This session will examine the case law in numerous states concerning the scope and reach of the “exculpatory clause” in operating agreements, not all of which are consistent or uniform, and each dependent on different forms of the JOA. It will also consider relevant state law as to the validity or permissibility, within the principle of “freedom of contract,” of a clause that releases liability in advance, and will consider the various iterations of the AAPL Model Form as it pertains to the evolution of the “exculpatory clause.”