated