Sample Term Sheet for Series A Round of Financing

December 2010

A Model Termsheet: Series A Financing

The following sample termsheet and annotations are by Jeffrey Steele, a partner with the law firm Morse Barnes-Brown & Pendleton P.C. Certain of the annotations and some of the language in this model term sheet (including the veto rights) are borrowed from the NVCA model legal documents. The NVCA model legal documents are important as they represent an effort on the part of the National Venture Capital Association (the NVCA) to standardize the form of definitive documents used for venture capital transactions involving its members. To date, the NVCA forms have achieved some measure of success as the “standard forms” used by venture capital firms and their legal counsel in preparing the definitive documents for venture capital financings. However, there are exceptions (perhaps growing) with some law firms (again) attempting to distinguish their service offering in this area by producing their own “proprietary” forms which are marketed as superior to the NVCA forms in some way(s).

Download the model term sheet here:
Term Sheet for Series A Round of Financing of XCorp

For more information on term sheet specifics, please contact Jeffrey Steele.

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