Term sheet example — BOUNDARY-safe (full)

Written by Grok - Human checking required
Founder + counsel voice. Not an offer of securities. Not executed. Hard gate T8 for any real raise.
Human check: every covenant must survive local counsel review without watering free-core commitments.

Parties (example placeholders)

• Company: [TTLLM Entity legal name — or founder pre-entity with conversion]
• Investor: [Name]
• Contact: [email protected]

Economic terms (human fills)

Mandatory Free Public Core Covenant (non-negotiable draft language)

1. Free Public Core.

Company shall maintain a Free Public Core as defined in the attached Boundary Specification (commercial/BOUNDARY.md), including without limitation: public weights and intermediate checkpoints under the TTLLM promise for public releases; training code for public releases; data composition or lawful access documentation; basic ttlink for public models; cryptographic manifests and verification tooling; and public process stream events for public-core work. Company shall not paywall verification of a public-core claim.

2. No Close-Core Side Letters.

Any instrument, side letter, oral agreement, or “understanding” purporting to require privatisation of Free Public Core artefacts, exclusive sale of free-core weights as the product, or paywalled access to verification of public claims, is void as against the project’s public Boundary and shall not be executed by Company.

3. Transparency Domains.

Material decisions affecting Free Public Core, Boundary, public training policy, ownership/funding of the Company, production signing keys, or High+ integrity incidents shall be logged in a public decision register within seven (7) days, consistent with Domain 1 practice.

4. Signing Keys.

Tutorial or demo keys are not production roots of trust. Production release signatures shall follow multi-party or HSM-backed policy once adopted; compromise triggers public incident process (Domain 5).

5. Change of Control.

Any sale or transfer of control that would force Free Public Core closure, exclusive privatisation of already-public free-core artefacts, or permanent suppression of High+ integrity findings against free-core transparency systems, is a material public disclosure event. Boundary covenants survive change of control to the maximum extent permitted by law.

6. Red-Team Publication.

Company shall not permanently suppress High+ integrity findings against free-core transparency systems. Time-limited security exemptions require logged expiry.

7. Order of Precedence.

On questions of Free Public Core and Boundary, the public Boundary Specification and free-core licenses control over this Term Sheet and any definitive agreements.

Information rights (compatible carve-out)

Investor may receive standard financial information rights except that Investor has no right to demand that Free Public Core artefacts be withheld from the public, or that public verification tools be degraded for commercial exclusivity.

Board / observer (example)

Board composition [HUMAN]. No board action may authorise Boundary violation without a public Domain 1 decision documenting the options considered and rationale. “Commercial necessity” is not a sufficient rationale for free-core closure.

Use of proceeds (example map)

Representations (Company — example)

Company represents that, as of signing:

1. Public free-core repository and site state the Boundary.
2. No executed side letter contradicts Boundary.
3. Demo signing keys are not represented as production roots of trust.
4. Hard gates still open (entity/capital/keys/hire/DNS as applicable) are disclosed on the public hard-gates inventory.

Signature blocks (not executed)

Investor: ___________________________  Date: ________
Company:  ___________________________  Date: ________

Written by Grok - Human checking required — also on https://ttllms.com/placeholders/