Jones Financial adopts 22nd Partnership Agreement, adds profits interests and revises allocation rules

JONES FINANCIAL COMPANIES LLLP

New profits interests issuable under the amended partnership agreement.
Net income/loss definition expanded to include other comprehensive income (GAAP).
Joint venture definition broadened to include ventures with financial advisor teams.
Allocation and distribution provisions updated to account for profits interests.
Other non-material technical and conforming changes made.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

JONES FINANCIAL COMPANIES LLLP: Adopted the Twenty-Second Amended and Restated Agreement of Registered Limited Liability Limited Partnership, which amended the prior partnership agreement to provide for issuance of Profits Interests, modify allocation and distribution provisions, adjust net income/loss definitions, expand joint ve (effective 2023-08-15).

Change: charter amendment
Effective: 2023-08-15

Exact text from the filing

On August 15, 2023, The Jones Financial Companies, L.L.L.P. (the “Partnership”) adopted the Twenty-Second Amended and Restated Agreement of Registered Limited Liability Limited Partnership (the “22nd Partnership Agreement”), which amended and restated the Partnership’s Twenty-First Amended and Restated Agreement of Registered Limited Liability Limited Partnership (the “21st Partnership Agreement”) in its entirety.

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Source: SEC EDGAR

accession 0000950170-23-042921

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