PARTNERSHIP DEED

This deed of partnership is made at Lahore on this 30 December 2010 and between:

1. Mr. Chaudhry Waqar Zafar S/o Chaudhry Zafar Iqbal

N.I.C No. 35201-6992830-9
House No# E-14-A , Street #7 Officer Colony Cavalry Ground Lahore Cantt.

2. Mr. Osama Shafqat S/o Rao Shafqat.

N.I.C No. 35201-61707341-9

188-L DHA Lahore Cantt.

3. Mr. Faizan Butt S/o Najam Pervaiz Butt.

N.I.C No.34603-3926116-1
House No#1668/69 Sialkot Cantt.

4. Mr. Waqas Rafique S/o Muhammad Rafique

N.I.C No.35202-0467606-7
949-B Faisal Town Lahore.

5. Mr. Waqas Nisar S/o

N.I.C No.35202-3704800-3
529 A1 Johar Town Lahore.
(hereinafter called parties of the 1ST ,2ND ,3RD, 4TH,5TH, part respectively)

Whereas the parties above named are agreed to become partners with effect
from 30 December 2010 and form a partnership Firm under the name and started GROOVE
with its Head Office at 15 GG PHASE 4 DHA LAHORE CANTT.
The following terms and conditions have been settled mutually.

1) That the business of the firm shall be CD’S/DVD’S STORE. That the business of the
firm shall be extended with mutual consent of the partners so required.

2) That the capital of the firm shall be as per books of accounts be maintained by the firm.
The profit & loss of the business shall be shared/distributed accordingly to the following
ratio of share:-
 1. Mr. Chaudhry Waqar Zafar Partner 20%
2. Mr. Osama Shafqat Partner 20%
3. Mr. Faizan Butt Partner 20%
4. Mr. Waqas Rafique Partner 20%
5. Mr. Waqas Nisar Partner 20%
3) That partner No.1 Chaudhry Waqar Zafar shall be the Chief Executive. Mr. Osama
Shafqat will be the Financial Manager who will manage and control affairs of the firm
and keep the office Record in his custody. He will represent the firm before the officers
of the concerned departments and Banks as well. Mr. Faizan Butt will be the Director
Marketing , Mr. Waqas Rafique will be R&D Manager, Mr. Waqas Nisar will be Chief
Management Officer.
4) That the duration of the firm shall be at Will.
5) That the books of accounts shall be maintained regularly which shall be open to inspect
by the other partners.
6) That the bank accounts will be opened in the name of firm to be maintained regularly by
the all Partners.( Joint A/c.)
7) That the financial year of the partnership business shall be end on 31ST June of every
year.
8) That the firm will bear Income Tax Liability.
9) That in the event of death of any partner ,his legal heirs shall succeed his interest in
according with law.
10) That in case of any dispute, touching the affairs of partnership, the matter will be referred
to arbitration to resolve the dispute. The provision of partnership Act 1932 shall apply to
all matters not specifically mentioned in the partnership Deed.

IN WITNESSES WHEREOF all the partners have signed this Deed of partnership on the date
mentioned above.

EXECUTANTS

Mr. Chaudhry Waqar Zafar Mr. Osama Shafqat Mr. Faizan Butt Mr.Waqas Rafique Mr.WaqasNisar

WITNESSES:

_______________________ _______________________
_______________________ _______________________
_______________________ _______________________