PARTNERSHIP DEED

APEX, Academy of pedagogical excellence ,SARGODHA.

1. This deed of partnership executed at Sargodha on-------------------2012 by
and among
Asghar Ali Ansari s/o NIC#--------------------------------resident of
------------ Cheque No. TA9242137 Ac/ No. 14327900224003
Kamran Masood Arif s/o Abdul Ghafoor Arif NIC#----------------
Cheque No. 9074308 Ac/ No. 0010090237
Shariq Mahtab S/o NIC# ----------------------- Cheque No. CD06838033
Ac/ No. 003301020553
Allah Bakhsh Nayyar s/o Muhammad Ramzan Cheque No. 2555730 Ac/No.
14327900606703
Muhammad Imran Cheque No. 5498502 Ac/No. 14327900230903

Legal heir/ next of kin in case of Death

Asghar Ali Ansari Aziz Kalsoom (wife)
Kamran Masood Arif Zainab Yasmeen (wife)
Shariq Mahtab Saima Shariq (wife)
Allah Bakhsh Nayyar Kalsoom Fatima (wife)
Muhammad Imran Nasreen Akhtar (mother)

2. Where all the above mentioned partners are adults and of sound mind and
have agreed to join hands for mutual gains in this partnership
wef----------------------------under terms and conditions which are being laid
down as under in order to keep contractual relations clear and beyond any
doubt.
3. Above mentioned partners are the owners of -----------------------Academy,
Sargodha on equal basis.
4. Every partner has deposited a cross-cheque of Rs. 500,000 as guarantee to
abide by the terms of the deed.
5. Prof. Shariq Mahtab has been appointed by common consent of all the
partners as custodian of the above mentioned cheques.
6. All partners are bound to continue partnership for a period of ten years i.e.
-----------2022.
7. If any partner withdraws before completion of ten years, it will be deemed
as violation of the deed. In this case his security Rs. 500,000 which he had
deposited through above mentioned cheque will be confiscated and will be
divided among the existing partners.
8. No owner/ partner can use the building for any purpose other than the same
Academy without written agreement of other partners. Neither can they sell
it without the prior permission of the Board of Directors.
9. The name and the style of the partnership will be APEX, Academy of

pedagogical excellence ,SARGODHA.

10. Every partner will deposit 10% of his income of academy every month
to meet the expenses of the academy.
11. The profit and loss in academy will be divided/ borne by the partners
on equal basis every month.
12. The affairs of the Academy will be run by the Board of Directors
comprising Asghar Ali Ansari (chairman), Kamran Masood Arif , Shariq
Mahtab, Allah Bakhsh Nayyar, Muhammad Imran. No one can impose his
 own opinion over the others. However, the problems will be settled through
common counseling. The counsel of the Chair man will be given weightage.
13. The position of the chairman will be filled through election by all the
partners on annual basis.
14. The appointment / discharge of Academy Staff will be done through
the Board of directors and decision of majority will be considered final.
15. The duties of each partner will be defined separately and nobody will
interfere with the others duties. However in case of any problems, the
matter will be brought to The Board of Directors for redefining and
adjustment.
16. All the record related to Academy will be open to all the partners for
audit or physical check and balance.
17. No single partner can use the name of Academy for his personal
benefit like taking secret loan/ grant or aid. In case of doing so his share will
be confiscated and be divided among the other partners.
18. In case any partner is expired, all his previous dues of academy on
him will be deemed as paid off/clear. His legal heir/ next of kin will have the
sole right to be either administrative partner or sleeping partner. The legal
heir/next of kin will also have a right to sell his/ her share. In such case, the
existing partners will have first right to purchase the share collectively.
19. That all provisions of partnership act 1932 which are not, contained
here in this deed shall be applicable to this partnership.
20. The Expansion of Academy will be made by the consent of all existing
partners. First right will be of the existing partners.
21. In case of dispute among partners, first attempt will be made to
resolve it through mediation by agreed mediator.
22. The terms and conditions of the deed may be altered or added to
later periodically with the common consent of the partners.
23. All the partners have read and understood the terms of the deed and
have signed it with their own free will.

Partners Signature Thumb Impression

a) Asghar Ali Ansari ------------------------ ---------------------

b) Kamran Masood Arif -------------------------- ----------------------
c) Shariq Mahtab -------------------------- -----------------------
d) Allah Bakhsh Nayyar ------------------------ ----------------------
e) Muhammad Imran ------------------------- ---------------------