We are delighted to invite the Company to join the SimpliFlying Launchpad (the Program) and are pleased to offer the Company:
- Remote Participation – It is expected that at least one senior team member from the company be available and participate in each remote session.
- Prep Meetings – ****The Launchpad team will schedule the preparation meetings to ensure alignment with your needs during the program:
- Pitch polishing
- Virtual learning logistics
- SimpliFlying Global Institute learning materials
- Other calls, as needed, and mutually agreed upon by the Company and the Program
- Access to Experts – ****Access to our market segment experts is critical to aligning your ideas and products for a pathway resulting in regulatory approval (as appropriate), market adoption, and payment.
- Access to Our Network – The partners will provide connections and access to network resources as appropriate.
- Program Costs – The Program is provided free of charge in exchange for the opportunity for SimpliFlying or its affiliates to share in Net Revenue as defined in Annex A.
In return, your Company and each of you agree that:
- There are no contractual or other restrictions or obligations that are inconsistent with your Company, you and your team joining the Program to work full-time on developing your product and the Company.
- There are a very limited number of slots available for the Program and competition is strong. By extending to you our offer to participate in the Program, another Company will not receive an offer. Accordingly, by accepting our offer you are committing to attend and fully participate in the Program on the terms outlined in this offer.
- Should there be any significant change to your Company, to the composition of your Team, or in your planned focus before beginning or during the Program, you will inform Launchpad immediately. While unlikely, Launchpad reserves the right to rescind the offer if we believe this will significantly impact your ability to succeed and/or constitute a fit for the Program.
- You will commit a Company C-level executive and at least one other key team member (the “Key People”) who will participate fully in the Program.
- Company’s Intellectual Property is owned by the Company or the Company has secured appropriate licenses and none of those licenses preclude participation in Launchpad or similar programs.
- ****There are a variety of terms applicable to the Program in this offer letter and as set forth below under the heading “Annex A: Launchpad Program Terms.” You have read and you understand and agree to these terms and have executed all of these agreements. These terms are an intrinsic part of this offer and are binding contractual agreements.
Annex A: Launchpad Program General Terms (the “Terms”)
Company Structure. This offer letter assumes that your business is already formed as a legal entity. If that is not the case, please let Launchpad know immediately.
Company Expenses. As part of the Program, you may incur direct expenses for your Team to remotely participate. These expenses must be paid directly by the Company or you and are not the responsibility of Launchpad.
Confidentiality and Information Security. You will assure that Company’s personnel assigned to Launchpad will execute all appropriate Non-Disclosure and Confidentiality Agreements and will agree to Launchpad’s confidentiality policies as amended from time to time. Launchpad also maintains strict Information Security protocols. This applies mutually.
Intellectual Property. The underlying philosophy of the Launchpad is that Company IP remains with the Company, and Launchpad’s IP remains with Launchpad.