I am a member in an LLC with 3 members. We drew up a simple Operating Agreement making each members ownership to 33.3% and equal to profits/loss. The company did well last year and we all made generous profits. This year the two other members decided to bring in another member with his independent company that will work as division of our LLC. Basicly we are brokers this other member was bringing in a sales team. By the way, it happens to be one of my partners brother.
Needless to say they wanted to draw up a new operating agreement. Initially we were to do a 25% ownership. Which I agreed to. This is where it begins to fall apart. The member moves in to our office space. The agreement now changes. Since I decide I don't want to be part of the office operations, meaning managing of the sales team or to be forced to work all there hours.
They decide to try to give me a 30/30/30/10 split.
I defenitely say no way to this. And now they are opting to buy me out.