d04c611c7f
- 00-sns-holding → 00-holdings (shorter name) - 01-networking → sns-technology-group/networking/ - 02-digital → sns-technology-group/secure/ - 03-support → sns-technology-group/support/ - indian-food-truck-legacy merged into indian-food-truck - warehouse-property → warehouse, rental-property → rental - Remove empty placeholder LLC dirs - Update READMEs with correct paths
449 lines
21 KiB
HTML
449 lines
21 KiB
HTML
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<img src="../branding/holdings-logo.png" alt="SnS Network Solutions Holdings LLC">
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<div class="doctitle">
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<h1>AMENDED AND RESTATED 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> Multi-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 Amended and Restated Operating Agreement (the "Agreement") is entered into by the
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undersigned Members, <b>Samuel S. James</b>, <b>Annie Deondria Chatman</b>, and
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<b>Richard E. Williams</b> (each a "Member" and collectively the "Members"), to govern
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the operations of <b>SnS Network Solutions Holdings LLC</b>, a limited liability
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company organized under the Indiana Business Flexibility Act (Indiana Code § 23-18).
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This Agreement amends and restates the Company's original single-member operating
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agreement in full, admitting Annie Deondria Chatman and Richard E. Williams as Members
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effective as of the date above.</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 Members shall
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conduct the Company's affairs so as to avoid incurring operating liabilities directly.
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This statement of intent does not by itself eliminate or limit any liability the Company
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may actually incur under law; nothing in this Agreement should be relied upon as a
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guarantee against liability.</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 (a Member), serving as his own registered agent.</li>
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<li><b>Registered office address:</b> same as the principal office above — 759 Boxwood Drive, South Bend, IN 46641</li>
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</ul>
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<p>Samuel S. James, as the Member serving in this role, may change the principal office
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or registered agent at any time, consistent with Indiana filing requirements. Serving as
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one's own registered agent requires being reliably available at the registered office
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during business hours to accept service of process; if that stops being practical
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(e.g., due to travel, relocation, or incapacity), the Members shall promptly appoint a
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commercial registered agent service and update the designation on file with the Indiana
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Secretary of State.</p>
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<h2>3. Members and Ownership</h2>
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<p>The Company has three Members, holding the following Membership Interests:</p>
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<table style="width:100%;border-collapse:collapse;margin:14px 0">
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<tr style="border-bottom:1px solid var(--rule)">
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<th style="text-align:left;padding:6px 8px">Member</th>
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<th style="text-align:left;padding:6px 8px">Membership Interest</th>
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</tr>
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<tr style="border-bottom:1px solid var(--rule)">
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<td style="padding:6px 8px">Samuel S. James</td><td style="padding:6px 8px">97%</td>
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</tr>
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<tr style="border-bottom:1px solid var(--rule)">
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<td style="padding:6px 8px">Annie Deondria Chatman</td><td style="padding:6px 8px">1%</td>
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</tr>
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<tr style="border-bottom:1px solid var(--rule)">
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<td style="padding:6px 8px">Richard E. Williams</td><td style="padding:6px 8px">2%</td>
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</tr>
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</table>
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<p>Each Member is admitted with full membership rights — voting, management
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participation, and economic rights (allocations and distributions) — in proportion to
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their Membership Interest, except as otherwise stated in this Agreement. Allocations of
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profit and loss for tax purposes are made in proportion to each Member's Membership
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Interest, unless the Members otherwise agree in writing and as permitted by applicable
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economic-substance and tax requirements.</p>
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<p><i>Confirm capital account and tax-allocation mechanics for the new Membership
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Interests, including whether any special allocations or a formal capital contribution is
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being made by Annie or Richard in exchange for their interest.</i></p>
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<h2>4. Management</h2>
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<p>The Company shall be <b>Member-managed</b>. Each Member has voting rights in
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proportion to their Membership Interest as set out in §3. Except as otherwise stated in
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this Agreement, actions and decisions of the Company require the approval of Members
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holding a <b>majority of the Membership Interests</b>. Because Samuel S. James holds
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97% of the Membership Interests, he retains sole authority to approve or reject any
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Company decision, 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 holding the Company's brand, intellectual property, and other assets;</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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<p>Samuel S. James is designated the Company's day-to-day managing Member, with
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authority to conduct ordinary business on the Company's behalf without a separate vote
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of the other Members, subject to the majority-approval requirement above for major
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decisions (e.g., admitting members, encumbering or selling material assets, or
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dissolving the Company).</p>
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<p><i>Confirm whether "major decisions" should be enumerated more specifically, and
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whether Annie and Richard should have any consent rights notwithstanding their minority
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interest (e.g., on related-party transactions or amendments affecting their own
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interest).</i></p>
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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 Members, and each
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subsidiary, the managing 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> Members may contribute capital to the Company as
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needed and as agreed among the Members. Contributions are recorded in the Company's
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books against each Member's capital account.</li>
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<li><b>Distributions:</b> Distributions of available cash or profits are made to the
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Members <b>pro rata in proportion to their Membership Interests</b>, at the times
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and in the amounts the managing Member determines under §4, 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 any 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
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interests 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>With the admission of Annie Deondria Chatman and Richard E. Williams as Members, the
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Company is no longer a single-member LLC. By default, a multi-member LLC is treated as
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a <b>partnership</b> for U.S. federal income tax purposes; each Member reports their
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proportionate share of income and expense (per §3) on their individual return via a
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Schedule K-1. The Members may elect a different classification (for example, taxation
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as a corporation) by filing the appropriate IRS election. The best classification for
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the Company depends on the overall tax strategy across the Company and its
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subsidiaries, not this entity in isolation.</p>
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<p><i>Confirm tax treatment and any elections given the Company's new multi-member
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status; confirm whether Annie's and Richard's interests are capital interests or
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profits interests, since the tax treatment of granting an equity interest for services
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differs from a purchased/contributed interest; confirm whether a new EIN or a
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partnership representative designation (BBA audit regime) is required; a partnership
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tax return (Form 1065) will likely now be required in addition to/instead of prior
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disregarded-entity reporting.</i></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>No Member shall be <b>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> each 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 <b>within the scope of the authority granted under this
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Agreement</b>, except for acts of fraud, willful misconduct, bad faith, or acts taken
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outside that authority (ultra vires acts).</li>
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</ul>
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<p><i>Confirm this indemnification scope and its exceptions are consistent with Indiana
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law and the Members' intended risk allocation; scope may need further tightening.</i></p>
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<h2>10. Succession on Death or Incapacity</h2>
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<p style="font-size:.88rem;color:var(--muted);background:var(--blank-bg);border-radius:6px;padding:10px 14px">
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<i>In this section, "the Member" refers specifically to Samuel S. James, whose death or
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incapacity triggers the succession provisions below — not to Annie or Richard in their
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capacity as Members under §3. Decide: this section does not yet address what happens to
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Annie's or Richard's own 1%/2% Membership Interest if one of them dies or becomes
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incapacitated (e.g., does it pass to their estate, get bought out by the Company, or
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pass to the other successor?). Revisit this with counsel before finalizing.</i></p>
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<p><b>Base order of succession</b> (applies to incapacity — see Death below for a modified
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order that applies on death). Successors are considered in this order, skipping any
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successor who is unavailable, unwilling, or (for Ethan and Micah, per the age condition
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below) not yet eligible:</p>
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<ol>
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<li><b>Annie Deondria Chatman</b></li>
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<li><b>Richard E. Williams</b></li>
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<li><b>Ethan Nathaniel James</b> (the Member's son) — eligible only upon reaching <b>age 40</b></li>
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<li><b>Micah Daniel James</b> (the Member's son) — eligible only upon reaching <b>age 40</b></li>
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</ol>
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<p><b>Incapacity.</b> Upon the Member's incapacity, the first eligible successor in the
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base order above shall act as <b>successor manager</b> of the Company — with full
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authority to manage bank accounts, subsidiaries, and Company affairs — until the Member is
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no longer incapacitated. Annie and Richard rank ahead of Ethan and Micah for this purpose
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regardless of the sons' age. This provision alone may not be sufficient for banks or third
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parties to recognize that authority; it should be backed by a <b>Durable Power of
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Attorney</b> naming the same successor(s) in the same order. <i>Draft/execute a Durable
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Power of Attorney consistent with this section.</i></p>
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<p><b>Death.</b> Upon the Member's death, the base order above is modified: any of Ethan or
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Micah who has <b>already reached age 40 at the time of the Member's death</b> ranks
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<b>ahead of</b> Annie and Richard, in their original relative order (Ethan ahead of Micah).
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Annie and Richard follow immediately after any such eligible son(s). A son who has
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<b>not</b> yet reached age 40 at the time of the Member's death is unaffected by this
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reordering and remains subject to the trust provision below.</p>
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<p style="font-size:.88rem;color:var(--muted);background:var(--blank-bg);border-radius:6px;padding:10px 14px">
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<i>Example: both sons 40+ at death → order is Ethan, Micah, Annie, Richard. Only Micah is
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40+ → order is Micah, Annie, Richard, then Ethan (in trust until 40). Neither son is 40+ →
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order remains Annie, Richard, then each son upon reaching 40 (held in trust until then).</i></p>
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<p>The first eligible successor under this death order is admitted as a member with the
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same rights the Member held. Because Ethan and Micah are not eligible until age 40, if
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either is in line but under 40 at the time of the Member's death, <b>their interest shall
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be held in trust</b> for their benefit until they reach age 40, administered by a trustee
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named in the Member's estate plan (rather than held directly under this Agreement). <i>This
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requires a trust structure in the Member's will/estate plan — coordinate this section, the
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successor order, and the trustee designation with an estate planning attorney.</i></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(s) determined above.</p>
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<h2>11. Transfer of Membership Interest</h2>
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<ul>
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<li><b>Economic vs. management rights.</b> A Member may assign, pledge, or transfer
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the <b>economic rights</b> (right to distributions/profits) in all or part of their
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membership interest at that Member's discretion, without that alone making the
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transferee a member.</li>
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<li><b>Admission as a member.</b> A transferee is admitted as a member — with voting and
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management rights, not just economic rights — only upon amendment of this Agreement
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under §12.</li>
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<li><b>Security interests.</b> A Member may pledge or grant a security interest in
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their membership interest (e.g., to a lender) without that action alone transferring
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management rights; the secured party's rights are limited to the economic interest
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unless and until admitted as a member per above.</li>
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<li><b>Transfer among the current Members.</b> Any transfer of Membership Interest
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among Samuel S. James, Annie Deondria Chatman, and Richard E. Williams themselves
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does not require a new admission under §12, but shall be recorded in the Company's
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books and, if it changes any Member's ownership percentage, reflected in an
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amendment updating §3.</li>
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</ul>
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<p><i>Confirm transfer/security-interest mechanics with an Indiana attorney and CPA, and
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consider whether a right of first refusal or other transfer restriction should apply to
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Annie's and Richard's interests before any transfer is attempted.</i></p>
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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 all
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Members</b>. Amendments are effective on the date stated in the amendment.</p>
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<p><i>Confirm whether unanimous consent (as stated) or a majority-in-interest vote
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should govern future amendments, including amendments that would change a Member's own
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percentage interest.</i></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 Members holding a majority of the Membership Interests (per §4); 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 any
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Member, if owed), then distributed to the Members pro rata in proportion to their
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Membership Interests, after which Articles of Dissolution shall be filed with the
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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 of
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Indiana</b>. If any provision is held invalid or unenforceable, the remaining provisions
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remain in full force and effect.</p>
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|
||
<h2>15. Definitions</h2>
|
||
<dl class="definitions">
|
||
<dt>"Company"</dt><dd>SnS Network Solutions Holdings LLC.</dd>
|
||
<dt>"Member"</dt><dd>each of Samuel S. James, Annie Deondria Chatman, and Richard E. Williams, and any successor or additional member admitted under this Agreement.</dd>
|
||
<dt>"Membership Interest"</dt><dd>a Member's ownership, economic, and (unless limited) management rights in the Company, expressed as a percentage per §3.</dd>
|
||
<dt>"Subsidiary"</dt><dd>any entity in which the Company holds a controlling or sole-member interest.</dd>
|
||
</dl>
|
||
|
||
<div class="execution">
|
||
<h2 style="margin-top:0">Execution</h2>
|
||
<p>The undersigned, being all of the Members of SnS Network Solutions Holdings LLC,
|
||
adopt and agree to this Amended and Restated Operating Agreement as of the Effective
|
||
Date first written above.</p>
|
||
|
||
<p style="margin-top:28px;font-weight:700;letter-spacing:.5px;color:var(--navy)">MEMBER — 97% Membership Interest</p>
|
||
|
||
<div class="sig-line"></div>
|
||
<div class="sig-label">Signature</div>
|
||
|
||
<p style="margin:0"><b>Printed name:</b> Samuel S. James</p>
|
||
|
||
<div class="sig-line" style="width:40%"></div>
|
||
<div class="sig-label">Date</div>
|
||
|
||
<p style="margin-top:28px;font-weight:700;letter-spacing:.5px;color:var(--navy)">MEMBER — 1% Membership Interest</p>
|
||
|
||
<div class="sig-line"></div>
|
||
<div class="sig-label">Signature</div>
|
||
|
||
<p style="margin:0"><b>Printed name:</b> Annie Deondria Chatman</p>
|
||
|
||
<div class="sig-line" style="width:40%"></div>
|
||
<div class="sig-label">Date</div>
|
||
|
||
<p style="margin-top:28px;font-weight:700;letter-spacing:.5px;color:var(--navy)">MEMBER — 2% Membership Interest</p>
|
||
|
||
<div class="sig-line"></div>
|
||
<div class="sig-label">Signature</div>
|
||
|
||
<p style="margin:0"><b>Printed name:</b> Richard E. Williams</p>
|
||
|
||
<div class="sig-line" style="width:40%"></div>
|
||
<div class="sig-label">Date</div>
|
||
</div>
|
||
|
||
</div>
|
||
|
||
<footer>
|
||
Prepared as a working draft. Review with an Indiana-licensed attorney before signing.
|
||
</footer>
|
||
|
||
</body>
|
||
</html>
|