c4bd17ed37
- Holdings OA: redrafted as single-member, removed trust/estate provisions, expanded IP authority, removed logo - REMINDERS.md: Indiana LLC compliance/maintenance schedule - Hospitality Group OA: full multi-member agreement reflecting negotiated terms — tiered buyback (100/75/50/0), ROFR, forfeiture for cause, grant finder fee, proportional investment equity, outcome-based metrics, mutual consent on major decisions, Operations Director role, shared escalation responsibility - Hospitality Group Overview: matching HTML summary document - T-00 (Daily Pour): directory structure, README, materials.csv with equipment/pricing/links, branding assets, mockups, floorplan - README: updated 5-year growth plan, equity terms, roles
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HTML
296 lines
12 KiB
HTML
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<title>Operating Agreement — SnS Network Solutions Holdings LLC</title>
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<body>
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<div class="doc">
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<div class="letterhead">
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<div class="doctitle">
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<h1>OPERATING AGREEMENT</h1>
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<div class="entity">SnS Network Solutions Holdings LLC</div>
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</div>
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</div>
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<div class="meta-bar">
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<div><b>Entity type:</b> Single-Member LLC</div>
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<div><b>State of formation:</b> Indiana</div>
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<div><b>EIN:</b> 42-4099038</div>
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<div><b>Effective date:</b> July 28, 2026</div>
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</div>
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<h2>1. Formation and Purpose</h2>
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<p>This Operating Agreement (the "Agreement") is entered into by the undersigned sole
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Member, <b>Samuel S. James</b> (the "Member"), to govern the operations of
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<b>SnS Network Solutions Holdings LLC</b>, a limited liability company organized under
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the Indiana Business Flexibility Act (Indiana Code § 23-18).</p>
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<p>The Company is organized as a long-term holding company whose purpose is to acquire,
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own, manage, protect, and preserve ownership interests in subsidiary companies,
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intellectual property, real property, investments, and other business assets. The Company
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exists to provide centralized ownership, governance, and long-term stewardship of its
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affiliated enterprises.</p>
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<p>The Company is formed to act as a <b>holding company</b>. Its primary purpose is to own,
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manage, and oversee its subsidiary entities and other business interests. The Company
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is not intended to engage in operating or client-facing business, and the Member shall
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conduct the Company's affairs so that any direct operating activities remain incidental
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to the Company's primary purpose as a holding company.</p>
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<h2>2. Registered Office and Registered Agent</h2>
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<ul>
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<li><b>Principal office:</b> 759 Boxwood Drive, South Bend, IN 46641</li>
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<li><b>Registered agent:</b> Samuel S. James, serving as his own registered agent.</li>
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<li><b>Registered office address:</b> 759 Boxwood Drive, South Bend, IN 46641</li>
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</ul>
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<p>The Member may change the principal office or registered agent at any time, consistent
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with Indiana filing requirements.</p>
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<h2>3. Member and Ownership</h2>
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<p>The sole Member of the Company is <b>Samuel S. James</b>, who holds <b>100%</b> of the
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Membership Interest. As the only member, the Member is entitled to all allocations,
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distributions, and voting rights of the Company.</p>
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<h2>4. Management</h2>
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<p>The Company shall be <b>Member-managed</b>. The Member has full and exclusive authority
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to make all decisions regarding the Company's business, including, without limitation:</p>
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<ul>
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<li>Forming, acquiring, financing, and managing subsidiary entities;</li>
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<li>Opening and controlling bank and financial accounts;</li>
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<li>Entering into contracts and acquiring, owning, licensing, protecting, assigning, and
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managing trademarks, service marks, trade names, domain names, copyrights, software,
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proprietary systems, trade secrets, patents, marketing assets, branding, and other
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intellectual property or business assets for itself or any subsidiary;</li>
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<li>Admitting new members (which would require amending this Agreement — see §12).</li>
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</ul>
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<h2>5. Subsidiary Management</h2>
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<p>The Company is authorized to form, acquire, and hold interests in subsidiary limited
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liability companies and other entities. The Company shall act as the <b>sole member</b>
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(or controlling owner) of such subsidiaries so that the parent–subsidiary relationship
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is clearly maintained.</p>
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<p>To preserve limited-liability protection for the Company, the Member, and each
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subsidiary, the Member shall:</p>
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<ul>
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<li>Keep the Company's assets, accounts, and records <b>separate</b> from those of every
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subsidiary and from any Member's personal affairs (no commingling of funds);</li>
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<li>Document ownership of each subsidiary (the Company as sole member) in that
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subsidiary's own operating agreement;</li>
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<li>Observe ordinary formalities for the Company and each subsidiary.</li>
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</ul>
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<h2>6. Capital Contributions and Distributions</h2>
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<ul>
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<li><b>Capital contributions:</b> The Member may contribute capital to the Company as
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needed. Contributions are recorded in the Company's books.</li>
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<li><b>Distributions:</b> Distributions of available cash or profits are made to the
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Member at the times and in the amounts the Member determines, subject to the
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Company's financial obligations and applicable law (the Company may not make a
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distribution that would render it unable to pay its debts as they come due).</li>
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</ul>
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<h2>7. Bank Accounts, Books, and Records</h2>
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<ul>
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<li>The Company shall maintain <b>its own bank account(s)</b>, separate from the Member's
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personal accounts and from every subsidiary's accounts.</li>
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<li>The Company shall keep accurate books and records of its finances, ownership interests
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in subsidiaries, and material decisions.</li>
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<li>Records shall be maintained at the principal office and retained as required by
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Indiana law.</li>
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</ul>
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<h2>8. Tax Treatment</h2>
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<p>As a single-member LLC, the Company is by default treated as a <b>disregarded entity</b>
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for U.S. federal income tax purposes; its income and expenses are reported on the
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Member's individual return. The Member may elect a different classification (for
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example, S-corporation treatment) by filing the appropriate IRS election.</p>
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<ul>
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<li><b>EIN:</b> 42-4099038 (IRS Notice CP575G, issued July 27, 2026)</li>
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<li><b>Fiscal year:</b> Calendar year (January 1 – December 31)</li>
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</ul>
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<h2>9. Liability and Indemnification</h2>
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<p>To the fullest extent permitted by Indiana law:</p>
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<ul>
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<li>The Member shall <b>not be personally liable</b> for the debts, obligations, or
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liabilities of the Company solely by reason of being a member; and</li>
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<li>The Company shall <b>indemnify and hold harmless</b> the Member (and any authorized
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manager or agent) against claims, losses, and expenses arising from the good-faith
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management of the Company, except for acts of fraud, willful misconduct, or bad
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faith.</li>
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</ul>
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<h2>10. Succession on Death or Incapacity</h2>
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<p>If the Member dies or becomes permanently incapacitated, the Member's Membership
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Interest shall pass to the Member's successor(s) in interest as determined by applicable
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Indiana law, the Member's will, or other estate disposition.</p>
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<p>The successor(s) receiving the Member's interest shall be admitted as Member(s) with
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the same rights the Member held.</p>
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<p>The Company shall <b>not dissolve</b> solely because of the Member's death or
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incapacity, and shall continue under the successor Member(s).</p>
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<h2>11. Transfer of Membership Interest</h2>
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<ul>
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<li>The Member may assign, pledge, or transfer all or part of the Membership Interest
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at the Member's discretion.</li>
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<li>Any transferee that is to hold voting and management rights (rather than purely
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economic rights) is admitted as a member only upon amendment of this Agreement
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under §12.</li>
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</ul>
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<h2>12. Amendments</h2>
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<p>This Agreement may be amended only by a <b>written instrument signed by the
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Member</b> (and by all members if additional members are later admitted). Amendments are
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effective on the date stated in the amendment.</p>
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<h2>13. Dissolution</h2>
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<p>The Company shall continue in perpetuity unless dissolved by:</p>
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<ul>
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<li>The written election of the Member; or</li>
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<li>Operation of Indiana law.</li>
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</ul>
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<p>Upon dissolution, the Company's assets shall be applied first to creditors (including
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the Member, if owed), then distributed to the Member, after which Articles of
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Dissolution shall be filed with the Indiana Secretary of State.</p>
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<h2>14. Governing Law and Severability</h2>
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<p>This Agreement is governed by and construed in accordance with the laws of the <b>State
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of Indiana</b>. If any provision is held invalid or unenforceable, the remaining
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provisions remain in full force and effect.</p>
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<h2>15. Definitions</h2>
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<dl class="definitions">
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<dt>"Company"</dt><dd>SnS Network Solutions Holdings LLC.</dd>
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<dt>"Member"</dt><dd>Samuel S. James, and any successor or additional member admitted under this Agreement.</dd>
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<dt>"Membership Interest"</dt><dd>the Member's ownership, economic, and (unless limited) management rights in the Company.</dd>
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<dt>"Subsidiary"</dt><dd>any entity in which the Company holds a controlling or sole-member interest.</dd>
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</dl>
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<div class="execution">
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<h2 style="margin-top:0">Execution</h2>
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<p>The undersigned, being the sole Member of SnS Network Solutions Holdings LLC, adopts
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and agrees to this Operating Agreement as of the Effective Date first written above.</p>
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<p style="margin-top:28px;font-weight:700;letter-spacing:.5px;color:var(--navy)">SOLE MEMBER</p>
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<div class="sig-line"></div>
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<div class="sig-label">Signature</div>
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<p style="margin:0"><b>Printed name:</b> Samuel S. James</p>
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<div class="sig-line" style="width:40%"></div>
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<div class="sig-label">Date</div>
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</div>
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</div>
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<footer>
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Review with an Indiana-licensed attorney before signing.
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</footer>
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</body>
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</html>
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