As a result, he and his partner exercised their option to buy out the retiring partner for a fair price pursuant to a reasonable payment. We'll go over some essential steps to complete the dissolution or separation and avoid personal and financial headaches.An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement. Explore critical tax considerations for structuring buysell agreements in family businesses. Download Nevada Partnership Agreement template, modify and send for signing using BoloForms Signature. This book has a fillintheblank buyout agreement and instructions on how to incorporate it into your partnership agreement.