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Amended Operating Agreement

Amended Operating Agreement Template for Ireland

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Key Requirements PROMPT example:

Amended Operating Agreement

"I need an Amended Operating Agreement to add two new members to our Irish technology company and modify our profit distribution structure, with the changes to take effect from March 1, 2025."

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Document background
The Amended Operating Agreement is utilized when significant changes need to be made to an existing operating agreement under Irish law. This document becomes necessary when companies undergo structural changes, introduce new members, modify profit-sharing arrangements, or update management structures. It must comply with the Companies Act 2014 and other relevant Irish legislation, ensuring all modifications are properly documented and legally enforceable. The agreement typically includes detailed specifications of the amendments, references to the original agreement, and updated terms governing the company's operations. This document is particularly crucial during company evolution, mergers, or when adapting to new business circumstances, as it provides clear documentation of changes while maintaining legal compliance and protecting all parties' interests.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including the company and all members

2. Background: Context of the original operating agreement and reason for amendments

3. Definitions: Definitions of terms used throughout the agreement, including any new terms introduced by the amendments

4. Incorporation of Original Agreement: Reference to and incorporation of the original operating agreement

5. Amendments: Clear statement of all modifications to the original agreement

6. Company Structure: Updated organizational structure and membership classes

7. Management and Control: Revised management structure, voting rights, and decision-making processes

8. Capital Contributions: Updated provisions regarding capital contributions and additional funding requirements

9. Profit and Loss Allocation: Modified distribution of profits and losses among members

10. Transfer of Interests: Updated rules regarding transfer of membership interests

11. Dissolution and Liquidation: Revised procedures for company dissolution and asset distribution

12. General Provisions: Standard clauses including governing law, notices, and entire agreement

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Intellectual Property Rights: Include when amendments affect IP ownership or licensing

2. Employment Matters: Include when amendments affect management employment terms

3. Non-Compete Provisions: Include when amendments modify restrictions on member business activities

4. Tag-Along/Drag-Along Rights: Include when amendments affect share transfer mechanisms

5. International Operations: Include for companies with cross-border operations

6. Dispute Resolution: Include when changing dispute resolution mechanisms

7. Tax Matters: Include when amendments affect tax treatment or allocation

Suggested Schedules

1. Schedule 1 - Original Operating Agreement: Complete copy of the original operating agreement

2. Schedule 2 - Amended Provisions: Detailed list of all provisions being amended, showing original and new text

3. Schedule 3 - Current Members: Updated list of all members and their respective ownership interests

4. Schedule 4 - Capital Contributions: Updated schedule of all capital contributions made by members

5. Schedule 5 - Company Assets: Current list of company assets if significantly changed

6. Appendix A - Consent Resolutions: Copies of relevant member resolutions approving the amendments

7. Appendix B - Regulatory Approvals: Copies of any required regulatory approvals for the amendments

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


















































Clauses









































Relevant Industries

Technology

Financial Services

Professional Services

Manufacturing

Real Estate

Healthcare

Retail

Construction

Agriculture

Energy

Transportation

Education

Hospitality

Media and Entertainment

Telecommunications

Relevant Teams

Legal

Finance

Corporate Governance

Compliance

Risk Management

Executive Leadership

Board of Directors

Company Secretariat

Business Development

Operations

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Finance Director

Operations Director

Board Member

Compliance Officer

Risk Manager

Company Director

Partnership Manager

Business Development Director

Investment Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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