1.2 KiB
Grant Of Profit Interests To Members (capitalization table)
The Company desires to issue a percentage of the Company profits designated as “Profits Interest Units” to the Member in connection with 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 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:
FILLTHISIN
The above interests are fully vested.
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Reserved for future members pre SEAL capital raise :
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Reserved for SEAL raise :
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)