美国优先股法律模板之seriesapreferredstockpurchadocx.docx
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美国优先股法律模板之seriesapreferredstockpurchadocx.docx
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美国优先股法律模板之seriesapreferredstockpurchadocx
SERIESAPREFERREDSTOCKPURCHASEAGREEMENT
PreliminaryNote
TheStockPurchaseAgreementsetsforththebasictermsofthepurchaseandsaleofthepreferredstocktotheinvestors(suchasthepurchaseprice,closingdate,conditionstoclosing)andidentifiestheotherfinancingdocuments.Generallythisagreementdoesnotsetfortheither
(1)thecharacteristicsofthestockbeingsold(whicharedefinedintheCertificateofIncorporation)or
(2)therelationshipamongthepartiesaftertheclosing,suchasregistrationrights,rightsoffirstrefusalandco-sale,votingarrangements(thesemattersoftenimplicateotherpersonsthanjusttheCompanyandtheinvestorsinthisroundoffinancing,andareusuallyembodiedinseparateagreementstowhichthoseotherspersonsareparties,orinsomecasesbytheCertificateofIncorporation).ThemainitemsofnegotiationintheStockPurchaseAgreementarethereforethepriceandnumberofsharesbeingsold,andtherepresentationsandwarrantiesthattheCompany,andsometimestheFoundersaswell,mustmaketotheinvestors.
TABLEOFCONTENTS
NotetoDrafter:
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Page
ExhibitA-SCHEDULEOFPURCHASERS
ExhibitB-FORMOFAMENDEDANDRESTATED
CERTIFICATEOFINCORPORATION
ExhibitC-DISCLOSURESCHEDULE
ExhibitD-FORMOFINDEMNIFICATIONAGREEMENT
ExhibitE-FORMOFINVESTORS’RIGHTSAGREEMENT
ExhibitF-FORMOFMANAGEMENTRIGHTSLETTER
ExhibitG-FormofRightofFirstRefusalandCo-SaleAgreement
ExhibitH-FORMOFVOTINGAGREEMENT
ExhibitI-FORMOFLEGALOPINIONOF[COMPANYCOUNSEL]
[ExhibitJ-MILESTONEEVENTS]
ADDENDUMTOSTOCKPURCHASEAGREEMENT:
SAMPLEFOUNDERREPRESENTATIONSANDWARRANTIES
SERIESAPREFERREDSTOCKPURCHASEAGREEMENT
THISSERIES APREFERREDSTOCKPURCHASEAGREEMENT(this“Agreement”),ismadeasofthe[__]dayof[________,20_]byandamong[____________],aDelawarecorporation(the“Company”),theinvestorslistedonExhibitAattachedtothisAgreement(eacha“Purchaser”andtogetherthe“Purchasers”)[andthepersonslistedas“Founders”onthesignaturepagestothisAgreement(eacha“Founder”andtogetherthe“Founders”)].
Thepartiesherebyagreeasfollows:
1.PurchaseandSaleofPreferredStock
.
1.1SaleandIssuanceofSeries APreferredStock
.
(a)TheCompanyshalladoptandfilewiththeSecretaryofStateoftheStateofDelawareonorbeforetheInitialClosing(asdefinedbelow)theAmendedandRestatedCertificateofIncorporationintheformofExhibitBattachedtothisAgreement(the“RestatedCertificate”).
(b)SubjecttothetermsandconditionsofthisAgreement,eachPurchaseragreestopurchaseattheClosingandtheCompanyagreestosellandissuetoeachPurchaserattheClosingthatnumberofsharesofSeries APreferredStock,$[__]parvaluepershare(the“SeriesAPreferredStock”),setforthoppositeeachPurchaser’snameonExhibitA,atapurchasepriceof$[__]pershare.ThesharesofSeries APreferredStockissuedtothePurchaserspursuanttothisAgreement(includinganysharesissuedattheInitialClosingandany[MilestoneSharesor]AdditionalShares,asdefinedbelow)shallbereferredtointhisAgreementasthe“Shares.”
1.2Closing;Delivery
.
(a)TheinitialpurchaseandsaleoftheSharesshalltakeplaceremotelyviatheexchangeofdocumentsandsignatures,at[____][_].m.,on[__________,20_],oratsuchothertimeandplaceastheCompanyandthePurchasersmutuallyagreeupon,orallyorinwriting(whichtimeandplacearedesignatedasthe“InitialClosing”).Intheeventthereismorethanoneclosing,theterm“Closing”shallapplytoeachsuchclosingunlessotherwisespecified.
(b)AteachClosing,theCompanyshalldelivertoeachPurchaseracertificaterepresentingtheSharesbeingpurchasedbysuchPurchaseratsuchClosingagainstpaymentofthepurchasepricethereforbycheckpayabletotheCompany,bywiretransfertoabankaccountdesignatedbytheCompany,bycancellationorconversionofindebtednessoftheCompanytoPurchaser[,includinginterest],orbyanycombinationofsuchmethods.
1.3SaleofAdditionalSharesofPreferredStock
.
(a)AftertheInitialClosing,theCompanymaysell,onthesametermsandconditionsasthosecontainedinthisAgreement,upto[_________]additionalshares(subjecttoappropriateadjustmentintheeventofanystockdividend,stocksplit,combinationorsimilarrecapitalizationaffectingsuchshares)ofSeriesAPreferredStock(the“AdditionalShares”),tooneormorepurchasers(the“AdditionalPurchasers”)[reasonablyacceptabletoPurchasersholdinga[specifypercentage]ofthethenoutstandingShares],providedthat(i)suchsubsequentsaleisconsummatedpriorto[90]daysaftertheInitialClosing(ii)eachAdditionalPurchasershallbecomeapartytotheTransactionAgreements(asdefinedbelow)(otherthantheManagementRightsLetter),byexecutinganddeliveringacounterpartsignaturepagetoeachoftheTransactionAgreements[;and(iii)[_________],counselfortheCompany,providesanopiniondatedasofthedateofsuchClosingthattheoffer,issuance,saleanddeliveryoftheAdditionalSharestotheAdditionalPurchasersdonotrequireregistrationundertheSecuritiesActof1933,asamended,orapplicablestatesecuritieslaws].ExhibitAtothisAgreementshallbeupdatedtoreflectthenumberofAdditionalSharespurchasedateachsuchClosingandthepartiespurchasingsuchAdditionalShares.
(b)[AftertheInitialClosing,theCompanyshallsell,andthePurchasersshallpurchase,onthesametermsandconditionsasthosecontainedinthisAgreement,upto[_____________]additionalsharesofSeriesAPreferredStock(the“MilestoneShares”),proratainaccordancewiththenumberofSharesbeingpurchasedbyeachsuchPurchaseratallpriorClosings,onthecertificationbythe[Board][Purchasers]thattheeventsspecifiedinExhibitJattachedtothisAgreementhaveoccurred(the“MilestoneEvents”).ThedateofthepurchaseandsaleoftheMilestoneSharesarereferredtointhisAgreementasthe“MilestoneClosing.”]
1.4[UseofProceeds
.InaccordancewiththedirectionsoftheCompany’sBoardofDirectors,asitshallbeconstitutedinaccordancewiththeVotingAgreement,theCompanywillusetheproceedsfromthesaleoftheSharesforproductdevelopmentandothergeneralcorporatepurposes.]
1.5DefinedTermsUsedinthisAgreement
.Inadditiontothetermsdefinedabove,thefollowingtermsusedinthisAgreementshallbeconstruedtohavethemeaningssetforthorreferencedbelow.
(a)“Affiliate”means,withrespecttoanyspecifiedPerson,anyotherPersonwho,directlyorindirectly,controls,iscontrolledby,orisundercommoncontrolwithsuchPerson,including,withoutlimitation,anygeneralpartner,managingmember,officerordirectorofsuchPersonoranyventurecapitalfundnoworhereafterexistingthatiscontrolledbyoneormoregeneralpartnersormanagingmembersof,orsharesthesamemanagementcompanywith,suchPerson.
(b)“Code”meanstheInternalRevenueCodeof1986,asamended.
(c)“CompanyIntellectualProperty”meansallpatents,patentapplications,trademarks,trademarkapplications,servicemarks,servicemarkapplications,tradenames,copyrights,tradesecrets,domainnames,maskworks,informationandproprietaryrightsandprocesses,similarorotherintellectualpropertyrights,subjectmatterofanyoftheforegoing,tangibleembodimentsofanyoftheforegoing,licensesin,toandunderanyoftheforegoing,andanyandallsuchcases[thatareownedorusedby][asarenecessaryto]theCompanyintheconductoftheCompany’sbusinessasnowconductedandaspresentlyproposedtobeconducted.
(d)“IndemnificationAgreement”meanstheagreementbetweentheCompanyandthedirector[andPurchaserAffiliates]designatedbyanyPurchaserentitledtodesignateamemberoftheBoardofDirectorspursuanttotheVotingAgreement,datedasofthedateoftheInitialClosing,intheformofExhibitDattachedtothisAgreement.
(e)“Investors’RightsAgreement”meanstheagreementamongtheCompanyandthePurchasers[andcertainotherstockholdersoftheCompany]datedasofthedateoftheInitialClosing,intheformofExhibitEattachedtothisAgreement.
(f)“KeyEmployee”meansanyexecutive-levelemployee(includingdivisiondirectorandvicepresident-levelpositions)aswellasanyemployeeorconsultantwhoeitheraloneorinconcertwithothersdevelops,invents,programsordesignsanyCompanyIntellectualProperty.
(g)“Knowledge”includingthephrase“totheCompany’sknowledge”shallmeantheactualknowledge[afterreasonableinvestigation]ofthefollowingofficers:
[specifynames].
(h)“ManagementRightsLetter”meanstheagreementbetweentheCompanyand[Purchaser],datedasofthedateoftheInitialClosing,intheformofExhibitFattachedtothisAgreement.
(i)“MaterialAdverseEffect”meansamaterialadverseeffectonthebusiness,assets(includingintangibleassets),liabilities,financialcondition,property,prospectsorresultsofoperationsoftheCompany.
(j)“Person”meansanyindividual,corporation,partnership,trust,limitedliabilitycompany,associationorotherentity.
(k)“Pu
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