Ti=ONE-PAGE SIMPLE AGREEMENT FOR FUTURE TOKENS (“{Def.OP_SAFT}”)
Intro.1.sec=Dated as of {EffectiveDate.YMD}
Intro.2.sec={Def.Purchase_Amount}: {PurchaseAmount.$}
Intro.3.sec={_Discount_Rate}: {DiscountRate.%}
Intro.4.sec={Def.Investor}: {Investor.Name.Full}
Intro.5.sec={Def.Company}: {Company.Name.Full}
Intro.00.sec=Undefined capitalized terms have the meanings attributed to them in the One-Page Simple Agreement for Future {_Tokens} Glossary, available at https://github.com/BranDAOn/OP-SAFT/blob/main/OP-SAFT-Glossary.md. The terms and conditions of the One-Page Simple Agreement for Future {_Tokens} Annex, available at https://github.com/BranDAOn/OP-SAFT/blob/main/OP-SAFT-ANNEX.md, are incorporated fully herein.
Intro.=[G/Z/ol-none/s5]
Event.Ti=Events
Event.Pricing-or-Distribution.Ti={_Next_Token_Pricing_or_Public_Distribution_Event}
Event.Pricing-or-Distribution.sec=If a {_Next_Token_Pricing_or_Public_Distribution_Event} occurs, the {_Investor} will obtain {_Future_Token_Right}s on the date of such {_Next_Token_Pricing_or_Public_Distribution_Event}. As promptly as practicable following such {_Next_Token_Pricing_or_Public_Distribution_Event}, the {_Company} shall request that a {_Token_Issuer}, subject to the conditions set forth in this {_OP_SAFT}, deliver the {_Investor_Tokens} to {_Investor} as promptly as practicable. Prior to, and as a condition on the delivery of the {_Investor_Tokens}, the {_Investor} shall (i) execute and deliver to the {_Company} the {_Token_Sale_Documents}; (ii) provide to the {_Company} a network address for delivery of the {_Investor_Tokens}; and (iii) do, perform, deliver, and execute all such further acts, documents, and other things as the {_Company} may reasonably request to comply with applicable laws and regulation, including all {_AML_and_KYC_Forms}. If the {_Investor} fails to meet any of the conditions above, such {_Token_Issuer} may hold the {_Investor_Tokens} in escrow until such conditions are met, and such escrow will constitute delivery of the {_Investor_Tokens} in accordance with this {_OP_SAFT}.
Event.Pricing-or-Distribution.=[G/Z/Base]
Event.Dissolution.Ti={_Dissolution_Event}
Event.Dissolution.sec=If there is a {_Dissolution_Event}, the {_Company} shall promptly pay the {_Purchse_Amount} to the {_Investor} following such {_Dissolution_Event}, prior and in preference to any Distribution of any of the assets of the {_Company} to holders of outstanding {_Capital_Stock} by reason of their ownership thereof. If, immediately prior to the consummation of the {_Dissolution_Event}, the assets of the {_Company} legally available for distribution to the {_Investor} and all holders of all “Convertible Notes”, “SAFEs” and “SAFTs” (the “Dissolving {_Investor}s”) are insufficient to permit the payment to the Dissolving {_Investor}s of their respective {_Purchse_Amount}s then the entire assets of the {_Company} legally available for distribution will be distributed with equal priority and pro rata among the Dissolving {_Investor}s in proportion to the {_Purchse_Amount}s they would otherwise be entitled to receive pursuant to this Section 1(b).
Event.Dissolution.=[G/Z/Base]
Event.Termination.Ti=Termination
Event.Termination.sec=This {_OP_SAFT} will expire and terminate (without relieving the {_Company} of any obligations arising from a prior breach of or non-compliance with this {_OP_SAFT}) upon either (i) the issuance of {_Future_Token_Right}s to the {_Investor} pursuant to Section 1(a); or (ii) the payment of amounts due the {_Investor} pursuant to Sections 1(b).
Event.Termination.=[G/Z/Base]
Event.sec=
- {Event.Pricing-or-Distribution.Sec}
- {Event.Dissolution.Sec}
- {Event.Termination.Sec}
Event.=[G/Z/Base]
Lockup.Ti=Lockup
Lockup.PariPassu.Ti=Acknowledgement
Lockup.PariPassu.sec=The Restricted Interests shall be subject to the restrictions set forth in this Section 2 (collectively, the “Lockup”). The Lockup shall be applicable to the {_Investor} only if applied pari passu to all employees (not including third-party contractors), officers, directors, stockholders of the {_Company} and any investor in the {_SAFT_Round} are subject to the restrictions. To the extent permitted by applicable law, any waiver or termination of the Lockup by the {_Company} shall apply pari passu to the {_Investor}.
Lockup.PariPassu.=[G/Z/Base]
Lockup.Release.Ti=Lockup
Lockup.Release.0.sec=The {_Investor} agrees that it will not {_Transfer} any Restricted Interests unless such {_Transfer} is in accordance with the release schedule set forth below (each such date, respectively, a “Release Date”):
Lockup.Release.1.sec={Release.1.%} of the Restricted Interests shall be released from the Lockup restrictions set forth in Section 2(a) on the {Release.1.Period} anniversary of the {_Next_Token_Pricing_or_Public_Distribution_Event};
Lockup.Release.2.sec={Release.2.%} of the Restricted Interests shall be released from the Lockup restrictions set forth in Section 2(a) on the {Release.2.Period} anniversary of the {_Next_Token_Pricing_or_Public_Distribution_Event}; and
Lockup.Release.3.sec={Release.3.%} of the Restricted Interests shall be released from the Lockup restrictions set forth in Section 2(a) on the {Release.3.Period} anniversary of the {_Next_Token_Pricing_or_Public_Distribution_Event}.
Lockup.Release.00.sec=Notwithstanding the Lockup, the {_Investor} may stake its Restricted Interests in accordance with the whitepaper applicable to the {_Tokens}, available at {Whitepaper.URL} (the “Staking Mechanism”). The {_Investor} agrees that it will not {_Transfer} any {_Tokens} distributed to the {_Investor} pursuant to the Staking Mechanism (such {_Tokens}, referred to herein as the “Staking Rewards” and such restriction on transfer, the “Staking Reward Restrictions”); provided that one-hundred percent (100%) of the Staking Rewards shall be released from the Staking Reward Restrictions on the one (1) year anniversary of the distribution of such Staking Rewards.
Lockup.Release.=[G/Z/ol-none/s3]
Lockup.sec=
- {Lockup.PariPassu.Sec}
- {Lockup.Release.Sec}
Lockup.=[G/Z/ol/2]
Note=Signature page follows
Signature.0.sec=IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed and delivered as of the date first written above.
Signature.1.sec=
{Company.US.Contract.By.Sec}
Signature.2.sec=
{Investor.US.Contract.By.Sec}
Signature.00.sec=
{Annex.Sec}
{Def.Sec}
Signature.=[G/Z/ol-none/s2]
Annex.=[G/OP-SAFT/PO/Annex/0.md]
Def.=[G/OP-SAFT/PO/Glossary/0.md]
sec={Intro.sec}
- {Event.Sec}
- {Lockup.Sec}
=[G/Z/Base]
Def.Affiliate={_Affiliate}
Def.AML_and_KYC_Forms={_AML_and_KYC_Forms}
Def.Applicable_Exchange_Rate={_Applicable_Exchange_Rate}
Def.Capital_Stock={_Capital_Stock}
Def.Company={_Company}
Def.Discount_Rate={_Discount_Rate}
Def.Dissolution_Event={_Dissolution_Event}
Def.Distribution={_Distribution}
Def.Future_Token_Right={_Future_Token_Right}
Def.Investor={_Investor}
Def.Investor_Tokens={_Investor_Tokens}
Def.Listing_Day_Closing_Price={_Listing_Day_Closing_Price}
Def.Lowest_Token_Sale_Price={_Lowest_Token_Sale_Price}
Def.Next_Token_Pricing_or_Public_Distribution_Event={_Next_Token_Pricing_or_Public_Distribution_Event}
Def.One-Year_Anniversary={_One-Year_Anniversary}
Def.OP_SAFT={_OP_SAFT}
Def.Primary_Listing={_Primary_Listing}
Def.Public_Token_Distribution={_Public_Token_Distribution}
Def.Purchase_Amount={_Purchase_Amount}
Def.Restricted_Interests={_Restricted_Interests}
Def.Restricted_Security={_Restricted_Security}
Def.SAFT={_SAFT}
Def.SAFT_Round={_SAFT_Round}
Def.Securities_Act={_Securities_Act}
Def.Token_Conversion_Price={_Token_Conversion_Price}
Def.Token_Issuer={_Token_Issuer}
Def.Token_Sale_Documents={_Token_Sale_Documents}
Def.Token_Sale_to_Outside_Investors={_Token_Sale_to_Outside_Investors}
Def.Tokens={_Tokens}
Def.Transfer={_Transfer}
Def.VWAP={_VWAP}
_Affiliate=Affiliate
_AML_and_KYC_Forms=AML and KYC Forms
_Applicable_Exchange_Rate=Applicable Exchange Rate
_Capital_Stock=Capital Stock
_Company=Company
_Discount_Rate=Discount Rate
_Dissolution_Event=Dissolution Event
_Distribution=Distribution
_Future_Token_Right=Future Token Right
_Investor=Investor
_Investor_Tokens=Investor Tokens
_Listing_Day_Closing_Price=Listing Day Closing Price
_Lowest_Token_Sale_Price=Lowest Token Sale Price
_Next_Token_Pricing_or_Public_Distribution_Event=Next Token Pricing or Public Distribution Event
_One-Year_Anniversary=One-Year Anniversary
_OP_SAFT=OP SAFT
_Primary_Listing=Primary Listing
_Public_Token_Distribution=Public Token Distribution
_Purchase_Amount=Purchase Amount
_Restricted_Interests=Restricted Interests
_Restricted_Security=Restricted Security
_SAFT=SAFT
_SAFT_Round=SAFT Round
_Securities_Act=Securities Act
_Token_Conversion_Price=Token Conversion Price
_Token_Issuer=Token Issuer
_Token_Sale_Documents=Token Sale Documents
_Token_Sale_to_Outside_Investors=Token Sale to Outside {_Investor}s
_Tokens=Tokens
_Transfer=Transfer
_VWAP=VWAP