=+For the puoses of adjustment between the partners it is agreed that the goodwill of each of

=+For the puφoses of adjustment between the partners it is agreed that the goodwill of each of the old practices shall be valued at four years purchase of the average profits of the firm for the previous five years.

No Goodwill is to appear in the books of the new firm, and partners are to bring in or withdraw cash at the end of the first year to give effect to these arrangements. It is also agreed that partners shall be deemed to be interested in the Goodwill of the new firm in the ratio of their participation in the first year's profits, including salaries where applicable.