A term sheet is usually non-binding document in bullet point format which sets the stage among parties for a transaction or financial investment (venture capital or angel investor). Term sheets represent the negotiated terms proposed to date. They usually include information pertaining to funding, liquidation, and corporate governance. Once the term sheet is executed, it provides the foundation for drafting the final agreement.
Here are some non-binding term sheets currently available from RealDealDocs.com:
1) Term Sheet
Great Lakes Gas Transmission Limited Partnership (“Great Lakes”) and TransCanada PipeLines Limited (“Shipper”) Term Sheet for Proposed Service (the “Term Sheet”)
2) Term Sheet
Chief Executive Officer Term Sheet – Stone Energy Corporation
3) Term Sheet
Weight Watchers International, Inc. Term Sheet for Employee Restricted Stock Unit Awards
4) Term Sheet
IDT Corporation, SPIP LLC, Straight Path Communications Inc, Straight Path IP Group, Inc
RealDealDocs also offers examples of professionally drafted binding term sheets.
First Foods Group, Inc.
Abbott Laboratories, Advanced Life Sciences Holdings, Inc
BULLION MONARCH MINING, INC.
DraftDay Fantasy Sports, Inc, Rant, Inc