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Multi Member Operating Agreement
"Need a Multi Member Operating Agreement for a Singapore-based tech startup with 4 founding members, where two members will be actively managing the company while the other two are passive investors, with initial capital contributions totaling SGD 500,000 to be made by March 2025."
1. Parties: Identification and details of all members of the LLC
2. Background: Context and purpose of forming the LLC
3. Definitions: Key terms used tHRoughout the agreement
4. Company Formation: Details of company structure and initial capitalization
5. Capital Contributions: Initial and ongoing capital requirements
6. Membership Interests: Allocation of ownership and voting rights
7. Management Structure: Governance and decision-making processes
8. Distributions: Profit sharing and distribution policies
9. Transfer of Interests: Rules for transferring ownership interests
10. Dissolution: Process for winding up the company
1. Non-Compete Provisions: Restrictions on competitive activities by members to protect business interests
2. Intellectual Property Rights: Provisions governing IP ownership and usage rights when company owns or develops IP
3. Tag-Along Rights: Minority member protection mechanisms in sale scenarios
4. Drag-Along Rights: Majority member rights in sale scenarios to facilitate potential future sales
1. Schedule A - Initial Capital Contributions: Detailed breakdown of members' initial investments
2. Schedule B - Membership Interests: Detailed allocation of ownership percentages
3. Schedule C - Company Property: List of company assets and property
4. Appendix 1 - Management Structure Chart: Visual representation of governance structure
5. Appendix 2 - Voting Procedures: Detailed voting processes and requirements
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