LLC partners dispute

[Scalloway]

Maybe there is a way for me te resign some of my rights ?

Get a solicitor to draw up an agreement between the pair of you.

 

[22Benjamin22]

@Scalloway I'm currently preparing all documentations to help @The Resolver starting working on my case.

While I'm in the process of preparing all info and all negotiation I wish to obtain, I realize that one of the biggest release would be to find an agreement about the salary my partner will pay himself (before the dividend split) to work on the company.

For this I want to propose a salary indexed over the NET results (pre tax) of the company.
Basically we take the benefit at the end of the year and we pay him a % of that amount.

What does sound "fair" to you considering that:
- He will work about 12h per week on average
- He is 28 years old, no diploma but smart entrepreneur
- He will work on others project (at least one) on the side
- The company is already "making" 100k$ Net right now, only managing the employee 5h per week.

Here are my numbers, let me know what you think :
This table has to be red that way: let's say he realize 200k$ Net profit (before tax and before his salary) ligne 4:
He will receive: 0.4*50k+0.35*(100k-50k)+0.31*(150k-100k)+0.28*(200k-150k) = 67k$.
We can note that 67k$ represents 33.5% (column E) of 200k$ (column B).
A . B . C . D . E .
0$ 50k$ 40% 20000$ 40.00%
50k$ 100k$ 35% 37500$ 37.50%
100k$ 150k$ 31% 53000$ 35.33%
150k$ 200k$ 28% 67000$ 33.50%
200k$ 250k$ 26% 80000$ 32.00%
250k$ 300k$ 24.50% 92250$ 30.75%
300k$ 350k$ 23% 103750$ 29.64%
350k$ 400k$ 21.50% 114500$ 28.63%
400k$ 450k$ 20% 124500$ 27.67%
450k$ 500k$ 18.50% 133750$ 26.75%

Then we will split the benefits left 33.33/66.66. So in this case I would receive 44342$ by being 100% passive and he would get 155658$ (67000$ salary (about 55$ an hour) + 88658$ dividend) for running the company.

Does that sounds fair for you ? If not why and what would you propose to get these number fair.

Please imagine you are in his shoes then please imagine you are in mine too. Really trying to find something fair here.

 

[22Benjamin22]

About 111$ an hour* -- Edit.