I'm altering a contract between myself and another individual. The contract defines clauses for forcing another partner out but does not define how percentage of ownership shall be handled. I.e. how much or what the forced-out partner gets in the event they are expelled from the partnership.
I do realize a qualified attorney is best to consult with for such matters but I am not asking advice in this matter. Only asking if anyone has a similar clause in their own or previous contracts and wouldn't mind sharing that clause here. I've been searching but haven't found any sample contracts that contain such a clause.
I think the issue is more "what consideration should someone get for participation" vs "how do we force them out".
One could use a situation like Mike Moyer's dynamic equity model - where a "grunt fund" assigns equity based on value received.
There will be millions of reasons why a partnership could split. If you have a clear understanding up front what equity the partner owned prior to the split, the separation becomes simpler - you either buyback the equity or adopt an absentee owner.