A BuySell agreement can help all business partners determine what will happen in case of certain circumstances. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement.Looking for a Buy-Sell Agreement attorney? Pennington Law, PLLC offers expert legal guidance to protect your business interests. Download Arizona Buy-Sell Agreement template, modify and send for signing using BoloForms Signature. Buyout Agreement: A legal document that outlines the terms and conditions of a transaction in which one party purchases a stake in a business from the other.