This document is a clause which can be inserted into a partnership agreement.
Where partners work in the business, it is common to set out their leave entitlements in the partnership agreement.
Using this precedent
This clause can be inserted into an existing partnership agreement, and can be used in the separate precedent “Partnership agreement (short form, general)”.
When inserting this optional clause into an agreement, care must be taken to ensure that the agreement remains consistent. Cross-references, definitions and schedules should all be checked.
This document has been authored for Lexis Nexis by Michael Heraghty, Partner, TressCox Lawyers, Rosemarie Ryan, Barrister and Elise Margow, Principal, Legally Speaking.
This document is prepared with the assistance of Specialist Editor Stephen Newman, Executive Counsel, Ponte Earle.