HBSAANY Chapter's Membership Agreement
As a member of HBSAANY, I signify my understanding of the following:
1. The purpose of HBSAANY is as a forum in which investors may be educated on aspects of investment, as well as be introduced to companies for potential investment.
2. HBSAANY is not a venture fund, investment bank, broker/dealer, investment clearinghouse, investment portal, or any other form of investment advisor, and is not registered with the Securities and Exchange Commission (SEC).
3. Any information distributed by HBSAANY and its members is for information purposes only and is not intended to be, and is not an endorsement, approval or other recommendation with respect to any securities and/or investments. Dissemination of information does not constitute an endorsement of the accuracy or adequacy of the information.
4. I am responsible for obtaining additional information as I deem necessary for evaluating the relative merits and risks of an investment, as well as engaging my own investment advisor if I determine one to be appropriate. HBSAANY is not responsible for, and shall have no liability for, my investment decisions. The entering into of any investment transaction will be with the respective company without involvement of, or participation by, HBSAANY. I understand that any investment I may make entails substantial risks and I represent that I am able to bear a complete loss of such investment.
5. I agree to indemnify and hold harmless HBSAANY and each of its managers, members, officers, directors, employees and consultants, and its and their respective owners, advisors, agents and other affiliates, and the successors and assigns of the foregoing (collectively, “Releasees”), against, and I hereby release, discharge and waive all remedies against Releasees, in each case, with respect to, any and all losses, damages, claims, demands, actions, causes of action, liabilities, costs and expenses (collectively, “Damages”), including, without limitation, reasonable legal and other expenses incurred in connection with investigating any Damages, insofar as such Damages, or any action in respect thereof, arise out of, are based upon or otherwise relate in any manner to any investment and/or investment opportunity, in each case, in connection with HBSAANY.
6. Companies seeking investors are responsible for making sure that investors are accredited investors as defined by Regulation D of the SEC. For purposes of determining an investor's net worth, - “net worth” means the excess of total assets, excluding my primary residence at fair market value, over total liabilities, including mortgage or any other liability secured by primary residence only if and to the extent that it exceeds the value of the primary residence.
7. I am a HBS graduate or I have another qualifying affiliation. Qualifying affiliations include:
(a) a graduate of Harvard undergraduate or graduate school or a person who has completed an academic program of the University as defined by inclusion in Harvard Alumni listing.
(b) a faculty member or officer or other holder of a Harvard appointment for at least one full academic year.
(c) a member of any Board or Committee of the Harvard University
8. All members must review and agree to this Membership Agreement. Membership is subject to annual renewal, non-renewal, revocation, or termination by HBSAANY Membership Committee.
9. A member will be notified in writing by Membership Committee of the intent to not admit, terminate or revoke membership, and the on-notice member shall have thirty (30) days in which to submit a written response to Membership Committee to contest the decision. The Membership Committee shall consider, in good faith, the written response and decide within sixty (60) days. The decision of HBSAANY is final.
10. I will not share briefings or company information with anyone outside of HBSAANY.
11. I will not inappropriately solicit other members or applying companies as a client for my business.
12. I will disclose to HBSAANY Screening Committee any relationship I have with a presenting firm. As a result of introducing a firm to HBSAANY, I cannot receive any consulting or success fee from the firm. However, I can introduce a firm in which I have invested to my fellow members via HBSAANY.
13. I disclaim any ownership interest, or any rights relating thereto, in HBSAANY.
14. I will pay the current required dues to be a member of HBSAANY.
15. I agree that any interpretation by HBSAANY, acting reasonably, of this Membership Agreement shall be deemed binding. I irrevocably submit to the exclusive jurisdiction of the Federal and state courts located in New York, New York, and courts of appeals therefrom, in connection with all matters relating to this Membership Agreement. This Membership Agreement is entered into in New York, New York.
