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Legal zoom llc agreement download
- Legal zoom llc agreement download
Sometimes this is only required if the LLC has more than one member. Even if not required by law, an operating agreement serves three other important purposes:. Single Member vs. Multiple Member. A single member LLC operating agreement is more simple than a multiple member agreement. Rather than being taxed as a corporation, single member LLCs may choose to be taxed as a sole proprietorship, and multiple member LLCs may elect to be taxed as a partnership.
Member-managed vs. A multiple member LLC can be set up so that all of the members have the authority to run the day-to-day operations of the business member-managed , or so that a manager or management committee is designated to run the business manager-managed. Any operating agreement for LLC businesses, even a single member LLC operating agreement , typically includes the following basic types of provisions:.
The name of the LLC, and the addresses of the initial registered office and principal business office. A statement that the agreement is in accordance with the LLC laws of your state, and that the business will come into existence once the official LLC documents have been filed with the state. A statement of the purpose of the LLC, which should include the nature of the business. For most LLCs, this will state that the LLC will continue until it is terminated as provided in the operating agreement or until dissolved according to state law.
An LLC formed for a specific purpose, such as constructing and selling a commercial building, may exist for a set period of time or until a certain event occurs. Even if you are starting out on your own, there may come a time when you wish to take on one or more partners. This provision outlines the manner in which someone may acquire an interest in the LLC. If there is no such provision and you later wish to add a partner, you can always prepare an entirely new operating agreement.
Though less common, you may also find it useful to include the following provisions in your operating agreement. List the initial capital contributions and their values of each member, which can be in the form cash, property, or services.
Sometimes a business must raise additional capital. Some agreements say that no member can be required to make additional contributions, whereas others require it. Typically, each member shares in the profits or losses according to his or her percentage of interest in the business. This section can also state how often profits will be distributed. State when member meetings will be held, and include any rules regarding how, when, and where votes will be taken, how many members must be present for a quorum, how many votes are required to approve an action, etc.
Will each member get one vote, or be allocated a number of votes equal to his or her percentage of interest in the LLC? Will a majority or a unanimous vote be required? Will the LLC will be member-managed or manager-managed?
If manager-managed, details may be included such as any salary to be paid, how managers will be elected, how long they will serve, and any limitations on their authority such as what constitutes a quorum of the committee, and what types of actions require member-approval. You can designate what services members are expected to perform in operating the business, and indicate whether they will receive additional compensation for the duties they perform.
In California, we can even help you with releases and waivers of liens on your property. Fill out your form by answering a series of questions online—written in people-friendly language, not legalese. Our agents are based in the US. Categories If you don't know which form you need, look at the categories below.
Affidavit An affidavit is a sworn written statement. Bill of Sale Like a receipt, a bill of sale confirms a transfer of property. Business Whether you have a partnership, LLC, or corporation, there are many documents you'll need to formally begin or end relationships. Entertainment Entertaining is both an art and a business.
Event Planning Whether you are a wedding planner, event photographer, or a business seeking sponsorship for a company event, you'll want to know that the costs, services, and expectations are all well understood to ensure the event is a success.
Human Resources The people who work for you are your greatest asset. Intellectual Property You can protect the rights to your unique creations by asserting ownership rights to a patent, trademark, or copyright. Lending There are different types of loans, with different terms and conditions. Personal When you want to formalize a living arrangement or need services performed in your home, a written agreement can promote understanding between all parties involved. Promissory Note A promissory note is a type of loan agreement.
Real Estate If you're a tenant who wants to sublease or assign your rental property, it's important to get the right agreement to protect your interests. Back Next. Create your form Choose your form We have over legal forms for business and personal needs, all created by attorneys. Customize it to your needs Fill out your form by answering a series of questions online—written in people-friendly language, not legalese.
Who it's going to Know who this doc is going to and have the individual name and contact info ready. Which state will govern it Specify state so it's clear which state's laws apply to the document.
Subject matter Have a summary of the general nature of the new employee's job ready e. Dates Be clear about when this agreement takes effect. Compensation Know the expected salary, frequency of payment, and any bonus they may be eligible for, as well as any additional benefits.
What's an Employment Agreement? How it works. Answer simple questions and watch your doc auto-fill. Save, download your PDF, and print. Visit My Account and access it anytime. Ready to build your doc? Get Started. Sample employment agreement Customize This employment agreement is between , an individual a n the " Company " and , an individual the " Employee ". The parties therefore agree as follows: 1.
The Company hereby employs the Employee in the position of and the Employee hereby accepts this employment as of the effective date as defined in section , the "Effective Date".
During his or her employment with the Company, the Employee shall devote his or her best efforts and substantially all of his or her business time and attention except for vacation periods and reasonable periods of illness or other incapacities permitted by the Company's general employment policies to the business of the Company.
The Employee shall perform duties that are customarily associated with his or her then-current title, consistent with the operating agreement bylaws organizing documents organizing documents organizing documents organizing documents of the Company and as required by the Company.
The Employee shall perform his or her duties at any place or places as the Company reasonably designates. The employment relationship between the parties will also be governed by the general employment policies and practices of the Company. If any terms of this agreement differ from or conflict with the Company's general employment policies or practices, this agreement will control.
The term of this agreement will begin on and continue until terminated by either party in accordance with subsection b or by law. The period during which the Employee is employed under this agreement is referred to as the " Employment Period. Either party may, at any time, with or without cause, terminate this agreement by giving days' written notice to the other party.
If requested by the Company, the Employee shall continue to render his or her services pursuant to this agreement during this notice period, and will be paid his or her regular compensation until the last day of the Employee's employment the "Termination Date". Any amounts outstanding or owed by the Employee to the Company may be deducted from this severance allowance.
The Employee will be compensated for his or her services as follows: a Base Salary. The Salary may be subject to increases, as those may be determined from time to time by the Company.
If the Employee is terminated for cause or if the Employee terminates employment within year s of the Effective Date, the Employee must make a pro-rated repayment of the sign-on bonus. In accordance with the Company's practices, policies, and procedures, the Employee may be eligible for a discretionary bonus award the " Bonus ". The Bonus, if any, will be based on the performance of the Company and the Employee and will be subject to typical payroll deductions and withholdings.
A Bonus is not guaranteed compensation. The Employee is entitled to certain other nonmonetary benefits, including vacation days, sick days, holidays, and paid time off, and medical plan and and dental plan and other : , in accordance with Company policies, which may be amended from time to time. After full year s of employment, the Employee will be considered for participation in the Company's stock option plan in accordance with the terms of that plan.
All sums payable to the Employee under this agreement will be reduced by federal, state, local, and other withholdings and similar taxes and payments required by applicable law.
During the Employment Period, the Employee may have access to or receive certain information about the Company that the Company designates as confidential or that, under the circumstances surrounding disclosure, ought to be treated as confidential by the Employee " Confidential Information ".
Confidential Information includes information relating to the Company or its current or proposed business, financial statements, budgets and projections, customer identifying information, potential and intended customers, employers, products, computer programs, specifications, manuals, software, analyses, strategies, marketing plans, business plans, and other confidential information, provided orally, in writing, by drawings, or by any other media.
The Employee will treat the Confidential Information as confidential and will not disclose it to any third party or use it for any purpose but to fulfill his or her obligations in this agreement. In addition, the Employee shall use due care and diligence to prevent the unauthorized use or disclosure of that information.
The obligations and restrictions in subsection a do not apply to that part of the Confidential Information: i was or becomes publically available other than as a result of a disclosure by the Employee in violation of this agreement; ii was or becomes available to the Employee on a nonconfidential basis before its disclosure to the Employee by the Company, but only if: A.
However, the Employee shall: A. If a protective order or other remedy is not obtained or the Company grants a waiver under this agreement, the Employee may furnish that portion and only that portion of the Confidential Information that, in the written opinion of counsel reasonably acceptable to the Company, the Employee is legally compelled or otherwise required to disclose.
However, the Employee shall make reasonable efforts to obtain reliable assurance that confidential treatment will be accorded any part of the Confidential Information disclosed in this way; or iv was developed by the Employee independently without breach of this agreement. At all times during his or her employment with the Company, the Employee shall hold in strictest confidence, and not use, except for the benefit of the Company, or to disclose to any person, firm, or corporation without the prior written authorization of the Company, any of the Company's Confidential Information.
The Employee shall maintain the confidentiality and security of the Confidential Information until the earlier of: A such time as all Confidential Information disclosed under this agreement becomes publicly known and is made generally available through no action or inaction of the Employee or B the anniversary of the termination of the Employee's employment with the Company.
However, to the extent that the Company has disclosed information to the Employee that constitutes a trade secret under law, the Employee shall protect that trade secret for as long as the information qualifies as a trade secret. Money damages may not be a sufficient remedy for a breach of this section by the Employee and, in addition to all other remedies, the Company may seek and may be entitled to as a result of that breach, specific performance and injunctive or other equitable relief as a remedy.
Attached as Exhibit A to this agreement is a list of all intellectual property that the Employee made before his or her employment with the Company the "Prior Inventions" that belong to the Employee, that relate to the Company's proposed business, products, or research and development, and that are not assigned to the Company under this agreement.
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