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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 17887
Experience:  B.A.; M.B.A.; J.D.
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All I want is an agreement that states I own 25% of my 30%

Customer Question

All I want is an agreement that states I own 25% of my 30% equity in the company after 1 year and then the equity is built up over year 2 ending with the maximum amount of 30% equity. If I quit prior to 2 years I get nothing or if there is gross negligence on my part they can fire me and I get nothing, but after 2 years if everything goes smooth I own 30% equity in the company - I don't really want to do stock or vest etc. I didn't put money in - my partner did - I am running the entire operation - we agreed to 30% equity after 2 years and we need a contract that says that. (built over 2 years in the case they fire me prior without me doing anything negligent then they would have to pay me out on my equity percent) is there a simple document I can google to do this?
Submitted: 10 months ago.
Category: Business Law
Expert:  Phillips Esq. replied 10 months ago.

Is this an LLC or Partnership?

Customer: replied 10 months ago.
It is an LLC type P
Expert:  Phillips Esq. replied 10 months ago.

Thank you for the information.

These terms should be part of your LLC's Operating Agreement. Click on the link below for sample LLC Operating Agreement:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=llc%20operating%20agreement

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