Operating Agreement

OperatingAgreementAMENDEDANDRESTATEDOPERATINGAGREEMENTOFCCC,LLCThisAMENDEDANDRESTATEDOPERATINGAGREEMENT(theAgreement)isenteredintoasof_________,_________,_________(M/D/Y),betweenAAA,Inc.,a_________(state)corporation(AAA),andBBBInc.AMENDEDANDRESTATEDOPERATINGAGREEMENTOFCCC,LLCThisAMENDEDANDRESTATEDOPERATINGAGREEMENT(the'Agreement')isenteredintoasof_________,_________,_________(M/D/Y),betweenAAA,Inc.,a_________(state)corporation('AAA'),andBBBInc.,a_________(state)corporation('BBB'),bothofwhicharereferredtoasthe'Members'andindividuallyasa'Member.'PromptlyfollowingtheexecutionofthisAgreement,BBBintendstotransferallofitsinterestintheCompanytoUST,Inc.,itsindirectwhollyownedsubsidiary('UST')(uponsuchevent,theterm'BBB'asusedhereinshallbedeemedtoapplytoUSTforallpurposesofthisAgreement).Alimitedliabilitycompanywasformedinaccordancewiththeprovisionsofthe_________(state)LimitedLiabilityCompanyAct(the'Act')underthenameofCCC,LLC(the'Company')pursuanttoaCertificateofFormationfiled_________,_________,_________(M/D/Y),withthe_________(state)SecretaryofState.AnOperatingAgreementoftheCompanywasenteredintoasofthatsamedate,underwhichAAAwasthesolemember.PursuanttoaSubscriptionAgreementbyandbetweenBBBandtheCompanydatedasof_________,_________,_________(M/D/Y)(the'SubscriptionAgreement'),BBBagreedtopurchaseanequityinterestintheCompanyinexchangefortheCapitalNote(ashereinafterdefined).Additionally,AAAagreedunderaContributionAgreementdatedasof_________,_________,_________(M/D/Y)byandamongAAAandtheCompany(the'ContributionAgreement')tocontributecertainassets(the'AAAContributedAssets')totheCompany.Inlightoftheforegoing,theMembersnowdesiretoamendandrestatetheOperatingAgreementoftheCompany.Accordingly,fromandafterthedatehereof,theaffairsoftheCompanywillbegovernedbythisAmendedandRestatedOperatingAgreement.Inconsiderationoftheforegoing,andofthemutualpromisescontainedherein,theMembersagreeasfollows:ARTICLE1THELIMITEDLIABILITYCOMPANY1.1Name.ThenameofthelimitedliabilitycompanyshallbeCCC,LLC.1.2CertificateofFormation.ACertificateofFormationthatcomplieswiththerequirementsoftheActhasbeenproperlyfiledwiththe_________(state)SecretaryofState.Inthefuture,theManagersshallexecutesuchfurtherdocuments(includingamendmentstotheCertificateofFormation)andtakesuchfurtheractionasshallbeappropriateornecessarytocomplywiththerequirementsoflawfortheformationandoperationofalimitedliabilitycompanyinallstatesandcountieswheretheCompanyelectstocarryonitsbusiness.1.3Business.ThebusinessoftheCompanyshallbe(a)toprovideadvanceddigitalproduction,post-productionandtransmissionfacilities,digitalmediastorageanddistributionservices,telephony-baseddatastorageandenhancedservices,accessandroutingservices;(b)todoanyandallotherthingsnecessary,desirableorincidentaltotheforegoingpurposes;and(c)toengageinsuchotherlegalandlawfulbusinessactivitiesastheManagementCommitteemaydeemdesirable.TheCompanymaysellorotherwisedisposeofallorsubstantiallyallofitsassetsandanysuchsaleordispositionshallbeconsideredtobewithinthescopeoftheCompany'sbusiness.1.4RegisteredOffice;Agent.TheregisteredofficeoftheCompanyshallbeat_________(address),orsuchotherplacein_________(state)asmaybeselectedbytheManagementCommittee.TheCompany'sregisteredagentatsuchaddressshallbeRichardM.Jones.ARTICLE2DEFINITIONS2.1CashFlow.'CashFlow'shallmeantheexcessofallcashreceiptsoftheCompanyoverallcashdisbursementsoftheCompany.2.2Code.'Code'shallmeantheInternalRevenueCodeof1986,asamended,oranysuccessorstatute.2.3Manager.'Manager'isdefinedinSection7.1(a).2.4ProfitorLoss.'Profit'or'Loss'shallmeantheprofitorlossoftheCompanyasdeterminedunderthecapitalaccountingrulesofTreasuryRegulation(S)1.704-1(b)(2)(iv)forpurposesofadjustingthecapitalaccountsoftheMembersincluding,withoutlimitation,theprovisionsofparagraphs(b),(f)and(g)ofthoseregulationsrelatingtothecomputationofitemsofincome,gain,deductionandloss.2.5SharingRatio.'SharingRatio'shallmeanthepercentagerepresentingtheratiothatthenumberofUnitsownedbyaMemberbearstotheaggregatenumberofUnitsownedbyalloftheMembers.UpontheissuanceofadditionalUnitsorthetransfer,repurchaseorcancellationofanyoutstandingUnits,theSharingRatiosoftheMembersshallberecalculatedasofthedateofsuchissuance,transfer,repurchaseorcancellation.TherecalculatedSharingRatioofeachMembershallbethepercentagerepresentingtheratiothatthenumberofUnitsownedbytheMemberbearstotheaggregatenumberofUnitsownedbyalloftheMembersaftergivingeffecttotheissuance,transfer,repurchaseorcancellation.2.6TreasuryRegulations.'TreasuryRegulations'shallmeanregulationsissuedbytheDepartmentofTreasuryundertheCode.AnyreferencetoaspecificsectionorsectionsoftheTreasuryRegulationsshallbedeemedtoincludeareferencetoanycorrespondingprovisionoffutureregulationsundertheCode.2.7Units.'Unit'shallmeananequityinterestintheCompany.TheCompanyshallhavetwoclassesofUnits:ClassAandClassB.ThetwoclassesofUnitsshallbeidenticalinallrespectsexceptfortheirrespectiveVotingInterests.ThenumberofUnitsownedbyeachMembershallbedeterminedinconnectionwiththeissuanceofamembershipinterestintheCompanyinex