This is twang's Typepad Profile.
Join Typepad and start following twang's activity
Join Now!
Already a member? Sign In
twang
Recent Activity
twang is now following Ted Wang
Mar 5, 2013
I've not had anyone from Canada and I don't know enough about Canadian law to have an informed opinion as to how they would work. I do, however, think that a good Canadian business attorney could use these documents as a source and fairly quickly modify them to meet the needs of Canadian law. That would be my suggestion.
Yes. Good catch. Will fix ASAP.
Toggle Commented Mar 16, 2010 on Series Seed Financing Documents at SeriesSeed.com
Technical issues are fixed for Firefox users (thanks Rob for the comment)
Acton: I can't prove the assertion, but it's a judgment that I've developed after years of doing this work and is seconded by my launch partners all of whom are experienced investors. With respect to the indemnity provision, the company is authorized to do give full indemnity to its officers (Article VII(B)) I think mandatory indemnity for officers to the fullest extent of the law in the charter is problematic because it can create odd incentives for terminated officers to sue the company. I've not seen that in any charters so don't believe it's a standard term.
Double trigger is a term of art that means (a) there is a change in control of the company (i.e. it is acquired) and (b) the employee is terminated without cause (or sometimes resigns for good reason). This is all built into a typical founder stock purchase agreement. I've not included those in this project (nor the other documents requested above).