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Manager Managed LLC Operating Agreement
"I need a Manager Managed LLC Operating Agreement for a Dutch technology startup with three founding members and two professional managers, including provisions for international expansion and IP protection, to be implemented by March 2025."
1. Parties: Identification of all founding members and managers of the LLC
2. Background: Context of the LLC formation and purpose of the operating agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Formation and Name: Details of company formation, registered name, and registration requirements under Dutch law
5. Business Purpose: Defined scope of business activities and objectives
6. Capital Contributions: Initial and subsequent capital contributions, valuation of non-cash contributions
7. Membership Interests: allocation of membership interests, voting rights, and economic rights
8. Management Structure: Appointment, removal, and replacement of managers; scope of authority
9. Managers' Rights and Duties: Detailed responsibilities, fiduciary duties, and decision-making authority of managers
10. Members' Rights and Obligations: Rights and obligations of members, including voting rights on major decisions
11. Meetings and Voting: Procedures for manager and member meetings, voting requirements
12. Financial Affairs: Accounting methods, fiscal year, bank accounts, and financial reporting requirements
13. Distributions: Rules for profit distributions and capital returns
14. Transfer Restrictions: Limitations on transfer of membership interests and right of first refusal
15. Exit Provisions: Procedures for member withdrawal, expulsion, and buy-out terms
16. Dissolution and Liquidation: Process for company dissolution and asset distribution
17. Confidentiality: Protection of company confidential information
18. Governing Law and Jurisdiction: Application of Dutch law and jurisdiction for disputes
19. Amendment Procedures: Process for modifying the operating agreement
1. Tax Provisions: Specific tax elections and allocations (include if specific tax structure desired)
2. Intellectual Property Rights: IP ownership and licensing (include if IP is significant to business)
3. Non-Competition: Restrictions on competitive activities (include if business requires protection)
4. International Operations: Provisions for international business (include if operating internationally)
5. Employee Matters: Employment policies and procedures (include if company will have employees)
6. Advisory Board: Structure and role of advisory board (include if advisory board planned)
7. Deadlock Resolution: Procedures for resolving management deadlocks (include if multiple managers)
8. Insurance Requirements: Required insurance coverage (include if specific insurance needs)
9. Related Party Transactions: Procedures for handling related party dealings (include if anticipated)
1. Schedule A - Initial Members and Capital Contributions: Detailed list of members and their initial capital contributions
2. Schedule B - Management Structure: Organizational chart and detailed management responsibilities
3. Schedule C - Share Register: Current ownership and transfer history of membership interests
4. Schedule D - Business Plan: Initial business plan and strategic objectives
5. Schedule E - Valuation Methodology: Agreed methods for valuing membership interests
6. Appendix 1 - Form of Management Agreement: Template agreement for engaging managers
7. Appendix 2 - Meeting Procedures: Detailed procedures for conducting meetings
8. Appendix 3 - Financial Reporting Templates: Standard formats for financial reports
9. Appendix 4 - Transfer Notice Form: Standard form for notifying transfer of interests
Authors
Articles of Association
BV
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Chamber of Commerce
Company
Confidential Information
Deed of Incorporation
Default Event
Distributable Profits
Distribution
Effective Date
Encumbrance
Fair Market Value
Financial Year
General Meeting
Governing Law
Initial Capital Contribution
Intellectual Property Rights
KvK
Management Board
Management Agreement
Manager
Managing Director
Material Breach
Member
Membership Interest
Notarial Deed
Operating Profit
Percentage Interest
Permitted Transfer
Proxy
Registered Office
Related Party
Reserved Matters
Resolution
Share
Share Capital
Shareholders Register
Supervisory Board
Tax Year
Territory
Third Party
Transfer
Unanimous Consent
Voting Rights
Winding Up
Purpose
Capital Contributions
Membership Interests
Management Structure
Decision Making
Voting Rights
Meeting Procedures
Financial Management
Distribution Rights
Transfer Restrictions
Tag Along Rights
Drag Along Rights
Exit Rights
Confidentiality
Non-Competition
Intellectual Property
Dispute Resolution
Amendment
Termination
Force Majeure
Representations and Warranties
Indemnification
Insurance
Notice Requirements
Assignment
Severability
Entire Agreement
Governing Law
Jurisdiction
Technology
Professional Services
Manufacturing
Real Estate
Retail
Healthcare
Financial Services
Construction
Hospitality
Consulting
Media and Entertainment
Import/Export
Energy
Agriculture
Legal
Corporate Governance
Executive Leadership
Finance
Compliance
Administration
Risk Management
Corporate Affairs
Board of Directors
Company Secretariat
Chief Executive Officer
Managing Director
Chief Financial Officer
General Counsel
Corporate Secretary
Board Member
Operations Director
Compliance Officer
Legal Counsel
Finance Director
Business Development Manager
Company Administrator
Risk Manager
Corporate Governance Officer
Managing Partner
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