Driving Business Advantage

FOLEY HOAG LLP Driving Business Advantage Non Binding (to a point....) ■ Not a binding agreement to fund -Subject to actual documents, due diligence, other closing conditions (e.g. legal opinion) -But practically speaking, very unusual for the actual deal to vary significantly from the term sheet ■ Some provisions are usually legally binding -Confidentiality (company can't disclose terms or even existence of term sheet) -Exclusivity (company can't shop deal - usually 30-60 days) © 2014 Foley Hoag LLP. All Rights Reserved. 5

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