Multi member LLC operating agreement template

Member A distribution on this year's profit: $48,000; Computed on this page from the inputs below
Total capital contributed: $100,000; Computed on this page from the inputs below
Member A ownership, percent: 40; Computed on this page from the inputs below
Member D ownership, percent: 10; Computed on this page from the inputs below

Every figure on this page is computed from the inputs entered, by the method stated below it. LLC Lane publishes no clause text, no state fee, no tax rate and no vote rule: the thresholds and the set-asides are yours, and the defaults are a worked example to replace with your own figures.

The figures above start from a worked example ($48,000). Change any input and the answer updates as you type.

Download the Multi member LLC operating agreement template worked example (CSV)

This is a multi member LLC operating agreement template worksheet for a company with up to four members. Each member's capital over the total is their share; the year's profit by share is each member's distribution, shown for the largest and the smallest holder; and your threshold for an ordinary decision, as a share of ownership, is turned into the capital that must vote yes. Every figure is yours; the worksheet publishes no clause text and no rule. Free, on the page, no account; the paid plan saves every worksheet against the company and the agreement.

Four members, four shares from four contributions

$40,000, $30,000, $20,000 and $10,000 of capital is 40%, 30%, 20% and 10% of the company. The worksheet returns the largest and the smallest share and the total, so the ownership schedule in the template agrees with the contribution schedule; the middle two follow from the same division. A different agreed split is the agreement's to record.

Distributions at the top and the bottom of the table

Profit by share is each member's distribution, and the worksheet shows the largest and the smallest: $48,000 and $12,000 on $120,000. Between them is the table the profit clause produces, and the difference between them is what the smallest member agreed to when they put in a tenth of the capital.

An ordinary decision as capital that must say yes

An ordinary-decision clause names a share of ownership; the worksheet turns 51% of $100,000 into $51,000 of capital that must vote yes, which with shares of 40, 30, 20 and 10 means at least two members and never one. The threshold is yours; the worksheet publishes no rule about it.

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Multi member LLC operating agreement template: common questions

Is this a free multi-member LLC operating agreement template?

It is a free worksheet, not a template of clause text: enter up to four members' capital, the profit and your ordinary-decision threshold, and it works the total, the largest and smallest shares, their distributions and the capital that must vote yes on the page with no account and no card. LLC Lane Pro saves every worksheet against the company.

Is there a sample operating agreement for a two or three member LLC?

The worksheet is the numbers half of one. For a 2 member LLC operating agreement, enter the two members' capital and leave the other two at zero: $60,000 and $40,000 give 60% and 40%, and $120,000 of profit pays $72,000 and $48,000. For a three member LLC, fill three. A simple operating agreement for two member LLC owners still needs clause text from your attorney; the shares, distributions and vote that sit in its blanks are worked here.

Is this a multi member LLC form?

It is a multi member LLC worksheet rather than a filing form: nothing on it is filed with a state. It takes up to four members' capital, the profit and your ordinary-decision threshold and returns the shares, the distributions and the capital that must vote yes, printed as it stands.

How should profit be split between members?

By ownership share in most agreements, which is what the worksheet works: $12,000 of $120,000 to a 10% member. Members can agree a different split, for instance to pay a working member more, and the agreement records it. The worksheet shows the by-share figures so a different split is a visible decision, not an accident.

What if a member contributes property or work instead of cash?

The agreement records the contribution at an agreed value, and the worksheet takes that value as the member's capital. Whether and how a non-cash contribution counts is a clause for your attorney; the arithmetic that follows from the agreed value is the worksheet's.

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