What should be included in a buyout agreement? A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership.ASSET PURCHASE AGREEMENT between ORANGE GLO INTERNATIONAL, INC. Download our free Partnership Buyout Agreement template for your business needs. A properly prepared tenant buyout agreement removes any legal residue - the tenant agrees to waive all legal claims that may arise from the tenancy, and these.