State Senate Republicans agreed yesterday to a power sharing arrangement with five dissident Democrats led by Jeffery Klein. Instead of being run by a majority leader, the body will be led by a revolving presidency held by Republican Dean Skelos and Klein. Leaders of the GOP and the Democratic group would have â€śjoint and equal authorityâ€ť over bills, committee assignments, appointments and budget negotiations. Some legislation the coalition is likely to back includes a minimum-wage increase and more lenient marijuana laws. Mayor Bloomberg's spokesman called the coalition â€śan example of bipartisan cooperation at its best,â€ť but some Democrats criticized the arrangement a "coup." The other four Democrats are Malcolm Smith, Diane Savino, David Valesky, and David Carlucci.