more cleanup.

This commit is contained in:
Charles N Wyble - admin 2020-10-28 14:12:20 -05:00
parent 546219b277
commit d7152a8cf2
3 changed files with 13 additions and 6 deletions

View File

@ -5,11 +5,18 @@ The Company desires to issue a percentage of the Company profits
designated as “Profits Interest Units” to the Member in connection with designated as “Profits Interest Units” to the Member in connection with
Members performance of services for the benefit of the Company. Members performance of services for the benefit of the Company.
The parties intend that the Profits Interest Units issued pursuant to this Agreement constitute “profits interests,” as described in Section 4.01 of Rev. Proc. 93-27, 1993-2 C.B. 343, as clarified by Rev. Proc. 2001-43, 2001-34 I.R.B. 191, issued by the Internal Revenue Service. The parties intend that the Profits Interest Units issued pursuant to this Agreement constitute “profits interests,”
as described in Section 4.01 of Rev. Proc. 93-27, 1993-2 C.B. 343, as clarified by
Rev. Proc. 2001-43, 2001-34 I.R.B. 191, issued by the Internal Revenue Service.
The Company will revalue its assets as of the Effective Date in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(f)(5)(iii) and the Capital Accounts of the Members of the Company will be adjusted to reflect such revaluation. The Company will revalue its assets as of the Effective Date in accordance with Treasury Regulations Section
1.704-1(b)(2)(iv)(f)(5)(iii) and the Capital Accounts of the Members of the Company will be adjusted to reflect
such revaluation.
In consideration of Members providing services for the benefit of the Company, the Company hereby issues to Members the percentage interests below: In consideration of Members providing services for the benefit of the Company, the Company hereby issues to Members
the percentage interests below:
FILLTHISIN
* *
@ -18,7 +25,7 @@ In consideration of Members providing services for the benefit of the Company, t
* *
The above three interests are fully vested. The above interests are fully vested.
* Reserved for future members pre SEAL capital raise : * Reserved for future members pre SEAL capital raise :
@ -26,5 +33,5 @@ The above three interests are fully vested.
The above two interests are subject to negoiation in regards to vesting. The above two interests are subject to negoiation in regards to vesting.
FILLTHISIN (put vesting terms if any here) (or remove this whole section as desired)
(above is conitional and not refelcting current cap table, will be changed before sending for signig)

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@ -1,3 +1,3 @@
--- ---
title: "<company name> Limited Liability Company NonDisclosure , Intellectual Property Assignment , Operating Agreement" title: "company name Limited Liability Company NonDisclosure , Intellectual Property Assignment , Operating Agreement"
--- ---

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