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1、【MeiWei81-优质实用版文档】 【MeiWei81-优质实用版文档】 TERMSHEET 【MeiWei81-优质实用版文档】 【MeiWei81-优质实用版文档】 PreliminaryNotes ThisTermSheetmapstotheNVCAmodeldocuments,andforconveniencetheprovisionsaregroupeda ccordingtotheparticularmodeldocumentinwhichtheymaybefound.AlthoughthisTermSheetisperhapsso mewhatlongerthana“typic
2、al“VCTermSheet,theaimistoprovidealevelofdetailthatmakestheTermSheetu sefulasbotharoadmapforthedocumentdraftersandasareferencesourceforthebusinesspeopletoquicklyfi nddealtermswithoutthenecessityofhavingtoconsultthelegaldocuments(assumingofcoursetherehavebe ennochangestothematerialdealtermspriortoeGec
3、utionofthefinaldocuments). 【MeiWei81-优质实用版文档】 【MeiWei81-优质实用版文档】 TERMSHEET FORSERIESAPREFERREDSTOCKFINANCINGOF INSERTCOMPANYNAME,INC. _,200_ ThisTermSheetsummarizestheprincipaltermsoftheSeriesAPreferredStockFinancingof_ _,Inc.,aDelawarecorporation(the“Company”).InconsiderationofthetimeandeGpensedevo
4、teda ndtobedevotedbytheInvestorswithrespecttothisinvestment,theNoShop/ConfidentialityandCounselan dEGpensesprovisionsofthisTermSheetshallbebindingobligationsoftheCompanywhetherornotthefina ncingisconsummated.NootherlegallybindingobligationswillbecreateduntildefinitiveagreementsareeG ecutedanddeliver
5、edbyallparties.ThisTermSheetisnotacommitmenttoinvest,andisconditionedontheco mpletionofduediligence,legalreviewanddocumentationthatissatisfactorytotheInvestors.ThisTermShe etshallbegovernedinallrespectsbythelawsoftheStateofDelaware. Offering Terms ClosingDate:AssoonaspracticablefollowingtheCompanysa
6、cceptanceofthisTermS heetandsatisfactionoftheConditionstoClosing(the“Closing”).provid eformultipleclosingsifapplicable Investors:InvestorNo.1:_shares(_%),$_ InvestorNo.2:_shares(_%),$_ aswellotherinvestorsmutuallyagreeduponbyInvestorsandtheCompan y AmountRaised:$_,including$_fromtheconversionofprinc
7、ipala ndinterestonbridgenotes.1 PricePerShare:$_pershare(basedonthecapitalizationoftheCompanysetfort hbelow)(the“OriginalPurchasePrice”). Pre-MoneyValuation:TheOriginalPurchasePriceisbaseduponafully-dilutedpre- moneyvaluationof$_andafully-dilutedpost- moneyvaluationof$_(includinganemployeepoolrepres
8、enting _%ofthefully-dilutedpost-moneycapitalization). Capitalization:TheCompanyscapitalstructurebeforeandaftertheClosingissetforthbel ow: Pre-FinancingPost-Financing Security#ofShares%#ofShares% 1 Modify this provision to account for staged investments or investments dependent on the achievement of
9、milestones by the Company. 【MeiWei81-优质实用版文档】 【MeiWei81-优质实用版文档】 CommonFounders CommonEmployeeStockPool Issued Unissued CommonWarrants SeriesAPreferred Total CHARTER2 Dividends:Alternative1:DividendswillbepaidontheSeriesAPreferredonanas-co nvertedbasiswhen,as,andifpaidontheCommonStock Alternative2:N
10、on- cumulativedividendswillbepaidontheSeriesAPreferredinanamounteq ualto$_pershareofSeriesAPreferredwhenandifdeclaredbytheB oard. Alternative3:TheSeriesAPreferredwillcarryanannual_%cumulati vedividendcompoundedannually,payableuponaliquidationorredem ption.Foranyotherdividendsordistributions,particip
11、ationwithCommo nStockonanas-convertedbasis.3 2 The Charter is a public document, filed with the Delaware Secretary of State, that establishes all of the rights, preferences, privileges and restrictions of the Preferred Stock. Note that if the Preferred Stock does not have rights, preferences, and pr
12、ivileges materially superior to the Common Stock, then (after Closing) the Company cannot defensibly grant Common Stock options priced at a discount to the Preferred Stock. 3 In some cases, accrued and unpaid dividends are payable on conversion as well as upon a liquidation event. Most typically, ho
13、wever, dividends are not paid if the preferred is converted. Another alternative is to give the Company the option to pay accrued and unpaid dividends in cash or in common shares valued at fair market value. The latter are referred to as “PIK” (payment-in-kind) dividends. 【MeiWei81-优质实用版文档】 【MeiWei8
14、1-优质实用版文档】 LiquidationPreference:Intheeventofanyliquidation,dissolutionorwindingupoftheCompany,th eproceedsshallbepaidasfollows: Alternative1(non- participatingPreferredStock):FirstpayonetimestheOriginalPurchas ePriceplusaccrueddividendsplusdeclaredandunpaiddividendsonea chshareofSeriesAPreferred.Th
15、ebalanceofanyproceedsshallbedistribu tedtoholdersofCommonStock. Alternative2(fullparticipatingPreferredStock):Firstpayonetimesth eOriginalPurchasePriceplusaccrueddividendsplusdeclaredandunpa iddividendsoneachshareofSeriesAPreferred.Thereafter,theSeriesAPr eferredparticipateswiththeCommonStockonanas-
16、convertedbasis. Alternative3(caponPreferredStockparticipationrights):Firstpayone timestheOriginalPurchasePriceplusaccrueddividendsplusdeclared andunpaiddividendsoneachshareofSeriesAPreferred.Thereafter,Seri esAPreferredparticipateswithCommonStockonanas- convertedbasisuntiltheholdersofSeriesAPreferredreceiveanaggregate of_timestheO
