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INTRODUCTION

LOW-PROFIT LIMITED LIABILITY COMPANY OPERATING AGREEMENT OF PROTOTYPE ENTERPRISE, L3C This LOW-PROFIT LIMITED LIABILITY COMPANY OPERATING AGREEMENT (this “Agreement”) is made as of Month __, Year, by and among (Name of Organization), (Type of Legal Entity LLC> etc.), a _________ (legal entity type), Name of Member/s (“Entrepreneur”), and Name of additional stakeholders (“Angel Investor” and, together with Entrepreneur) and the other parties listed on the signature pages from time to time attached hereto.

Certain capitalized terms used herein are defined in Section 1.7. [OPTIONAL LANGUAGE IF AMENDING AND RESTATING AN EXISTING LLC OPERATING AGREEMENT] [Certain of the Unitholders who are parties hereto are parties to that certain Limited Liability Company Operating Agreement of the Company, dated as of __________ __, 20__ (the “Prior Agreement”). The parties desire to amend and restate the Prior Agreement effective as of the date hereof for the purpose of changing the terms of the Prior Agreement as set forth herein. Upon execution and delivery of this Agreement by the requisite parties to the Prior Agreement needed to effect such an amendment thereof, the Prior Agreement shall be superseded by this Agreement and cease to be of any further force or effect.]

NOW, THEREFORE, in consideration of the mutual promises made herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

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