Angel Investor

[JessicaRabbit88]

Anyone have a good link of an example of an Angel Investor Contract?

 

I am looking for something written up that convey these types of terms:

 

They initiate funding with a promissory note, defer monthly or quarterly interest payments for a year or two, and then exercise successive options at various performance benchmarks, converting the debt into an equity position of 15 to 30 percent (depending on the venture scope). They begin as passive creditors during the formative launch phase, but they'll want to see detailed financial statements every few weeks or once each quarter. They'll also require a seat on the board of directors and will hold the entrepreneur to a strict set of sales targets for the first one to two years

 

http://www.entrepreneur.com/article/0,4621...,277472,00.html

 

TIA,

Jessica