Fix style in the Current SSY Agreement

Aug 6th, 2022
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How to fix style in the Current SSY Agreement

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hi Im So Young head of legal here at jungle Ventures and I want to take some time to talk to you about investment documents so long form definitive documents for VC or other big investor into a founder-led company [Music] sha shells agreement thats the document that comes after the term sheet to talk about how everyones going to live together going forward so the most important thing to think about is that its necessarily a relatively long and complex document its a 50 plus page document the question that you should have as a Founder is how can I do this as efficiently as possible with as little loss of sleep as little stress the thing to think about in this context is process really drives how good the outcome is going to be and the process that you want being the most efficient process as a Founder is to concentrate just on the core issues dont get hung up on drafting let your lawyers do that you need to isolate what is really important to you and have you know real honest conv

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Addendum creation pocess Identify the need for an addendum. Determine the additional information or provisions that need to be included in the contract and confirm that they can be included without altering the existing terms. Draft the addendum. Obtain agreement. Attach the addendum.
Addendums are attachments to original contracts that alter the original terms and conditions of the contract. Addendums can be used to alter standard contracts, make adjustments if situations have changed since the original contract was signed, or if the original signers come to a different arrangement.
For example, a contract to manufacture widgets may have an addendum listing the specifications for said widgets. As this modifies the original document, it should be signed or executed with the same formalities, unless the original document states otherwise.
An introduction stating that the purpose of the addendum is to amend or modify the original contract. For example, This Addendum amends the Agreement dated [DATE] between [PARTY 1 NAME] and [PARTY 2 NAME]. Clear and specific language outlining the changes, clarifications or additions being made.
You can alter a contract with an addendum and have both parties sign it again. This makes the addendum legally binding. Using an addendum allows for flexibility within a contract when things change and reduces the risk of confusion about what both parties agreed upon originally.
The method is based on four principles: Separate the people from the problem Focus on interests, not positions Invent options for mutual gain Insist on using objective criteria
A contract addendum is an additional document that is attached to the original contract. It is used to include supplementary information, such as additional terms, conditions or provisions. Unlike an amendment, an addendum does not modify the existing terms of the contract, but rather it expands upon them.

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