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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 19117
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: 1 year ago.
Category: Business Law
Expert:  Phillips Esq. replied 1 year ago.

Is this an LLC or Partnership?

Customer: replied 1 year ago.
It is an LLC type P
Expert:  Phillips Esq. replied 1 year 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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