Driving Business Advantage

FOLEY HOAG LLP Control – Board Seats Driving Business Advantage - ▪ Usually preferred stock investors require one or more board seats ■ Challenge: What is proper balance between founders, investors (both existing and new), and outside directors? - Keep board size manageable – bigger is not always better ■ Sometimes a “board observer" rather than board seat ■Think carefully about "CEO board seat" and consider "Founder board seats" © 2014 Foley Hoag LLP. All Rights Reserved. 30 0

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