Please complete this form to help us gather information for the drafting of your company operating agreement. At the bottom, you may include any specifications you would like to have customized for your company. We will review this with you after completion to make recommendations and are happy to answer questions. You can also learn more about operating agreements here. 

If you are not already a Framework client, we will get right back to you with a quote and will coordinate other necessary details with you prior to drafting your operating agreement. 

Name *
List all LLC owners and the percentage of ownership.
How will company decisions be made?
What contributions is each owner making toward the business?
When will the company make profit distributions?
Do all owners need to remain actively involved in the operation of the business in order to maintain their ownership interest?
When members earn their equity through the performance of services, it is common to have them earn their equity over time through a vesting schedule. For example, a common vesting schedule is a four year vesting schedule with a one year cliff, where each member earns 25% of their allocated equity after one year, and the remainder in 36 monthly increments thereafter. This protects the other members in case a member quits the company early.
When can members sell their equity interest outside the company?
In the event of a legal dispute, what legal forum would you like to use to resolve the dispute? ARBITRATION -- faster than litigation, but still expensive, and less opportunity to present evidence. Decisions are non-appealable. ANY LEGAL FORUM -- Permits traditional litigation and any other legal means of resolving disputes. Traditional litigation can take a long time before cases settle or get a judgment, but permits more opportunity for presenting evidence and appealing decisions.
Use this space to clarify any of your answers above.