美国优先股法律模板之Series A Preferred Stock Purchase Agreem

SERIES A PREFERRED STOCK PURCHASE AGREEMENT

Last updated June 2013

Preliminary Note

The Stock Purchase Agreement sets forth the basic terms of the purchase and sale of the preferred stock to the investors (such as the purchase price, closing date, conditions to closing) and identifies the other financing documents. Generally this agreement does not set forth either (1) the characteristics of the stock being sold (which are defined in the Certificate of Incorporation) or (2) the relationship among the parties after the closing, such as registration rights, rights of first refusal and co-sale, voting arrangements (these matters often implicate other persons than just the Company and the investors in this round of financing, and are usually embodied in separate agreements to which those others persons are parties, or in some cases by the Certificate of Incorporation). The main items of negotiation in the Stock Purchase Agreement are therefore the price and number of shares being sold, and the representations and warranties that the Company, and sometimes the Founders as well, must make to the investors.

Last updated June 2013

TABLE OF CONTENTS

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Page 1.

Purchase and Sale of Preferred Stock ..................................................................................1 1.1 Sale and Issuance of Series A Preferred Stock ........................................................1 1.2 Closing; Delivery .....................................................................................................1 1.3 Sale of Additional Shares of Preferred Stock ..........................................................2 1.4 [Use of Proceeds] .....................................................................................................3 1.5 Defined Terms Used in this Agreement...................................................................3 Representations and Warranties of the Company ................................................................5 2.1 Organization, Good Standing, Corporate Power and Qualification ........................6 2.2 Capitalization ...........................................................................................................6 2.3 Subsidiaries ..............................................................................................................8 2.4 Authorization ...........................................................................................................8 2.5 Valid Issuance of Shares ..........................................................................................9 2.6 Governmental Consents and Filings ........................................................................9 2.7 Litigation ..................................................................................................................9 2.8 Intellectual Property ...............................................................................................10 2.9 Compliance with Other Instruments ......................................................................11 2.10 Agreements; Actions ..............................................................................................12 2.11 Certain Transactions ..............................................................................................13 2.12 Rights of Registration and Voting Rights ..............................................................13 2.13 Property ..................................................................................................................14 2.14 Financial Statements ..............................................................................................14 2.15 Changes ..................................................................................................................14 2.16 Employee Matters ..................................................................................................16 2.17 Tax Returns and Payments.....................................................................................18 2.18 Insurance ................................................................................................................18 2.19 Employee Agreements ...........................................................................................18 2.20 Permits ...................................................................................................................18 2.21 Corporate Documents ............................................................................................18 2.22 [83(b) Elections] ....................................................................................................19 2.23 [Real Property Holding Corporation] ....................................................................19 2.24 Environmental and Safety Laws ............................................................................19 2.25 [Qualified Small Business Stock] ..........................................................................20 2.26 Disclosure ..............................................................................................................20 2.27 [Small Business Concern] ......................................................................................21 2.28 [Foreign Corrupt Practices Act] .............................................................................21

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TABLE OF CONTENTS (continued)

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[Data Privacy] ........................................................................................................21

Representations and Warranties of the Purchasers ............................................................22 3.1 Authorization .........................................................................................................22 3.2 Purchase Entirely for Own Account ......................................................................22 3.3 Disclosure of Information ......................................................................................23 3.4 Restricted Securities...............................................................................................23 3.5 No Public Market ...................................................................................................23 3.6 Legends ..................................................................................................................23 3.7 Accredited Investor ................................................................................................24 3.8 Foreign Investors ...................................................................................................24 3.9 No General Solicitation..........................................................................................24 3.10 Exculpation Among Purchasers .............................................................................24 3.11 Residence ...............................................................................................................25 3.12 [Consent to Promissory Note Conversion and Termination] .................................25 Conditions to the Purchasers’ Obligations at Closing .......................................................25 4.1 Representations and Warranties .............................................................................26 4.2 Performance ...........................................................................................................26 4.3 Compliance Certificate ..........................................................................................26 4.4 Qualifications .........................................................................................................26 4.5 Opinion of Company Counsel ...............................................................................26 4.6 Board of Directors..................................................................................................26 4.7 Indemnification Agreement ...................................................................................26 4.8 Investors’ Rights Agreement .................................................................................26 4.9 Right of First Refusal and Co-Sale Agreement .....................................................26 4.10 Voting Agreement ..................................................................................................26 4.11 Restated Certificate ................................................................................................27 4.12 Secretary’s Certificate ............................................................................................27 4.13 Proceedings and Documents ..................................................................................27 4.14 Minimum Number of Shares at Initial Closing......................................................27 4.15 Management Rights ...............................................................................................27 4.16 [SBA Matters] ........................................................................................................27 4.17 [Preemptive Rights] ...............................................................................................27 Conditions of the Company’s Obligations at Closing .......................................................27 5.1 Representations and Warranties .............................................................................28 5.2 Performance ...........................................................................................................28 5.3 Qualifications .........................................................................................................28 5.4 Investors’ Rights Agreement .................................................................................28 5.5 Right of First Refusal and Co-Sale Agreement .....................................................28 5.6 Voting Agreement ..................................................................................................28 5.7 [Minimum Number of Shares at Initial Closing] ...................................................28 Miscellaneous ....................................................................................................................28

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ADDENDUM TO STOCK PURCHASE AGREEMENT: SAMPLE FOUNDER REPRESENTATIONS AND WARRANTIES Exhibit A - Exhibit B - Exhibit C - Exhibit D - Exhibit E - Exhibit F - Exhibit G - Exhibit H - Exhibit I - [Exhibit J - SCHEDULE OF PURCHASERS FORM OF AMENDED AND RESTATED CERTIFICATE OF INCORPORATION DISCLOSURE SCHEDULE

FORM OF INDEMNIFICATION AGREEMENT FORM OF INVESTORS’ RIGHTS AGREEMENT FORM OF MANAGEMENT RIGHTS LETTER

FORM OF RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT

FORM OF VOTING AGREEMENT

FORM OF LEGAL OPINION OF [COMPANY COUNSEL] MILESTONE EVENTS]

Survival of Warranties ...........................................................................................28 Successors and Assigns..........................................................................................28 Governing Law ......................................................................................................29 Counterparts ...........................................................................................................29 Titles and Subtitles .................................................................................................29 Notices ...................................................................................................................29 No Finder’s Fees ....................................................................................................29 Fees and Expenses .................................................................................................30 [Attorneys’ Fees] ...................................................................................................30 Amendments and Waivers .....................................................................................30 Severability ............................................................................................................30 Delays or Omissions ..............................................................................................30 Entire Agreement ...................................................................................................31 [Corporate Securities Law] ....................................................................................31 Dispute Resolution .................................................................................................31 [No Commitment for Additional Financing] .........................................................32 [Waiver of Conflicts] .............................................................................................33

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