This post will cover a presentation outline and discussion for what I believe is a solid starting point for best practices in a typical, periodic board presentation by a start-up CEO. These days, early stage companies tend to have monthly or every-other-month meetings; more mature companies rarely go longer than a single quarter without a formal board meeting. Because the goal of a the board book and the board meeting is to clearly communicate the state of the business to board members, over the course of 2-3 hours, such that board members are equipped to perform their duties.

1. This is part of a board presentation discussion that can be found here: www.reoverthinking.com Orhttp://wp.me/pRtXC-cI NewCo Board Meeting November 3, 2009

2. Agenda CEO Overview [name of CEO] 20 min Board Business entire board 30 min Approval of previous minutes Option Grants, equity discussion Other board busines Departmental Reviews departmental heads 90 min Sales & Business Development [name of sales leader] 30 min Finance [name of CFO or CEO] 20 min Marketing [name of mktg leader] 20 min Product / Development / Engineering [name of dev leader] 20 min Discussion & Wrap up group tbd 2 Confidential and Proprietary. © 2009 NewCo, Inc.

3. CEO Overview Highlights and Recent Milestones Challenges Customer/Sales Headlines Key Success Metrics / goals Last period Next period Employee update Name of Employee Name Position. Over ___ years of ______ experience. Most recently at _____where he _____ and ________________. Employee has a ___ from University of ______. 3 Confidential and Proprietary. © 2009 NewCo, Inc.

4. Board Business Proposed Resolutions Employee Option Grants Extension of exercise period for (Insert Employee Name) Approval of Previous Minutes Other Business Transfer of founder options 4 Standard vesting is _% on first anniversary of vesting commencement date and ___ at end of each month of continuous service. All options are subject to standard vesting. Confidential and Proprietary. © 2009 NewCo, Inc.

5. Departmental Updates November 3, 2009 5 Confidential and Proprietary. © 2009 NewCo, Inc.

6. Sales/Business Development Update Highlights Grew “weighted” Qualified pipe from $__K to $__K Closed ___________________ Signed up w/ ____ new partners Key Metrics / Goals Partner Development Name of Partner: kickoff & training planned Target 6 joint sales with partners (in progress already) Working to minimize trial-to-purchase timeframe and increase total conversion rate to over 3% Challenges Develop a telesales/inside sales plan and an international plan Pace of lead gen is slower than expected; lead quality is on target Confidential and Proprietary. © 2009 NewCo, Inc.

7. October Sales Status / Forecast Q4 Target: $55,000 revenue with a 3x pipeline Recent deals closed Customer#1: $5,000, 22 users, 10 days trial to conversion Customer#2: $1,200, 5 users, 17 days trial to conversion Current Pipeline Confidential and Proprietary. © 2009 NewCo, Inc.

8. Revenue Metrics for October 2009 8 Transaction – Revenue Metrics We experienced a seasonal drop in transactions in October that led to missing our target Transaction value improved slightly and we expect to be on plan by Q1 of next year Revenue follows our transaction count and therefore took a hit in October. We expect this to return to plan in Q1 of next year also Confidential and Proprietary. © 2009 NewCo, Inc.

9. Company Metrics 9 Confidential and Proprietary. © 2009 NewCo, Inc.

10. Marketing Update Accomplishments Completed 2009 roadmap and MRD for releases 1.1 & 1.5 Completed and announced ___ articles; podcast; blog posts Delivered new sales tools – new data sheets, sales playbook Held 4 analyst briefings Objectives Continue market momentum: at least 3 events in Q4 Sales enablement New sales tools (online assessment tool, white paper) Issues Resource constraints:project prioritization difficult, multiple candidates in process Confidential and Proprietary. © 2009 NewCo, Inc.

11. Product / Engineering Update Accomplishments Released next version of product, v1.34 Patent under review with attorney: “Name of Patent” Q1 2010 release schedule set (1.5, 2.0 - all in FY__) Objectives GA v1.5 (__/__ ship date) Hire development engineer (engineer #3) File provisional patent Successful phase __ deployment in __ customers Challenges Monitoring, scalability, performance & disaster recovery are top priorities, must be ready for GA Need to outsource testing as much as possible, keep dev focused on core, benefit from timezone changes (repairs in before start of business) Confidential and Proprietary. © 2009 NewCo, Inc.

12. Finance/Admin Accomplishments Completed Audit with HMPP Began Corporate Valuation with [name of valuation firm] Hiring on track – currently at ___ employees Managing expenses slightly under budget; will continue next period Objectives Execute Key Hires VP of ____- Date Relocate to new office Locate contracts resource Issues Current “fume” date ________

13. Financial Information & Projections 13 Headcount 2 2 3 3 4 4

14. Wrap-up and open discussion Thank you. Confidential and Proprietary. © 2009 NewCo, Inc.