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Op Agreeement Term sheet
Confidential -- For Preview Purposes Only
Investment agreement template covering subscription, representations, and investor protections.
General:
Miscellaneous
Members: | The following people shall be considered members of [COMPANY]:
a. [PARTY A]:
55% of the total membership units of [COMPANY].
b. Current [PARTY B] Members:
45% of the total membership units of [COMPANY] as divided amongst the [PARTY B] Members as they deem equitable and appropriate.
Ownership of LLC: | Each member shall hold the following number of Units (of a single series of Units) of [COMPANY]:
[Describe unit structure]
Management: | [COMPANY] shall be managed by a [sole manager] [team of managers] who shall be elected on an annual basis by a [majority of outstanding units].
Capitalization: | [COMPANY] shall be capitalized as follows:
[Describe capitalization, i.e., Member 1 will provide $10,000 in cash, Member 2 shall assign IP, etc.]
Distributions: |
Voting Rights: | Each Unit shall have one (1) vote.
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Op Agreeement Term sheet
Investment Agreements -- US - General