A buyout agreement outlines the procedure that must be followed if a member of your limited liability company (LLC) wants to sell his or her ownership stake. Account > Account settings > Legal and compliance.Go to the Security and Privacy Additional Terms section. The Phoenix business attorneys at Law Offices of Donald W. Hudspeth P.C. draft reliable buy-sell agreements for companies throughout Arizona. The book includes a fill-in buy-sell agreement that can be tailored for owners of corporations, LLCs, and partnerships.