USA LLC Formation Agreement with 3 Classes of Members
This LLC Formation Agreement provides for a limited liability company to have three classes of members.
The member classes are defined by their profit and loss allocations, their share of the assets upon dissolution of the company, and their voting rights, as follows:
- Class A Investor Members receive 60% of the profits, bear 90% of the losses, and have 5 votes.
- Class B Manager Members are responsible for the management and direction of the LLC. They receive 30% of the profits, bear 10% of the losses, and have 2 votes, and are the only members to vote on company decisions which do not, by law, require the vote of all members.
- Class C Employee Members receive 10% of the profits, bear none of the losses, and have 1 vote.
The Formation Agreement can be used by LLCs anywhere in the United States. Buy the form, download, fill in, print and sign.
Last Updated: 14-Apr-2016