Manager Managed LLC Operating Agreement Template for Netherlands

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Key Requirements PROMPT example:

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."

Document background
The Manager Managed LLC Operating Agreement is a crucial document for businesses operating in the Netherlands that prefer professional management oversight rather than member-driven operations. This agreement is particularly relevant when founding members wish to delegate day-to-day management to professional managers while maintaining strategic control through membership rights. It ensures compliance with Dutch corporate law while establishing clear protocols for company governance, capital structure, and operational procedures. The document is essential for companies seeking to establish a professional management structure while operating under the Dutch BV (Besloten Vennootschap) framework, providing clarity on roles, responsibilities, and decision-making processes.
Suggested Sections

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

Optional Sections

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)

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Technology

Professional Services

Manufacturing

Real Estate

Retail

Healthcare

Financial Services

Construction

Hospitality

Consulting

Media and Entertainment

Import/Export

Energy

Agriculture

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Compliance

Administration

Risk Management

Corporate Affairs

Board of Directors

Company Secretariat

Relevant Roles

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

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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