VAN MEMBERSHIP AGREEMENT 4-13-21 (1).pdf

VIRTUAL ANGELS NETWORK MEMBERSHIP AGREEMENT

Virtual Angels Network, LLC, a Washington limited liability company (VAN), facilitates the introduction of

entrepreneurs to potential investors through presentations and other mechanisms. VAN consists of

individual angel investors interested in financing privately held companies or ventures typically in an

early stage of development. Membership in VAN is a privilege, which is subject to renewal, revocation, or

termination for a member’s failure to conduct themself in an appropriate manner.

PROCESS FOR MEMBERSHIP QUALIFICATION:

• Qualifying individuals are invited to consider becoming members of Virtual Angels Network.

Membership is at the discretion of VAN’s Membership Committee and is subject to annual

renewal, non-renewal, revocation, or termination by VAN’s Membership Committee.

• All new members (and renewing members) must complete this Membership Agreement.

• The Membership Committee will review all applications for membership and endeavor to provide

applicants with a response within ten (10) days of completed application submission.

• VAN membership may be terminated, or membership revoked at the discretion and determination

of the VAN Membership Committee. A member will be notified by the Membership Committee of

the intent to terminate or revoke membership, and the on-notice member shall have ten (10) days

in which to submit a response to the Membership Committee, should the member deem their

actions or inactions do not warrant or qualify for termination or revocation of membership. The

Membership Committee shall consider, such on-notice member response within thirty (30) days.

The decision of the Membership Committee is final.

TO QUALIFY FOR MEMBERSHIP, I AGREE THAT:

• I am an accredited investor as defined under Rule 501 of the SEC regulations, which defines the

same as: “Any natural person whose individual net worth or joint net worth with that person’s

spouse exceeds $1,000,000 (excluding the value of the primary residence)”; OR “Any natural

person who had an individual income in excess of $200,000 in each of the two most recent years

or joint income with that person’s spouse in excess of $300,000 in each of those years and has a

reasonable expectation of reaching the same income level in the current year.” By signing below,

you agree to notify VAN as soon as you no longer qualify as an accredited investor and prior to

attending any presentations with VAN or the companies connected through VAN.

• I agree to abide by the terms and rules of this Membership Agreement.

• I understand that VAN is not a venture fund, investment bank, broker/dealer, investment

clearinghouse, investment portal, or any other form of investment advisor or otherwise, and is not

registered with the Securities and Exchange Commission or any state securities commission. VAN

does not provide advice, recommendation, or any other indication of appropriateness or

inappropriateness for a particular investment. VAN does not endorse any investment opportunity

and makes no independent investigation to verify information provided by companies submitting

to VAN for presentation or otherwise, and makes no representation or warranty regarding the

same.