more cleanup.
This commit is contained in:
		| @@ -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) |  | ||||||
|   | |||||||
| @@ -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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