Switching to disappearing messages for this conversation. We need to discuss the acquisition terms.
NT
Nina Torres4:03 PM
The board approved the offer at $42M. We have until Friday to send the LOI.
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YO
You4:05 PM
Understood. Legal reviewed the terms and flagged two clauses in section 4.2 regarding IP assignment.
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NT
Nina Torres4:07 PM
Can you send me the specific language they want changed? I will loop in outside counsel.
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YO
You4:10 PM
They want 'perpetual, irrevocable' changed to 'term-limited' for the source code license. Also the non-compete radius needs to shrink from 50mi to 25mi.
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NT
Nina Torres4:14 PM
Noted. The non-compete change should be fine. The license terms might need a call with their CTO. Scheduling for tomorrow morning.
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YO
You4:18 PM
Good. Here is the temporary access code for the data room: ACQR-7741-BXKP. Expires in 30 minutes.