1. THIS AGREEMENT MADE this 28th day of September 2016.
BETWEEN:
RAYANNE KHAN, of the City of Toronto,
in the Province of Ontario
hereinafter referred to as "Khan"
-and-
GIDDY BABY INC, a Corporation incorporated under
the laws of the Province of Ontario, having its registered
office in the City of Oshawa, Region of Durham
hereinafter referred to as "Giddy"
WHEREAS Khan and Giddy (the "Partners") have been carrying on a Partnership under the
name of A-One Investments;
AND WHEREAS the Partners wish to set down in writing their respective rights with respect to
the aforementioned Partnership;
NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the
mutual covenants and agreements herein contained, the parties here to agree as follows:
1. The name of the Partnership shall continue to be A-One Investments, the business of the
Partnership shall be investment consultants, and the place of business shall be 123 ABC Drive, Oshawa,
Ontario L1K 5E2.
2. The term of the Partnership shall commence on the 28th day of September 2016, and shall
continue until one month after one Partner has notified the other partner in writing of the Partner's
intention to withdraw from the Partnership.
3. (a) The capital of the firm shall be $150,000.00 to be contributed in equal cash amounts of
$75,000.00 each on the signing of the Agreement.
(b) Neither party's contribution to the Partnership shall bear interest.
4. The Partnership capital and all other Partnership monies shall be deposited in he King Arthur and
Camelot branch of the Big Bucks Bank from which all withdrawals shall be only by cheques signed
jointly by Khan and the Secretary of Giddy.
5. (a) Books of accounts shall be kept in accordance with standard accounting procedures.
2. -2-
(b) These books shall be kept on the premises and shall be open to the inspection of either
Partner.
6. Each Partner shall be entitled to draw $700.00 per week from the funds of the Partnership on
account of his profits.
7. (a) At the end of November of every year, an inventory shall be taken and the assets, liabilities,
and gross and net income of the business ascertained.
(b) The net profit or net loss shall be divided equally between the Partners and the account of
each shall be credited or debited accordingly.
8. Neither Partner shall, without the written consent of the other, draw, accept, sign, or endorse any
bill of exchange, promissory note, or cheque, or contract any debt on account of, or in the name of the
Partnership, except in the normal course of business and up to the amount of $500.00.
9. Khan shall devote her whole time and attention to the Partnership business ad shall not, during
the term of the Partnership, engage in any other business. Giddy shall take no part in the management of
the Partnership.
10. Should Khan die, her estate trustees shall be entitled to receive the value of her share of the
Partnership property at the time of her death, together with 8 percent interest, in lieu of profit, from that
day until final settlement of the property.
11. On termination or dissolution or the Partnership, other than by the death of Khan, an adult shall
immediately be made of the firm's assets and liabilities and the balance divided equally between the
Partners, provided that the liability of Giddy be limited to $75,000.00.
12. (a) In the event of a disagreement between the Partners as to the conduct of the business, as to its
dissolution, or as to any other matter concerning the business, the same shall be referred to arbitration
within ten days of one Partner serving written notice on the other.
(b) Each Partner shall appoint one arbitrator who shall, in turn, appoint a third arbitrator.
(c) the matter referred to arbitration shall be decided by a simple majority of the arbitrators.
IN WITNESS WHEREOF the party of the first part has hereinto set his hand and seal, and the
party of the second part has hereto affixed its corporate seal attested by the hands of its proper officers
duly authorized in that behalf.
SIGNED, SEALED AND DELIVERED ______________________L.S.
in the presence of Rayanne Khan
GIDDY BABY INC
Per: _____________________
President