Determine the purchase price and payment terms. Decide whether the transaction will be an asset purchase or a stock purchase.In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. What should be included in a buyout agreement? Create a Buy-Sell Agreement in minutes with step-by-step instructions. Use this contract to protect the shares of a business in unforeseen circumstances. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement. Your agreement should address when a partner can or must be bought out of their partnership interest and the procedure to buy out the partner. The actual mechanics of the buysell agreement depend on whether it is structured as a crosspurchase agreement or an entitypurchase agreement. Identify the parties involved in the transaction. 2.