Premium Formation Package (deferred payment)


Description

Three months of services, including unlimited amount hours, with deferred payment of $10,000 in legal fees (and 0.5% in common stock) until the Company has raised at least $250,000 in outside financing or customer revenues.


What is included?

  • Preparation and filing of Certificate/Articles of Incorporation
  • Action of Incorporator - to appoint initial directors
  • Initial Board Resolutions/Consent - for issuance of founders’ shares, appointment of officers, opening of bank accounts and other corporate matters
  • Initial Stockholder Resolutions/Consent
  • Bylaws
  • Indemnification Agreements
  • Founder Common Stock Purchase Agreements, including vesting and acceleration provisions and IP assignments from founders to the new venture
  • Confidential Information and Invention Assignment Agreements (CIIAs)
  • Stock Option Plan
  • Form of Option Agreement and Restricted Common Stock Purchase Agreement pursuant to Option Plan
  • Promissory Notes and Board approvals to document founder debt
  • Advisory Agreements, Consulting Agreements, and Employment Agreements
  • Issuance of Options and Restricted Common Stock pursuant to Option Plan
  • Standard Securities Law Filings for stock/option issuances to California residents
  • Preparation of 83(b) Election documents with instructions for you to file
  • Preparation of the following form template documents for the Company’s use: Employee Offer Letters, NDAs, Consulting Agreements, and Advisory Board Agreements
  • Qualification of the Company to transact business in California/headquarters state
  • Setup and maintenance of Capitalization Table and Stock/Option Ledgers
  • 3 months of unlimited hours of legal counseling, drafting, negotiating and finalizing all of the above matters
  • Seed Financing Documentation: Drafting, negotiation and finalization of Convertible Note Financing Documents
  • Seed Financing Documentation: to post-closing securities law filings, and other post-closing matters

What is not included?

  • 1. This fee proposal is limited to specific items listed herein. All other work will be billed at our standard hourly rates set forth in the Engagement Letter, or as otherwise agreed between Inventus Law and Company. The above fee quotes do not include work relating to any of the following (each of which will be billed at our standard hourly rates set forth in the Engagement Letter, or as otherwise agreed between Inventus Law and Company): Patents, Trademarks, or Copyrights; Terms of Use or Privacy Policies; Securities compliance research and filings for U.S. residents living outside the state of California; Commercial, licensing, or other individually negotiated entity-to-entity master services agreements (or similar); Banking or financial institution regulatory matters; Financings, except as described in the Premium Package, but in no event to include the issuance of any Preferred Stock; or Litigation matters.
  • 2. The above fee quotes do not include any out-of-pocket expenses, filing fees, or other disbursements made by Inventus Law on behalf of the Company. Initial incorporation fees for the state of Delaware, including the state filing fees and the fees charged by the filing service (including fee for acting as an agent for the first full year) are approximately $370. Additional fees are required for the following: securities compliance filings, qualification to do business in various states, obtaining an EIN number (in some cases), prices of which are available upon request.