THE DELAWARE LLC ACT-CONTRACTUAL EXCULPATION WORKS
The Delaware Limited Liability Company Act lets members provide virtually unlimited exculpation to managers and others from breaches of fiduciary duties. The Delaware case summarized under the link below makes clear that, if properly drafted, these exculpatory provisions work.
https://www.lexology.com/library/detail.aspx?g=6a5c3709-558c-485c-84ee-f56c912f91c3&l=8QCM3QN