
The Atlassian Term Sheet - laminarflow
https://editorial.atlassian.net/wiki/spaces/ED/pages/262284/The+Atlassian+Term+Sheet
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bcantrill
I admire Atlassian's putative motivations here, but their sanctimoniousness is
a bit rich: this term sheet would force key employees to agree to a non-
compete (something that should be redlined immediately) and would reserve the
right to force employees to waive the protections that they may have been
granted in terms of accelerated vesting triggers and change-of-control
provisions. _These_ are the kinds of provisions which actually affect the
rank-and-file in an acquisition (and, of course, the actual purchase price
with respect to the preference stack); for Atlassian to pretend that they are
coming up with a ludicrously seller-friendly term sheet because of the escrow
and insurance terms is a little absurd. Or perhaps Atlassian would also share
which of these terms became redlined in the deals that they've done?

