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Limited Liability Company Agreement
"I need a Limited Liability Company Agreement for a Hong Kong tech startup with three founding members, including provisions for future equity investments and an employee share option plan to be implemented by March 2025."
1. Parties: Identifies all founding members/shareholders of the LLC
2. Background: States the purpose of forming the company and basic intentions of the parties
3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules
4. Formation and Registration: Details of company formation, business scope, and registration requirements
5. Capital Structure: Share capital, classes of shares, and initial shareholding details
6. Members' Rights and Obligations: Rights, responsibilities, and obligations of company members
7. Transfer of Shares: Procedures and restrictions for share transfers
8. Management and Administration: Management structure, decision-making processes, and voting rights
9. Board of Directors: Appointment, removal, powers, and duties of directors
10. Meetings: Procedures for board and shareholders' meetings
11. Financial Matters: Financial management, distributions, and dividend policy
12. Confidentiality: Provisions protecting company confidential information
13. Termination: Circumstances and procedures for terminating the agreement
14. Dispute Resolution: Procedures for resolving disputes between members
15. General Provisions: Miscellaneous legal provisions including notices, amendments, and governing law
1. Tag-Along Rights: Used when members want the right to join in the sale of shares by other members
2. Drag-Along Rights: Used when majority shareholders want the right to force minority shareholders to join in the sale of shares
3. Pre-emptive Rights: Used when existing members should have priority rights to purchase new share issues
4. Non-Competition: Used when restrictions on members' competitive activities are required
5. Intellectual Property Rights: Used when the company has significant IP assets that need protection
6. Employee Share Option Plan: Used when the company plans to implement an employee share scheme
7. Dead-Lock Resolution: Used when equal shareholding exists and specific deadlock resolution mechanisms are needed
8. Put and Call Options: Used when members want specific share purchase or sale rights in certain circumstances
1. Schedule 1 - Details of Members: Complete details of all initial members including names, addresses, and shareholdings
2. Schedule 2 - Share Capital and Initial Shareholdings: Detailed breakdown of share classes, rights, and initial allocation
3. Schedule 3 - Matters Requiring Special Resolution: List of decisions requiring special majority approval
4. Schedule 4 - Reserved Matters: List of matters requiring specific member or director approval
5. Schedule 5 - Company Business Plan: Initial business plan and strategic objectives
6. Schedule 6 - Deed of Adherence: Template for new members joining the company
7. Appendix A - Board Procedures: Detailed procedures for board meetings and decision-making
8. Appendix B - Share Valuation Methodology: Agreed methods for valuing shares in various circumstances
Authors
Technology
Financial Services
Professional Services
Manufacturing
Real Estate
Retail
E-commerce
Healthcare
Education
Construction
Logistics
Consulting
Media and Entertainment
Food and Beverage
Import/Export
Legal
Corporate Secretarial
Compliance
Finance
Executive Leadership
Board of Directors
Corporate Governance
Risk Management
Administrative
Investment
Chief Executive Officer
Chief Financial Officer
Company Secretary
Corporate Lawyer
Legal Counsel
Compliance Officer
Director
Board Member
Company Administrator
Corporate Governance Manager
Managing Partner
Shareholder Relations Manager
Investment Manager
Business Development Director
Risk Manager
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