General Partner Agreement to Be Full Time

Agreement

__________________________________________, representing all of the limited partners of ___________________, a limited partnership, and ___________________________________, representing all of the general partners of ___________________, hereby agree as follows:
That the following general partner(s) shall commit full-time effort and attention to the business and affairs of the partnership:

Dated: ________________________________

General Partner
General Partner (if more than one; all must sign)

Execution by Limited Partners

Limited Partners shall execute the attached Exhibit One or provide signed duplicate originals.

Exhibit One: Names & Addresses of Limited Partners and Their Signatures

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Limited Partner Signature | Printed Name and Address | Social Security Number

Note: Add more lines as necessary to accommodate all Limited Partners.

How to Use This Sample Format

This sample format is provided to help you prepare and understand the terms of this agreement. It is a standard document that allows a General Partner to formally commit to working full time for the partnership. This step is typically taken in response to financial or operational difficulties within the partnership.
The decision for a General Partner to work full time may be made cooperatively or as part of a settlement to avoid legal action by the Limited Partners for inaction or mismanagement.

You may choose to expand this agreement by including specific duties, compensation terms, work schedules, or other relevant provisions, depending on the needs of the partnership.

Make multiple signed copies of this agreement. Distribute one to each involved party. Store at least one copy in a secure home or office location.