Llc Operating Agreement Texas Sample

2) Does the profit-benefit in the company agreement have to correspond to the ownership shares? With 3 partners, 2 are more active in everyday life and the other is rather a silent partner. Can 2 of us take the first X amount of profit to cover our cost of living, and everything that comes after will be shared by 1/3? I can`t thank you enough for providing your expertise and providing this free and simple business agreement. A corporate agreement is a regulatory document for a Texas LLC that describes the administrative structure and operating policies of the business as well as the responsibilities of the members. Your company agreement can be drafted by your members, in which case it is free of charge. On the other hand, you can also have a company agreement written by a business lawyer who will undoubtedly collect a fee for this service.