Llc Separation Agreement Template

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LLC Separation Agreement Template

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LLC Separation Agreement Template (1)
Between:
[Name of Member 1]
[Member 1’s ID]
[Member 1’s Address]
[Member 1’s Phone]
[Member 1’s Email]
And:
[Name of Member 2]
[Member 2’s ID]
[Member 2’s Address]
Introduction:
This document formalizes the separation agreement between the members of [LLC Name] effective as of [Effective Date].
Clause 1: Separation Terms
The members agree to the terms of separation, including the division of assets and liabilities as detailed herein.
Clause 2: Asset Distribution
The following assets will be distributed as follows: [Specify assets and distribution terms].
Clause 3: Liability Assumption
Each member agrees to assume the following liabilities: [Specify liabilities and which member assumes them].
Clause 4: Release of Claims
Each member releases the other from any claims related to [Specify scope of claims].
Clause 5: Confidentiality
Both members agree to maintain confidentiality regarding the terms of this separation agreement.
Clause 6: Governing Law
This agreement shall be governed by the laws of [State/Jurisdiction].
Signed in [City], [Date].
Sincerely,
[Signature of Member 1]
[Name of Member 1]
[Signature of Member 2]
[Name of Member 2]
LLC Separation Agreement Template (2)
Between:
[Name of Member 1]
[Member 1’s ID]
[Member 1’s Address]
[Member 1’s Phone]
[Member 1’s Email]
And:
[Name of Member 2]
[Member 2’s ID]
[Member 2’s Address]
Introduction:
This separation agreement outlines the terms under which the members of [LLC Name] will dissolve their membership effective from [Effective Date].
Clause 1: Purpose of Separation
The members agree to separate due to [Specify reasons for separation].
Clause 2: Financial Settlement
The financial obligations and entitlements will be settled as follows: [Specify financial terms].
Clause 3: Division of Business Assets
All business assets shall be divided according to the following schedule: [Specify asset division].
Clause 4: Non-Compete Agreement
Both members agree to adhere to a non-compete clause for a period of [Specify time] within the following geographic area: [Specify area].
Clause 5: Indemnification
Each member agrees to indemnify the other for any claims arising from their respective actions during the term of the LLC.
Clause 6: Dispute Resolution
In the event of a dispute regarding this agreement, the members agree to resolve the matter through mediation before resorting to litigation.
Signed in [City], [Date].
Sincerely,
[Signature of Member 1]
[Name of Member 1]
[Signature of Member 2]
[Name of Member 2]

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Please complete the form below to create the LLC Separation Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

LLC Separation Agreement Template

1. LLC Information


2. Member Information





3. Reason for Separation

4. Effective Date of Separation

5. Distribution of Assets and Liabilities

6. Indemnification Clause

7. Confidentiality Agreement

8. Governing Law

9. Signatures and Acceptance

10. Declaration and Signatures



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LLC Separation Agreement Template

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Llc Separation Agreement Template